<span>Free enterprise is based solely on private ownership as the means of production. This type of system gives power to its citizens by restricting the government when it comes to ownership and regulating business. Citizens are allowed to freely own and operate a business, make a profit and compete against other businesses.</span>
If a firm's marginal costs <u>fall</u>, then its <u>price falls.</u>
This is based on the principle that if the marginal cost of a product or firm rises, that implies that the firm is operating at a high fixed cost, thereby leading to an increase in the cost of production, which generally equates to products having a high price.
On the other hand, where there is low marginal cost, production costs reduce because the products are being produced at a lower fixed cost. Thereby leading to lower prices.
Hence, in this case, it is concluded that "If a firm's marginal costs <u>fall</u>, then its <u>price falls</u>."
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Answer:
d. 12.5%.
Explanation:
Price elasticity of supply measures the degree of responsiveness of quantity supplied to changes in price.
If the price elascitiy of supply is 0.4, it indicates that supply is inelastic. This means that a change in price has little effect on quantity supplied.
Price elasticity of supply = percentage change in quantity supplied / percentage change in price
0.4 = 5% / percentage change in price
percentage change in price = 12.5%
I hope my answer helps you.
Answer:
A transformation T: (x, y) (x + 3, y + 1). For the ordered pair (4, 3), enter its preimage point.
(-1, 2)
(1, 2)
(7, 4)
Explanation:
A transformation T: (x, y) (x + 3, y + 1). For the ordered pair (4, 3), enter its preimage point.
(-1, 2)
(1, 2)
(7, 4)
