The correct answer is an <span>Intertemporal<span> choice.
</span></span><span>Saving money is an </span>Intertemporal choice.<span> because it involves less consumption in the present, but the ability to consume more in the future. Its a personal choice which people make accordingly depending on their needs, money and time.</span>
Based on efficiency, the businesses that should cut hair are the A and C; moreover, to meet the demand, each firm will need to offer at least two haircuts.
The supply of a product or the units of a product that is offered to potential customers should always meet the number of real customers. In the same way, the price of the product should meet the price customers are willing to pay.
In this context, the best is that only firm A and C cut hair, this is because their prices per cut ($25 and $30) match the consumers' willingness to pay this includes Lorenzo ($35), Gilberto ($50), Juanita ($40) and Neha ($25).
- Firm A can cut Neha's and Lorenzo's hair
- Firm C can cut Gilberto's and Juanita's hair
Moreover, this implies each firm needs to do at least 2 haircuts to cover all the possible customers.
In the case of firms B and D, the price per cut is high ($40 - $45). Based on this, they should not cut hair as only a few customers can pay for this service, and this would be inefficient.
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Answer:
The statement is: True.
Explanation:
The Annual Rate of Return or Yearly Rate of Return is the amount earned over an investment within one year. It is typically represented as a percentage and takes into consideration capital appreciation and the payment of dividends. The formula to calculate the annual rate of return is the following:
Annual Rate of Return = (EYP - BYP)/BYP X 100%
Where:
EYP = End of year price
BYP = Beginning of year price
Cyclical unemployment refers to short-run fluctuations around the natural rate of unemployment.
Cyclical unemployment is the portion of overall unemployment that is a direct outcome of economic boom and bust cycles. Generally speaking, unemployment increases during recessions and decreases during economic expansions. The purpose of the different policy instruments used by governments to boost the economy and a major motivator for studying economics is to reduce cyclical unemployment during recessions.
In the context of the business cycle, cyclical unemployment is related to the erratic ups and downs, or cyclical trends in growth and production, as indicated by the GDP. The downturn usually turns into an upturn, followed by another downturn in most business cycles.
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