The higher the supply the lower the price will be and the higher the demand the higher the price will be. This means that they have an inverse relationship. In short, the more you need something the more you're willing to pay for it, and the less you need it the less you want to pay, and this is basically how the economy works when producing and selling.
Answer:
firms anticipate rival firms' decisions when they make their own decisions.
Explanation:
Game theory assumes that firms anticipate rival firms' decisions when they make their own decisions. It is very important and necessary for understanding firms operating in an oligopolistic market.
An oligopoly can be defined as a market structure comprising of a small number of firms (sellers) offering identical or similar products, wherein none can limit the significant influence of others.
Hence, it is a market structure that is distinguished by several characteristics, one of which is either similar or identical products and dominance by few firms.
This ultimately implies that, under the game theory, when firms makes a decision about their business, it is expected that they consider how the other firms would react to such decisions.
I believe the correct answer is the first option. The labor supply curve is upward sloping because the opportunity cost of leisure decreases as wages decrease and the opposite of such is true as well. As one work one hour more, one will have less time for other activities. As the work rate increases in value, then the opportunity cost increases as well.
Answer:
b) Larceny at the point of sale
Explanation:
Larceny at the point of sale -
It is a type of fraud , where the employee itself steal money from the employer during the point in the business , when is the sale is been made .
This type of fraud is very commonly seen in the retail business .
Same case is shown in the question data , where Jan Ashley , who works for the R & S departmental store , tries to steal money during the sale .
