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I am learning about scarcity in my SS 6th grade and I am unsure about this question. Which sentence best tells the effect of scarcity on economics? A. Scarcity shapes decisions about how to distribute goods B. because resources are scarce consumers buy fewer goods C. Scarcity makes people work harder to make more money D. The existence of scarce resources forces people to make choices
Alchem (L) is the price leader in the polyglue All 10 other manufacturers (follower [F] firms) sell polyglue at the same price as Alchem. Alchem allows the other firms to sell as much as they wish at the established price and supplies the remaind..
Levi Strauss successfully markets Levi jeans on the History channel as a way for older men to stay young forever. What will happen in the jeans market ceteris paribus?
If the optimal number of facilities that minimizes the total logistical cost for a certain supply chain is five, what would be a logical justification for decision makers of this supply chain to build more than five facilities?
Newbury Drug has recently offered to purchase 25,000 bottles of aspirin that they will sell in their stores under a generic label. Newbury has offered to pay $3.95 for each bottle of aspirin. The controller of Lydek in analyzing the offer has de..
Calculate Alex's income elasticity of demand for bagels and what is the pasta sauce makers' estimate of the cross elasticity of demand for pasta sauce with respect to the price of pasta?
Suppose your supervisor has been asked many questions about how economy works and why the idea of limited resources is such a major concern in today's economy.
The effective capacity and efficiency for next quarter at MMU Mfg. in Waco, Texas, for each of three departments are given below. Compute the expected production for next quarter for each department.
Demand and Supply curves. The following relations explain demand and supply conditions in the wheat industry:
Which of the following increases the political power of special interest groups and makes counterproductive government action more likelyA car sells at different prices at different dealerships in a local market. If a consumer has imperfect informa..
The government dislikes smoking, and likes tax revenue. If they wanted to increase the after-tax price to $10 per pack, what size of excise tax must be placed on sellers? How much revenue will it raise? What will be the Deadweight Loss?
Describe at least two actions a manager can take to protect her or himself and the organization she or he represents from a tort lawsuit.2. Create a list of five best practices that managers in most industries could take to protect the privacy of ..
The total relevant cost of holding inventory in a plant for purchased materials is given, TRC = (6000/Q)(60) PLUS 0.30(12)(Q/2) PLUS 6000(12) WHERE Q IS THE ECONOMIC ORDER QUANTITY.
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