Answer: Option (A) is correct.
Explanation:
Correct Option: A.supply whatever amount consumers demand at a price determined by the minimum point on the typical firm's average total cost curve.
In the long run, equilibrium price of a perfectly competitive firm implies that there is no economic profit for the firm. This situation occur when the marginal cost is equal to the average total cost.
The firm is break even when the price is equal to the minimum point of average total cost of the firm. So, there is no possibility of economic profit for the firm.
The best suggestion to give to Frank when he asked about
what could be done with the data that is being generated is that the data may
be of good use when the social media are being used in having to find out the
customer’s recommendations and the ones that they are buying in which could be
the common interest of buyers.
Answer:
Option B
Explanation:
In simple words, Models of weather stations are visual representations displaying the weather taking place at a specified monitoring station. The stations design was developed by meteorologists that incorporate a variety of climate components into some kind of small area on satellite images.This model has been of high use to prepare for the natural calamtites in advance but it does not influence the project in any way.
Answer:
The correct answer is option C.
Explanation:
Imposition of tax causes the market equilibrium price to increase. This creates a tax wedge by increasing the price paid by the buyer and reducing the price received by the seller.
So the burden of tax is shared by both buyers and sellers. Who will share most of the burden depends on their elasticity.
If the demand is more inelastic, consumers will share most of the burden. If the supply is more inelastic, producers will bear most of the burden.
Control is the right answer to keep things on track
