Answer: The correct answer is "Deflation was bad for farmers because the value of their debt stayed the same while the price of their products fell.
Explanation: Deflation was bad for farmers because the value of their debt stayed the same while the price of their products fell.
The farmers who asked for loans had to return the same nominal value that they borrowed (whose real value was higher since the price level decreased) and lowering the price of the products they sold obtained less profit margin.
No it’s not. In fact it is very easy and fun depending on who your working with.
Shelby hired Lynn, an attorney, to represent her in an employment discrimination case. Lynn is an <u>fiduciary</u> who has a duty to act on behalf of Shelby.
A fiduciary is a person or organization which acts on behalf of another person or persons. Hence, they put their clients interests ahead of their own, with a duty to preserve good faith and trust. For instance, lawyers have a fiduciary duty to act in the best interest of their clients.
So Shelby hires Lynn, who is an attorney in order to represent her in an employment discrimination case. So Lynn act as an fiduciary who has a duty to act on behalf of Shelby and help her win the case.
Hence, a fiduciary is legally bound to put their client's best interests ahead of their own.
To learn more about a fiduciary here:
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Answer:
marginal revenue product.
Explanation:
A perfect competition is characterized by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.
In the long run, firms earn zero economic profit. If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.
Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.
A perfectly competitive firm will hire workers up to the quantity at which marginal cost of labor equals marginal revenue
Saves more than it spends.