Why does the supply curve slope upward
Explain the law of supply. Why does the supply curve slope upward?
Expert
As prices rise because of increased demand for a commodity, producers find it more and more profitable to increase the quantity they offer for sale whereas supply curve will slope upward from left to right. Clearly, firms would rather sell at a higher price than at a lower price. Furthermore, it is essential for firms to demand a higher price as they increase production. This comes about because as they produce more, they initiate to run up against capacity constraints and costs rise. As manufacturing increases firm will need to add an extra shift and then a third shift, mutually conceivably at higher wages. It may run out of warehouse space and have to rent at higher cost from another firm.
Explain how government might manipulate its expenditures and tax revenues to reduce unemployment?
Explain the demand for bagels rises dramatically while the demand for breakfast cereal falls?
A grocery store chain is considering ways to improve the performance of the waiting lines at their checkout stands. A heavily trafficked checkout stand is monitored for 120 min. In that period, 60 customers have their groceries rung up, and depart from the store. The
Not between exact activities for government to undertake, according to Adam Smith, would be for the government to: (1) maintain public institutions and public works. (2) protect society by invasion. (3) serves as a medium for law and justice. (4) regu
A perfectly competitive industry achieves allocative efficiency since: w) goods and services are produced at the lowest possible cost. x) services and goods are produced up to the point where the last unit gives a marginal benefit to consumers equivalent to the margin
Write down the steps carried out for proper control on capital budgeting process?
How do you account for the dominant role of corporations in the U.S. economy?
How do households dispose of their income?
Elucidate the growth record of the United States?
Explain the volume and pattern of U.S. and World Trade?
18,76,764
1951110 Asked
3,689
Active Tutors
1448144
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!