Answer:
The correct answer is letter "B": perform an activity at a lower opportunity cost.
Explanation:
Comparative advantage is the ability of an individual, company, or country to produce a good or service at a lower opportunity cost than its competitor. Having a comparative advantage does not mean that one entity is absolutely better than another at producing a good or service. It means that it sacrifices less to do so.
Answer: The equilibrium price of lcd tvs will
a. Increase and the equilibrium quantity will increase.
When the price of a substitute of lcd tvs rise, the demand for lcd tvs will rise, since they become cheaper than the substitute.
This will cause the existing demand curve to shift outwards, resulting in a rise in quantity.
As a result of the outward shift, the quantity supplied will also rise and so will the equilibrium price.
Answer:
Specialty store
Explanation:
A specialty store is a retail business that specializes in a particular range of products and its related merchandise. A specialty store will have an extensive depth of the merchandise that its stocks. For example, a business may focus on office supplies, men clothing, or household appliances as opposed to having a wide range of consumer products.
Specialty stores will often sell their products at a premium price. They offer excellent and friendly customer service. Employees at a specialty store have in-depth knowledge about their products and will provide expert advice to customers.
The answer is The income effect.
Income effect is described as the change in demand of a service or good brought on by change in the income of a consumer.It is observed in two cases first is when income of person increases and second is when price of goods or service decreases.
The scenario given in the question is an example of second case as the price of burger was less than normal Steve perceived his income to be able to buy more product in same price
Answer: That class ain't for you vro.
Explanation:
