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The following will cause an increase in producer surplus is <u>the price of a substitute increases</u>.
What is surplus?
The amount of an asset as well as resource that is over the amount that is being actively used is referred to as a surplus. Income, profits, capital, and goods are just a few of the numerous things that can be referred to as a surplus. A surplus in the context of inventories refers to items that are still unsold and on store shelves. When income is earned and expenses are paid, there is a surplus in a budget. When there is excess tax revenue once all government programmes have been fully funded, governments can also experience a budget surplus. It's not always preferable to have a surplus. For instance, a producer who overestimates future demand for a particular product might produce too many unsold units, which could subsequently contribute to quarterly as well as annual financial losses.
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A manufacturer would need to find the production quantity where the marginal rate of return equals marginal costs (this is called the equilibrium point). This would be the point where profits are maximized.
Answer:
so here correct option is b. Strategic planning is done by top-level managers, whereas tactical planning is done by middle-level managers
Explanation:
we know that strategic plan is a course of action that is a long term goal and generally up to 5 years while tactical planning course of action is short term goal and generally with in a year or less than year
and
In strategic plan top management must develop and use summary report on finances and operations and external environment while tactical planning have shorter time frame and narrower scope than strategic so middle level management do it
so here correct option is b. that is strategic planning is done by top level manager and tactical planning is done by middle level manager
Answer:
False is the correct answer.
Explanation:
