If i right food water and air
Answer:
The correct words for the blank spaces are (<em>in that order</em>): low; high; opportunity; reservation.
Explanation:
For buyers and sellers to benefit from a transaction, the price of the goods or services offered must be at equilibrium. It implies the price is low enough for consumers to consider purchasing the product and high enough for producers to offer it earning a profit.
Besides, producers should consider their opportunity costs which are the costs of adding one more unit for production. On the other side of the road, consumers consumer their reservation price which is the maximum amount of money they could pay for a good or service based on the value they give to the product.
Answer:
The answer is A) Rational self-interest because he is attempting to increase his own income by identifying and satisfying someone else's wants.
Explanation:
Traditional economic theory is based on three fundamentals, the first one being we are all rational consumers or suppliers.
Alex is trying to earn some money, completely rational and intelligent. He is able to do it by satisfying his neighbors´ need for lawn mowing.
Is he greedy? Probably yes, but he is still rational. No one is forced to pay his fee, so his also rational neighbors will decide if the price is correct or not. Those who believe the price is correct will hire him. If someone believes his is charging too much and that they can offer the same service for a lesser price, should show up and offer their cheaper services.
Can people who buy a 25 million dollar car be considered irrational? No they can´t, because for them is probably an investment or they simply have tons of money and like extremely expensive cars. What one person considers expensive may be considered cheap by someone else.
Machinery repairs, property taxes, salaries for workers variable: number of workers, what crop is being produced, gas for machinery.
Answer:
enforceable even without Robin's signature because both parties are merchants.
Explanation:
Enforceable law defines when one person performs legally contract and that party enforce or impose to the other.
Therefore in the given situation, Robin sends the written confirmation of the sale, which was sufficient under the statute of frauds, Bellman signs and Robin fails to send the goods. So, this contract is enforceable because without Robin's signature because both parties are merchants.
