After activated, it splits! Did a science fair project on it ;)
Answer: b.Correctly ignored a sunk cost
Explanation:
Sunk costs are those that are already incurred and should not have any influence on the decision to be made.
The cost of the ticket to the play has already been incurred and could not be sold, exchanged or transferred so was a sunk cost. By going to the concert with Simone, Ravi decided to ignore a sunk cost and he was correct to do so.
Answer: The answer is a market structure in which a very few large sellers dominate the market.
Explanation:
Oligopoly : This is a market structure in which there are few producers of product with close substitute.There are two forms of oligopoly which includes, oligopoly who produce homogenous goods and differentiated goods respectively. Since,the number of competitors in oligopoly is small the reactions of each producers are more important. They tend to look at the actions of other producers before taken a vital decision.
Oligopoly is a types of imperfect market structure which has the following features
When products are homogeneous there is no special preference, but when the products is branded the consumers have a choice.
A single price reigns where goods are the same .The reverse is the case where goods are heterogeneous goods.
Price cut are for the same product,while price cut can also occur through advertising war fought by competitors in the market.7
Answer:
2. People face trade-offs.
Explanation:
People face trade-off after cost and benefit analysis. for example, spending more time studying economics involve a benefit (a benefit is to get high marks in the subject). and cost is you could have spent that time doing something else, such as working in a restaurant to earn money. That is, your decision involves a trade-offs.
