Answer:
The correct answer is C. the output level where marginal cost is equal to marginal benefit .
Explanation:
Competitive equilibrium Traditional concept of economic equilibrium used for the analysis of goods markets with flexible prices and many agents, which usually serve as a benchmark for efficiency in economic analysis. Crucially, it depends on the assumption of a context in which each agent makes decisions about such a small amount compared to the total amount traded in the market that their individual transactions have no influence on prices.
It consists of a price system and an allocation of the production and consumption of the economy among the various agents, such that, given the prices, each agent maximizing its objective function (benefits, preferences) subject to restrictions (technological, of resources) plans to trade its share in the proposed allocation, at prices that make all exchanges compatible with each other by balancing the markets, that is, matching the aggregate supply with the demand aggregate of each of the goods and services traded.
If GSU feels that raising tuition would enhance revenue, it is assuming that the demand for university education is inelastic.
- The quantity of a good that consumers are willing and able to buy at different prices during a specific time period is known as demand in economics. The demand curve is another name for the relationship between price and quantity demand.
- A change in demand whose percentage is less than a change in price. Demand is said to be inelastic, for instance, if the price of a good increases by 25% but drops in demand by just 2%.
- When there is a small change in the quantity demanded when the price changes, a good or service has inelastic demand. The term "price inelasticity of demand" is another name for this. An example of inelastic demand is gasoline, where individuals generally buy the same amount even when prices rise.
Thus this is the answer.
To learn more about Demand, refer: brainly.com/question/1245771
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The shelves must be at least SIX [6] INCHES above the floor. This is necessary in order to facilitates proper cleaning of the floors, the unobstructed space below the shelf will make it easier to clean the underneath of the shelves. This will prevent cockroaches and other kitchen pests from habouring the space.
Climate
change happens because of global warming, which is the result of over
accumulated Carbon dioxide in the atmosphere trapping the sun’s rays in the
earth. This is a threat in business because (1) any business related to carbon (oil,
gas, electricity, etc) will be lessened, (2) <span>Different
weather conditions, may damages buildings and other infrastructures and (3)
might receive public threats questioning the company’s safety precautions.</span>
<span> </span>
Answer:
Cost of 1 hamburger and 1 shake is $1.89
Explanation:
Assume:
Cost of hamburgers = h
Cost of milkshakes = m
For Jack
2h + 3m = $4.21.......Eq1
For Jill
3h + 2m = $5.24.........Eq2
Eq1 + Eq2
5h + 5m = 9.45
divide by 5
h + m = $1.89
So,
Cost of 1 hamburger and 1 shake is $1.89
