Answer:
I think it is Automated teller machine
It is called the law of demand and supply whereby when the supply of commodity increases, the need reduces. The market becomes flooded with the items while the number of customers is constant. Moreover, when the supply of a good diminishes its demand goes up.
Answer:
- $45000
Explanation:
Economic profit is different from accounting profit in the sense that former also takes into consideration the implicit costs, also referred to as opportunity costs unlike the latter.
Economic Profit = Accounting profit - Opportunity Costs
Opportunity costs are defined as the the cost of sacrificed or foregone alternative for pursuing a particular alternative. Such costs are implicit or notional as they are not actually incurred.
In the given case, Economic Profit = Revenues - Explicit costs - Implicit costs
Here, the implicit cost is $60,000 income foregone.
Thus, Economic Profit = $20,000(income) - $ 5000 (expense) - $60,000 (opportunity cost)
Economic Profit = ($ 45,000) or -$45,000.
Answer:
The answer is: interest in seeing the most things for the least amount of money
Explanation:
If we consider the group´s name, Price and Sights, we could get a hint that they probably are looking for the lowest possible price. Several travel websites have been launched with this in mind. It is normal (also logical and rational) for people to search for places to travel at the lowest possible cost. That unless you´re too rich to care and your expectations are different than normal customers.
