Answer:
d. Both A&B
Explanation: Auction is a term used in the field of marketing or trading of goods where bidders are allowed to make bids(amount which they intend to pay for a given product) the Product can either be an Artwork or other goods like furniture,Cars, clothes etc.
A common value auction is a type of auction where certain information about the value of a product are available to some bidders and other sets of bidders have other information about the value.
DISPLAYING INFORMATION ABOUT A COMMON VALUE AUCTION IS GOOD FOR THE BIDDERS AS IT REDUCES THE RISK THEY FACE ESPECIALLY BEFORE BUYING THE PRODUCT AND FOR THE AUCTIONEER AS IT HELPS TO ATTRACT MORE BIDDERS.
Answer: $66.25
Explanation:
What should the per unit selling price be to make a 25% profit this year?
First, we'll calculate the total cost which will be:
= $100,000 + $5000(33)
= $100,000 + $165,000
= $265000
%profit = 100(revenue - cost)/ cost
25% = 100(revenue - 265000)/265000
Therefore, revenue will be:
265000(1 + 25%) = 331250
265000(1.25) = 331250
Revenue = $331250
Selling price per unit will be:
= $331250/5000
= $66.25/unit
Answer:
a. increasing opportunity costs as more and more of one good is produced
Explanation:
A production possibility frontier is a curve that shows the two combinations of goods an economy can produce given that its resocurces are fully employed.
The production possibility curves is bowed outwards because of increasing opportunity costs as more and more of one good is produced.
If more of one good is to be produced, more of the second good would be given up to increase the production of the first good.
The attached image is the graph of a production possibility frontier. At point A, the maximum amount of good X is produced with zero quantity of good Y. To increase production of good Y and move to point B, some quantities of good X would be given up. To further increase the production of good Y and move to point C, even more quantities of good X would be given up.
I hope my answer helps you
Answer: C. in market equilibrium there are no unconsummated wealth-creating transactions
Explanation:Market equilibrium is a term in Macroeconomics used to describe the price at which the Quantity of goods demanded is equal to the Quantity of goods supplied.
Wealth-creating transactions are money making transactions, these transactions are those that takes place and are paid for.
IN A MARKET EQUILIBRIUM THE QUANTITY OF GOODS DEMANDED IS EQUAL TO THE QUANTITY OF GOODS SUPPLIED MAKING THE ECONOMY TO HAVE NO UNCONSUMMATED WEALTH-CREATING TRANSACTIONS.
Answer:
Comedy as a Profession is a great example.
Explanation:
The science of it is related to the psychology of what makes people laugh.
If studied, one would realize that there are certain things that are bound to make people laugh (all things being equal). An example is when a person makes fun of themself to an audience.
To explain this, scientists have stated that it is inherent in humans to laugh at the misfortune of others. However, this is just a theory and does not explain why we laugh at other kinds of comedy.
A plausible explanation (which is more recent in the parlance of psychology) is that people also laugh when certain expectations are defied in a very witty manner.
As a professional stand-up comedian, knowing all the rules and tricks is just one part of the coin. Being able to, either by practice or repeated efforts during practice, internalize these principles, practice them and effectively use them is the artistic part of the picture.
There those who are gifted naturally with a principle thought process that elicits laughter from others, would be termed hilarious. However, to make a living out of comedy, one would need to fully understand the principles and practice to deliver them as naturally as possible.
Another paradigm to the art of comedy is that, it has to be very witty. Wit many times may come with an element of suprise... a new angle that was previously "unthought" of.
Cheers!
