I believe there are fewer opportunities for differentiation in nature industries because the trend toward commodization married the scope for differentiation and reduced customer willingness to pay.
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Answer:
C. It results when the free market equilibrium quantity is higher than the optimal equilibrium quantity.
D. The open access to common resources results in their depletion through overuse.
Explanation:
The tragedy of the commons is a problem in economics that could be arise at the time when an individual reject the society well being for the personal motive. It would result in excess consumption and the depletion of the resources
So as per the given options, the option c and option d is to relevant as it directly linked to the meaning of the tragedy of the commons
Answer:
a) see attached graph. There is nothing unusual with the supply curve, it is simply fixed. This happens to most services, e.g. there is a fixed number of hotel rooms available for rent, in the short run you cannot add more rooms per night if the demand increases. In order to increase the quantity supplied, you would need to build a larger hotel, or in this case, a larger stadium.
b) the equilibrium price is $8 and the equilibrium quantity is 8,000 tickets
c) if the college plans to increase enrollment, the demand might increase, leading to a higher equilibrium price, but the supply will remain the same until the stadium is expanded.
Explanation:
Price Quantity Demanded (Qd) Quantity Supplied (Qs)
$4 10,000 8,000
$8 8,000 8,000
$12 6,000 8,000
$16 4,000 8,000
$20 2,000 8,000
Answer: Expectation and norms
Explanation: In simple words, expectation refers to the believe that something would happen in the future in a certain way. While norms refers to something that is standard and very probable ion nature.
It is automatically assumed that young employees will use more technology as their generation is the when where the technology gained its pace. Thus, the assumption in the statement shows expectations and norms.
Standard deviation is an amount of the dispersion of a group of data from its mean. It is computed as the square root of variance by distinguishing the variation amid each data point relative to the mean. If the data points are distant from the mean, there is greater deviation within the data set. But since not all are given in this problem Dot can use some previous knowledge about the population, undertake a pilot study or approximation the range (7), and divide by 6.
