Answer:
Explanation:
At some colleges and universities, economics professors receive higher salaries than professors in some other fields.
A. Why might this be true?
Economists have a higher opportunity cost working in academia than professors in other fields because in certain fields that are different from academic,there is a lack of labor opportunity for professor and even when such arise ,they are difficult to get and another reason may be that economists who are good in some fields may employ themselves in other firms with higher wages because of their real life first hand experience, even when some colleges and universities wants to hire them, got to spend a greater amount of money than for professors in some other fields.
B. Some other colleges and universities have a policy of paying equal salaries to professors in all fields. At some of these schools, economics professors have lighter teaching loads than professors in some other fields. What role do the differences in teaching loads play
In order for university to employ working force which is hard to find, they put in place differences in teaching loads ,such differences in teaching load are intended to attract economics professors by providing nonmetary compensation
Answer:
A. no
Explanation:
If there is no tax rate per CDminusRom, to import it will cost less. It is easier when there is no tax rate attached. Therefore, The United States will import 3 million CDminusRom drives if ____NO____ tax per CDminusRom drive is levied on imported CDminusRom drives. Hence, the answer is A
Answer:
Amount received by sellers - Costs of sellers.
Explanation:
Producer surplus is the difference between the price of a good and the cost to sellers. It is the difference between price and the least amount sellers would be willing to sell their products.
Consumer surplus is the difference between the price at which the consumer values the good and the price of the good.
Consumer surplus = Value to buyers - Amount paid by buyers.
I hope my answer helps you
Answer:
c. Normative ethics
Explanation:
Ethics involves the study of the moral principles and guidelines that determines how an individual behaves. Since people and organizations operate in a social environment, where they interact with other organizations and people, ethics has to be considered to improve how people and organizations act and behave.
1. Substantive ethics
Substantive ethics involves the formulation of guiding principles that can be used during cases of ethical dilemma.
2. Emotional ethics
It consists of the feeling and intuition that play a major role into how people behave in a given situation.
3. Normative ethics
It involves the study of ethics by looking at how an individual ought to act and the implications of that behavior. It involves asking questions about how one needs to behave in a given situation then considering the ethics of that action. It is a kind of predetermined cause of action that an individual is supposed to apply in order to arrive at specific ethical behavior.
4. Behavioral ethics
Behavioral ethics involves the study of ethical and unethical behavior and coming up with reasons as to why individuals choose to behave ethically or unethically.
Answer:
C. Higher prices but lower total revenue from marijuana sales.
Explanation:
The above scenario totally explains inelastic demand. Inelastic demand is when the buyer’s demand does not change as much as the price changes. When price increases by 20% and demand decreases by only 1%, demand is said to be inelastic.
When the price increases, people will still purchase roughly the same amount of the good or service as they did prior to the increase because their needs stay the same. A similar situation exists when there is a decrease in price demand will not increase substantially because consumers only have a limited need for the product.
