President Andrew Johnson was impeached because he violated the Tenure of Office Act
Answer: A. True
Explanation:
The basic principle associated with the economics is that the goods, products, and services are limited and demand increases considerably to produce them. The resources used for the production also increases considerably. The scarcity principle of economics deals with the limited supply of the goods that is coupled with the increase in demand this results in the mismatch between the demand equilibrium and desired supply.
You can choose a price that <u>maximizes your profits</u>.
<u>Explanation</u>:
If you are the only clothes producer in the industry, it is known as monopoly. Monopoly means a single seller selling a unique product without competition.
The monopoly seller has the right to choose the price for his goods. He can fix the price in the way to maximize his profit. As he is the sole seller, he will not have any competitions in the industry. This in turn helps him to make lot of profit on producing clothes with full freedom in fixing the price of the clothes.
