Answer:
the social cost of production exceeds the private cost of production.
Explanation:
The cost of natural resources for which the firms are not required to pay, for example, river, lake, atmosphere, etc. The use of public utility services such as roadways, drainage systems, etc. The cost of 'disutility' created through pollution (air, water, noise, environment).
Raw materials
sales commissions
utilities
<span>property taxes. boom</span>
The answer would be A. Shoes.
It is implied that a good has an inelastic supply if the supplier does not have a choice other than producing it despite the change in production cost. This would as well apply to the buyer, who needs the product no matter the pricing.No one can live without shoes, despite a spike in prices, we still need to buy them.
Answer:
C is the correct answer.
Explanation:
The result of the Bretton Woods System was launched after the end of the world war. It was a liberal system as it aimed to set an open system of international trade in goods and services. It was also facilitated by semi-fixed exchange rates. But at the same time, it wanted to embed the market forces in a framework where they could be controlled by National Governments so that they can control the international capital flow. And for this purpose, The world Bank and International Monetary fund were created.
Answer:
c. The statement is false because the demand for incandescent light bulbs would increase as the price of compact fluor. light bulbs fell.
Explanation:
If improvements in production technology reduce the price of incadescent light bulbs, the normal thing that would happen is that demand for this good would increase, because now people will be able to buy the good at a lower price.
