Answer:
C) consumption and output
Explanation:
A fiscal contraction refers to decreasing a government's deficit. A government has a deficit when it spends more than the revenue it gets from taxes. Therefore if the government wants to reduce its deficit, it will decrease public expenditure and/or increase taxes. Any of those actions will also lead to a decrease in public consumption and total economic output.
Answer:
“There is no long run; there are only short and shorter runs.” Evaluate that statement. If you increase production to an infinitely large level, the average variable cost and the average total cost will merge. Why? The following cell phone offer by Sprint is typical of what one can get on a cell phone plan: 4,000 free minutes for $39.99 a month. The fine print says that only 350 of those minutes are anytime minutes; the remaining are restricted to evening and weekend usage. If you go over your allotted time, you are charged 35 cents per minute for any additional minutes
Answer:
✓ Social responsibility, fair pricing, truth in advertising
Explanation:
Answer:
Seller Surplus
Explanation:
In business terms, there is a difference in the expected value what a seller expects to receive from the products it sells and from the amount it actually earns.
The cost of the product not only involves the monetary cost but it also involves the cost in terms of efforts involved to produce an article.
When a seller puts a product in the market, then he tries to have it a market value more than its cost. When such market value is realised then the difference in cost and market value is surplus for the supplier or producer.
But in cases where the consumer is efficient enough to bargain such product and only pays an amount which is less than the cost, then there arises seller deficit, which is represented as a negative seller surplus.
Answer:
EIA's data for 2020 indicates that total U.S. petroleum production averaged about 18.375 million barrels per day (b/d), which included: crude oil—11.283 million b/d.
Explanation:
