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Olegator [25]
3 years ago
12

Assume the smart watch industry is a perfectly competitive industry that uses a specialized input. If this industry experiences

an increase in demand, we might expect that in the long run: Multiple Choice neither input nor output prices will increase. both input and output prices will increase. only input prices will increase. only output prices will increase.
Business
1 answer:
RideAnS [48]3 years ago
5 0

Answer:

Option B, both input and output prices will increase

Explanation:

Since the demand far smart watches is increasing, the price of watches will escalate to cater the opportunity cost. With the rising demand for smart watch, the demand for specialized input will also increase. Considering the growth in demand for specialized input, its cost shall also escalate to take the benefit of opportunity. Along with raw material, variable costs such as transportation, manpower, electricity etc.  will also increase both in input (bringing raw material and producing final product) and output (export of the final product)

In nut shell, both the input and output price will increase.

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PagePress, a publishing firm, is beginning work on its goal of sustainability. The firm starts by recruiting highly qualified HR
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The PagePress is trying to achieve sustainability by focusing on the development and empowerment of employees

<h3><u>Explanation:</u></h3>

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7 0
3 years ago
Ingrid has been waiting for the show "Mamma Mia!" to come to town. When it finally does come, tickets cost $60. Ingrid's reserva
Semenov [28]

Answer: inefficient because Steven and Ingrid could have made a mutually beneficial trade.

Explanation:

Regarding the question, Ingrid was waiting for "Mamma Mia!" show to come to town; it eventually came with tickets cost of $60. Even though Ingrid's reservation price was $75, he was not able to get a ticket as they had been sold out.

On the other hand, Steven got a ticket for $60 even though his reservation price for the ticket was $65. Steven eventually attended "Mamma Mia!" show while Ingrid does not. This is an inefficient situation because Steven and Ingrid should have made a mutually beneficial trade which could have happened if Steven had sold Ingrid the ticket for the show for $70 and they would have been better off.

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