Answer:
The correct answer is option C.
Explanation:
The production possibility curve shows the maximum possible bundle of two goods that can be produced using all the available resources and state of technology.
Since the resources are scarce, when we produce more of one good, we need to sacrifice more and more of the other good.
If all the resources in the economy are fully employed then it is not possible to increase the production of one good without decreasing the production of the other.
The economy can thus produce either on the production possibility curve or below it but not above it.
Answer:
There are 211 quarters and 216 dimes
Explanation:
To answer this question, we need to properly understand what a dime is and what a quarter is. A quarter is 25 cents while a dime is 10 cents in value.
Let the number of dimes present be d and the number of quarters present be q.
We are told that he has 5 more dimes than quarters.
Mathematically, this means that:
d - q = 5 or d = q+ 5 .......(I)
The total value there is $74.35. In cents, this has a value of 7435 cents.
Mathematically:
25q + 10d = 7435......(ii)
We substitute what we have in 1 in 2
25q + 10(q+5) = 7435
25q + 10q + 50 = 7435
35q + 50 = 7435
35q = 7435-50
35q = 7385
q = 7385/35
q = 211
Recall, d = q+ 5 ; d = 211 + 5 = 216
Answer:
c. The response of buyers and sellers to a change in the price of bananas is strong.
Explanation:
At more elastic the demand (buyers) and supply ( sellers) curve are, greater the effect on the equilibrium quantity. As the taxes is negative for both parties:
increase sales price for the buyer (demand) the demand curve will shift down at higher elasticity
If the supply is inelastic the supplier will take the hit of the tax and but if it is elastic as well both will "fight" to move the effect to the other making the quantity decrease heavily
Answer:
enduring;
situational
Explanation:
The concept of enduring participation implies the existence of a long-term relationship, regardless of the current situation.
Situational participation depends on the moment and how attractive the event is in a specific period of time.