Provide the economic term/concept for this description. *NO ABBREVIATIONS*

Simon is a buyer represented by Peter. Peter shows Simon several homes currently on the market. What is Peter's relationship to

Fed [463]

Answer:

The sellers are peter’s customers.

Explanation:

The sellers are peter’s customers because in this situation peter is showing them the houses available in the market. Thus we can consider that the owner of the homes is customers to Peter because here the work of peter is to help in the sale of homes. Therefore it may be said that the sellers are peter's customer.

5 0

3 years ago

When you buy in bulk, the price per individual item .

iogann1982 [59]

Answer:

Decreases

Explanation:

The seller is willing to diminsh price if he can sell more units of anygiven product.

3 0

3 years ago

(Table: Cherry Farm) Use Table: Cherry Farm. If Hank and Helen have one of 100 farms in the perfectly competitive cherry industr

Dmitry_Shevchenko [17]

Answer:

500

Explanation:

please find attached the table referred to in this question and a second table where marginal cost is included

A perfect competition is characterised by many buyers and sellers of homogeneous goods and services. Market prices are set by the forces of demand and supply.

in a perfect competition, price = marginal cost = marginal revenue

Marginal cost = total cost 2 - total cost 1

e.g. marginal cost at 2 units of output = $7 - $2 = $5

Hank and Helen would supply at the point where marginal cost is equal to $5.

looking at the second attached table, there are two points where marginal cost is equal to $5. at output 1 and output 5.

at output one, Hank and Helen would be earning a loss because total cost is greater than total revenue. so they would not supply at this point.

at output five, Hank and Helen would earn a profit and thus would supply at 5 units of output.

Since all firms face and identical cost structure, the industry supply would be 100 x 5 = 500 pounds

6 0

3 years ago

Are you dreaming of buying your own car, visiting a new city or learning a language— but aren’t sure how to get there? The key t

Alekssandra [29.7K]

Answer:

The steps to reaching your goals are:

Step 1: What is your goal?

Step 2: What is your why?

Step 3: What will it cost you?

Step 4: What is your action plan?

Step 5: How will you stick to the plan?

Explanation:

Step 1: What is your goal?

You have to be clear on what you want. Take for instance, you dream of buying your own car, write it down.

Step 2: What is your why?

State reasons why you need a car of your own. Is it for business runs or to aid your movement? you have to specify all the reasons.

Step 3: What will it cost you?

Do a market survey for best prices and car options.

Step 4: What is your action plan?

Can you afford it immediately or would you prefer to save up, pay in installments, etc

Step 5: How will you stick to the plan?

Give yourself targets according to your action plan and put yourself in check to ensure that you stick to the plan.

5 0

3 years ago

The QuickBooks Online ecosystem gives you and your clients access to a wide range of (1.)__________ to help (2.)___________ thei

Debora [2.8K]

Answer:

Apps,streamline

Explanation:

The QuickBooks EcoSystem can be regarded as a quick box software along with different apps that has connection with it. It brings about good functionality in Businesses, through QuickBooks EcoSystem, accountant of a company can easily connect with different apps that allows to manage client and improve productivity. It should be noted QuickBooks Online ecosystem gives you and your clients access to a wide range of apps to help streamline their business and increase efficiencies.

8 0

3 years ago