The balance between supply and demand is known as the market equilibrium.
The supply and demand are determined through the price mechanism in a free market. Such as if the goods or services are bought more frequently then their prices will go up and vice versa.
This means that the price mechanism helps to determine what goods are to be produced. In the case where the demand for good increase will result in price go up and will ultimately result in producers supplying more of those goods.
This system of price helps to scale the point where competing demands may be weighed by the consumer or producer requirements.
However, the movement towards the price equilibrium and the resulting balance between the supply and demand is known as the market equilibrium.
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Answer:
E) Bright: No dominant strategy, Sparkle: Strategy 1
Explanation:
The payoff matrix above shows the profits associated with the strategic decisions of two oligopoly firms, Bright Company and Sparkle Company. The first entries in each cell show the profits to Bright and the second the profits to Sparkle. What are the dominant strategies for Bright and Sparkle, respectively?
Bright: No dominant strategy, Sparkle: Strategy 1
Answer: 20,000 pounds of CO₂
Explanation:
30 mpg car.
Number of gallons of gasoline used:
= 60,000 / 30
= 2,000 gallons
CO₂ released = 2,000 * 20
= 40,000 pounds
20 mpg car
Number of gallons used:
= 60,000 / 20
= 3,000 gallons
CO₂ released = 3,000 * 20
= 60,000 pounds
Difference:
= 60,000 - 40,000
= 20,000 pounds of CO₂
The assessment ratio, which is used to convert the value of property to the assessed value, can also be considered <u>Equalization Rate</u>.
<h3>What is the equalization rate?</h3>
The equalization rate is the ratio of the total assessed value (AV) to a municipality's total market value (MV).
The equalization rate is a measurement of a municipality's level of assessment (LOA) by the state.
This implies that the municipality determines the AV while the state determines the MV.
Thus, the assessment ratio, which is used to convert the value of property to the assessed value, can also be considered <u>Equalization Rate</u>.
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