In a free market, supply and demand determines a. the type and number of goods produced.
Supply and demand is an economic principle that states that the price of a good or service is determined by the interaction of supply and demand. Supply refers to the amount of a good or service that is available, while demand refers to the amount of a good or service that people want to buy.
In a free market, the price of a good or service is determined by the interaction of supply and demand. If there is more demand for a good or service than there is supply, the price will go up. If there is more supply than there is demand, the price will go down.
Option A is correct.
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Answer:
They were used to support infantry help cross trenches. Because of their armor and speed, they were not really that effective, however they did scare the enemy. The tank was first employed by the British in 1916.
Taxation without representation
All the cost sums up to $4,000 when there is no extra charge. In this case, the opportunity cost is the same with the total cost. In this case Mikael is willing to forgo $4,000 for this opportunity and it makes his opportunity cost. However, since the transportation expenses become $1,200 instead of $1,000. We don't know exactly he buys this ticket or not, but since it is said that "while he was booking", we have to consider that he buys the ticket. The hotel costs $1,500 and it cannot be redeemed. However, $2,700 is a sunk cost, not an opportunity cost. Because in this case, Mikael does not have any alternative. He gave up from his decision in the end.
The cost of opportunity in this scenario is Mikael decision to the forgo seeing Ouro Preto during his stay in the Brazil.
Cost of Opportunity is refers to the decision making process people use in the terms of how they spend their times, money or resources. This term was refers to the loss that a person suffer by picking a certain options. In this case, does't want Mikael to cut his foods budget. Instead, he pick to skip visiting Ouro Preto. So this represents how the Mikael is losing out on seeing this site in order to eat the food he wants while on the vacation.
All the cost of the sum up to the $4,000 when there are no extra charge. On this case, opportunity cost is the same as the total cost. In this case, Mikael is willing to the forgo $4,000 for this opportunity and it make his opportunity cost. So, since the transportation expenses become $1,200 rather than of $1,000. We don't know to exactly if he buy this ticket or not, but since it is said that "while he was booking", we have to consider that he buys ticket. The hotel costs $1,500 and it cannot be redeemed. However, $2,700 is the sunk the cost, not an opportunity cost. Because in this case, Mikael does not have any alternative. He gave up on his decision in the end.
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b. 12/16, 7/16, 10/16
c. 9/16, 49/16, 36/16
d. 24/32, 14/32, 24/32