Economics teaches logical thinking and clear reasoning. This not only promotes success on a personal and professional level, but it also helps students be ready for graduate school and law school.
The production, trade, and consumption of goods and services are all topics covered by the social science of economics. The study of economics focuses on the operation of economies as well as the activities and interactions of economic actors. Microeconomics is the study of the interactions between what are considered to be the basic elements of the economy, such as market and agent activity. Any number of customers, including residences, businesses, buyers, and sellers, can be represented by an individual agent. Macroeconomics is the study of the economy as a coexisting system of production, consumption, saving, and investment. It also examines the factors that affect this system, including as the employment of labor, capital, and natural resources, currency inflation, economic growth, and governmental policies.
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Which factor of production is considered as a produced means of production?
A. Land
B. Labour
C. Capital
D. Organisation
Answer:
C
Explanation:
Why Was No Federal Income Tax Withheld From My Paycheck?
Your employer did not have your correct Form W-4 on file, which tells them how much tax to withhold from your pay.
Another possibility is that you claimed exempt status on your Form W-4, which means you do not have to have any taxes withheld from your pay until you file your tax return.
Additionally, if you have multiple jobs, or if your combined income exceeds a certain threshold, you may need to make estimated tax payments to the IRS to avoid underpayment penalties.
It's possible that the withholding tax is not being calculated correctly by your employer or their payroll department. If this is the case, you may want to reach out to your employer or their payroll department to ask them to check and make sure that your W-4 form is accurate and that the correct amount of taxes are being withheld.
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What are the three decisions that economic systems make about goods and services?
The three decisions that economic systems make about goods and services are what to produce, how to produce, and for whom to produce.
Economic systems must make decisions about what goods and services to produce in order to fulfill the needs and wants of society. This decision is based on the resources and technology available, as well as the overall goals of the society. For example, a capitalist economy may prioritize the production of goods and services that will yield the highest profits, while a socialist economy may prioritize meeting the basic needs of all citizens.
Economic systems must also decide how to produce goods and services, taking into account factors such as efficiency and cost. Different economic systems may have different methods of production, such as using private ownership and markets in a capitalist economy or using central planning and state ownership in a socialist economy. Finally, economic systems must decide for whom to produce goods and services, taking into account factors such as distribution of wealth and access to resources.
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lijuan and jin live on an island where they are the only two workers. lijuan can either catch 10 fish or gather 40 pounds of berries each day, and jin can either catch 8 fish or gather 24 pounds of berries each day. both of them work 200 days per year. at current world prices 1 fish trades for 3.5 pounds of berries. who has the comparative advantage in producing berries?
Lijuan has the comparative advantage in producing berries. People have a comparative advantage in production if they produce at a lower opportunity cost than others.
Opportunity cost of Lijuan producing berries = 10/40 = 0.25
Opportunity cost of Jīn producing berries = 8/24 = 0.33
Lijuan has a comparative advantage in berry production due to its low opportunity cost of producing berries.
In an economic model, an agent has a comparative advantage over others in producing a particular good if it can produce the good at a lower relative opportunity cost or subsistence price.
Relative pre-trade marginal costs are low. Comparative advantage represents the economic reality of labor gains from trade resulting from differences in factor endowments or technological progress of individuals, firms, or nations.
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jamie has a presentation to give to his organization. he knows his material, but still has anxiety over speaking to more than one person. which issue is the most likely to hold jamie back from speaking?
The most likely issue to hold Jamie back from speaking is stage fright or performance anxiety.
What is anxiety?Anxiety is a normal emotional response to stressful situations. It is a feeling of fear, worry, or unease about a situation, and can range from mild to severe. Anxiety can manifest as physical symptoms such as increased heart rate, restlessness, and trouble sleeping.
This is an anxiety disorder in which a person experiences intense fear or anxiety when asked to perform in front of an audience, even if it is just one other person. Symptoms of stage fright include a racing heart, sweating, nausea, and trembling. It can be very difficult to overcome this fear, but there are strategies that can help, such as deep breathing, positive self-talk, and visualization.
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What are the problems faced by consumers?
Faulty and unsafe products, Shop breakages and Poor quality or incomplete work are the problems faced by consumers.
What difficulties are customers experiencing?One of the most typical issues that buyers run into when shopping online is the product's quality. Online shopping frequently leaves consumers uncertain as to the quality of the things they are receiving. Research can't provide you with a 100% guarantee of a high-quality product, and reviews aren't always trustworthy.
Why is it critical to address consumer issues?What makes problem-solving in customer service crucial? Because you want your consumer to be satisfied and happy, it is essential to resolve customer service issues. Additionally, it enables the company to find areas of service that need improvement and plan how to proceed.
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which project management knowledge area is an overarching function that affects and is affected by the different knowledge areas? group of answer choices project cost management project stakeholder management project integration management project communications management
The concept given is Project management, which is the process of leading the work of a team to achieve all project goals. The answer is, project integration management.
Project management is the process of directing a team's work to achieve all project goals within specified limits. This information is typically described in the design documentation that is created early in the development process.
The main constraints are scope, time, and budget. Project integration management is an area of project management competency that helps teams work together more seamlessly.
Integration management brings together various processes, systems, and methods to form a coherent strategy. To achieve this, you have to make negotiations.
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one stakeholder wants high wages, the other wants lower costs. what two stakeholders may be in conflict over this?
One stakeholder wants high wages, the other wants lower costs. Two stakeholders who may be in conflict over this issue are employees and owners. As employees want high wages and owners want lower costs.
Give a brief account on stakeholders.A party with an interest in a company and who could influence or be affected by it can be regarded as a stakeholder. Most of the stakeholders in a normal corporation are investors, employees, customers, and suppliers. The idea has been expanded to encompass communities, governments, and trade groups, though, as corporate social responsibility has drawn more and more attention. Both internal and external stakeholders may be a part of a company. People who have a direct interest in a firm, such as through employment, ownership, or investment, are said to be internal stakeholders. External stakeholders are those who do not directly work for a company but are nonetheless impacted in some way by the decisions and results of the enterprise. External stakeholders consist of a number of organisations or groups such as government agencies, borrowers and so on.
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Why does a mixed market economy have the most economic freedom?
A mixed market economy combines the strengths of both a market economy and a planned economy.
It allows for both private and public ownership of businesses, giving individuals the freedom to make decisions about how and where to invest their money. This freedom of choice gives individuals the power to create wealth and drive economic growth.
At the same time, government regulation is in place to protect consumers, ensure fair competition, and promote economic stability.
The result is an economy that offers the most economic freedom, allowing people to pursue their passions, innovate, and create new opportunities.
A mixed market economy offers the most economic freedom, allowing individuals to make their own decisions in the marketplace without excessive government intervention.
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texas instruments ti-30xs multiview scientific calculator
TI-30XS MultiView is a Non-programmable scientific calculator. It has a lot more functions in addition to the typical scientific calculator. its simple because to the organisation of the buttons, which is comparable to that of the majority of TI calculators.
Texas Instruments TI-30XS MultiView Scientific CalculatorIt has a lot more functions in addition to the typical ones you would find on a scientific calculator. Finding what you're looking for is rather simple because to the organisation of the buttons, which is comparable to that of the majority of TI calculators.
The TI-30XS contains a tonne of features for a scientific calculator, while being slightly less capable than the TI-36X Pro. Nearly all of the capabilities that it lacks compared to the TI-36X Pro are ones that you would typically only find on a graphing calculator.This TI calculator has MATHPRINT, just like the majority of more recent models. This means that the calculator can print expressions in a manner similar to that of a handwritten expression or a textbook.In essence, you can enter a function here, and an X and Y table will be constructed. You may navigate the coordinates by scrolling through them, and you can even instruct the table where to start the X value so that you can jump to a certain location.Examine important patterns by scrolling through earlier entries, viewing them, and pasting them into a new calculation. On SAT, ACT, and AP tests, the TI-30XS MultiView scientific calculator is accepted.The TI-30XS MultiView™ Scientific calculator uses one 3 volt CR2032 lithium button cell battery.Runs on solar and battery power. Includes a protective coverAvailable on Almost every Online Sites.To know more Related to Texas Instruments TI-30XS MultiView Scientific Calculator,Refer to:
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Millie and Noble dispute the quality of a suite of furniture sold over the Internet. They agree to resolve their dispute in OpenTerms. Com, an online forum. Like most online forums, OpenTerms. Com applies
a. general, universal legal principles.
b. international principles provided by the United Nations.
c. the law of the Internet.
d. the provisions of the Federal Magistrates Act
Like most online forums, OpenTerms. Com applies general, universal legal principles.
A law doctrine or legal principle of law is a framework, rule, procedural step or test, often established by common law precedents that can determine a judgment in a particular case.
Law doctrine arises when judges make decisions that outline and apply procedures so that they are equally applicable to similar cases.
If enough judges make use of this procedure, it may become established as the de facto method for deciding similar situations.
General legal principles are a set of statements that provide information about how legal norms work. They are not explicitly included in the constitution or law but are part of the country's legal order.
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What are customer experience technologies?
Customer experience technologies are tools and systems that help organizations improve the customer experience. Examples : Automated chatbots and Artificial intelligence (AI).
What are customer experience technologies?
Customer experience technologies are tools and systems that help organizations improve the customer experience. Examples of customer experience technologies include customer relationship management (CRM) software, customer feedback surveys, customer analytics, AI-driven chatbots, customer service automation, and personalization tools. These technologies help businesses automate customer service processes, improve customer understanding, and enhance the customer journey. By using customer experience technologies, businesses can quickly identify and resolve customer issues, personalize experiences, and create a more engaging customer experience.
Why are customer service necessary?
Customer service is necessary because it is the primary way that companies interact and build relationships with their customers. Through customer service, companies can respond to customer inquiries, resolve customer complaints, and provide guidance and support. Good customer service is essential for providing customers with a positive experience that leads to loyalty and repeat business.
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When determining a form of business organization in the U.S., all of the following are considered EXCEPT:A. Who owns the firm.B. What are the owners' risks.C. What are the tax ramifications.D. The physical location of the business.E. None of the above.
All of the following, with the exception of the business's actual location, are taken into account when choosing a business organisation type in the US.
Why is it not taken into account?The type of business organisation is independent of a company's physical location.
What are the three most prevalent business structures in the US?There are three main business structures: the sole proprietorship, the partnership, and the corporation. Each has advantages and drawbacks of its own.All business plans should include the executive summary, marketing plan, key management bios, and financial plan parts since they are essential.
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why might a student consider attending a school with a high sticker price?
A student might consider attending a school with a high sticker price as a school with a high sticker price might have more money to offer you.
Sticker price are considered to be the published tuition and fees whereas the net price is what the student tends to pay after the financial aid. Thus, the total yearly cost of a school education is thus called its sticker price. This price includes the total cost of many things.
However, a school with a high sticker price might have more money in order to offer you, which means that you might have to borrow and pay back less money. So, a student might consider attending a school with a high sticker price.
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when nate addresses the meeting, he is most concerned about getting the group to immediately adopt his proposal. what type of communication goal does this represent?
When Nate addresses the meeting, he is most concerned about getting the group to immediately adopt his proposal. The type of communication goal this represent is content goal.
In daily contacts and for the success of any organization or individual, effective communication is crucial. Delivering vital messages and achieving desired outcomes are made simpler by setting communication goals. But creating communication objectives that support your strategy and boost productivity might be difficult.
Communication goals are predetermined objectives for conveying knowledge, emotion, and information. The broad purposes and ambitions of communication are defined by communication goals, which may not always be simple to quantify for both people and companies. Goal-oriented communication is a constant in business. Goals for effective corporate communication should be precise and quantifiable since they are crucial to putting company strategy into action.
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Information for each transaction recorded in a journal is called
A journal is a record-keeping tool used in accounting to document financial transactions. The information recorded for each transaction in a journal is called a journal entry.
What is journal entry?Description: A brief description of the transaction.Debit and Credit: The accounts affected by the transaction and the amounts debited or credited to each account.Reference number: A unique identifier for the transaction, such as a check number or invoice number.Debits and Credits must equal: Debits and credits must always equal, as they are the two sides of a transaction. The total of debits must equal the total of credits in order to maintain the double-entry accounting system.Supporting documentation: Copies of supporting documents, such as invoices or receipts, may also be attached to the journal entry for reference.Accounting period: The accounting period in which the transaction occurred.Journal entries serve as the foundation for the accounting records and are used to update the general ledger, which is a record of all the financial transactions for a business. Journal entries must be accurate, complete, and reflect the true nature of the transaction.To learn more about journal entry refer:
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which type of transaction requires that the parties to the transaction receive brokerage relationship disclosures?
A transaction that requires the parties to receive brokerage relationship disclosures is an investment advisory relationship.
What is transaction?A transaction is an event or an occurrence that involves the exchange of goods, services, or money. It is the result of a business agreement between two or more parties and is recorded in the accounting books. Transactions are the backbone of the financial system, as they enable businesses to keep track of their income and expenses and maintain internal records. They also help facilitate payments, provide a basis for financial reporting, and assist in generating taxes. Transactions are recorded in the form of journals, ledgers, and other financial documents and are used to track the progress of a business. They provide an accurate record of all transactions and help to ensure the proper functioning of a business.
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What type of business is one of the best examples of perfect competition?
Farmers' markets is one of the best examples of perfect competition.
What is market?In economics, a market is a system, institution, process, social relationship, or infrastructure configuration in which parties exchange ideas. Although parties can exchange goods and services through barter, most markets rely on sellers offering goods and services to buyers in exchange for money.A market is a means by which the exchange of goods and services takes place through the contact between buyers and sellers, either directly or through intermediaries or institutions.Four general types of market structure include perfect competition, oligopoly market, monopoly market, and monopolistic competition.The market is defined as the totality of all buyers and sellers in the region or regions under consideration. A region can be Earth, Country, Region, State, or City. The value, expense, and cost of traded items are governed by market forces of supply and demand.To learn more about markets from the given link :
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Within the relevant range of activity, fixed costs remain constant in total. True or False
The entire amount of fixed costs stays the same for the relevant spectrum of activity. This assertion is accurate.
Rent and salary are examples of fixed expenditures that don't alter based on the volume of production. These expenses are incurred no matter how much is produced, and output adjustments have no impact on them.
The volume of output has no bearing on fixed costs. The overall fixed expenses remain constant when compared to the suitable range. The fixed cost per unit, however, decreases when output increases because the same fixed costs are spread out over a greater number of units.
As long as the firm operates within the relevant range of activity, fixed costs will remain constant. Once the firm exceeds the relevant range, this statement may not be valid anymore.
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How does a command economic system answer the three questions?
By deciding on allocations centralized by the government, command economic systems provide answers to the three problems.
A society's or a particular geographic area's system of production, resource allocation, and distribution of products and services is known as an economic system, or economic order[1]. A community's economic structure is made up of a variety of institutions, organizations, entities, decision-making procedures, and consumption patterns.
How these numerous organizations and institutions are connected to one another, how information moves between them, and the social relationships within the system are all included in the study of economic systems (including property rights and the structure of management). Market economies and planned economies, as well as the differences between capitalism and socialism, have long been the subject of comparisons and analyses of economic systems.
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if julia only wants to consume 10 pounds of coffee, and she agrees to trade oscar 3 pounds of bananas in exchange for 1 pound of coffee, how many bananas does julia gain compared to the initial situation without specialization and trade
Julia gains 27 pounds of bananas compared to the initial situation without specialization and trade.
What is trade?
Trade is the exchange of goods, services, and capital between two or more parties. It is one of the most important economic activities in any society. Trade is conducted through a number of different methods, such as bartering, selling, purchasing, trading, and exchanging. Although trade has been around since the beginning of civilization, it has become increasingly more complex and important in the modern economy. Trade helps to increase wealth and economic growth, as it allows people to specialize in certain areas and to access goods and services that they may not be able to produce themselves. Trade also increases competition and leads to better prices and more choice for consumers. In addition, trade can help to reduce global poverty, as it allows poorer countries to access resources and technology that they may not be able to produce or afford otherwise. This can help to boost their local economies and improve the standard of living.
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What are the three roles of government in a free enterprise economy?
To uphold law and order, defend the right of individuals to possess property, and enforce voluntarily entered into agreements, the government has the coercive authority.
What Is the Main Goal of Free Enterprise?Allowing citizens to control the market and determine the worth of commerce is the main objective of free enterprise. The basic objective of free capitalism is to let markets move freely, self-discovering efficiencies and errors, rather than relying on government interference or public policy.
Some would contend that freedom is the primary advantage of free enterprise. In a certain sense, people can transact with little to no barriers, especially ones imposed by trade laws or policy. In another sense, people are free to express themselves artistically and conduct business using a seemingly limitless variety of consumer options.
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the capital investment each year in the united states usually __________.
the capital investment each year in the united states usually increases.
Capital investment in the United States refers to the money spent on acquiring or upgrading physical assets such as buildings, machinery, and equipment. These investments are important for the growth and development of businesses and industries, as they allow for increased productivity and efficiency.
Historically, capital investment in the United States has tended to increase over time. This trend can be attributed to a number of factors, including a growing economy, advancements in technology, and increased competition among businesses.
Additionally, government policies such as tax incentives for businesses can also play a role in encouraging capital investment. Overall, the trend of increasing capital investment in the United States is a positive sign of economic growth and development.
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According to the article excerpted in the text entitled, "The Functions of Privacy," by Alan Westin, privacy has several functions in today's society.
These include:
a)Total freedom in the private life with no consequences to the work life.
b)The ability to vent anger at authority without being held responsible.
c)The ability to post critical information on the Internet without consequences at work.
d)The ability to spend time quietly analyzing the actions and reactions of other people
The correct answer is option b. "The Functions of Privacy," by Alan Westin, privacy has several functions in today's society is the ability to vent anger at authority without being held responsible.
The word privacy is referred as the right to be left alone, or freedom or intrusion. Information privacy is known as the right to have some control over how your personal information is collected and used. For example- A right to enjoy your time alone with your family and friends without any kind of disturbance and intrusion. Privacy not only gives us the power to choose our thoughts and feelings but it also allow us to share our thoughts with anyone. It protects our information, that we do not wanted to share publicly.
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aminah has a calculus exam tomorrow. however, a free lecture by one of her favorite authors is taking place this evening. aminah decides to attend the lecture instead of studying for her exam. aminah's opportunity cost of attending the lecture is:
The opportunity cost for Katherine to the lecture event as well as the grade she will receive if she doesn't study tonight.
The opportunity cost for Katherine is the expense of travelling to the lecture as well as the lower score she will receive on her physics exam as a result of not studying tonight.
Opportunity cost is the price paid for passing up a benefit or suffering a loss in favour of a more advantageous option. Here, Katherine is paying a price in terms of test scores in order to profit from listening to the lecture; this price is the opportunity cost of attending the lecture.
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staurant kitchen, and after finishing school, she found a position as a head chef. with her growing experience and advanced education, candice has been able to . a. successfully change occupations b. move up the career ladder c. follow a job trail d. enter the career cycle
With her growing experience and advanced education, Candice has been able to move up the career ladder. Hence, option B is correct.
The phrase "moving up the company ladder" simply refers to career advancement. For instance, you might have begun your professional life as a sales associate. You might receive promotions to shift manager, shop manager, and regional manager as time goes on.
A career ladder promotion is a promotion to the following higher grade level when a person moves up to the full performance level (FPL) of their employment without facing any competition.
The jobs that an individual may hold as they progress from an entry-level position to their desired rank are referred to as "career ladders." The career ladder for someone on the management route, for instance, can include positions like vice president, assistant manager, and deputy, area, senior, and general manager.
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The correct question is:
Candice’s first job was at the grocery store making deli food. While in culinary school, she worked part time in a restaurant kitchen, and after finishing school, she found a position as a head chef. With her growing experience and advanced education, Candice has been able to _____. A. Successfully change occupations b. Move up the career ladder c. Follow a job trail d. Enter the career cycle Please select the best answer from the choices provided A B C D.
one thousand units of product were examined for the possibility of five different undesirable characteristics. a total of 80 defects were found. how many defects would be expected in one million opportunities?
The expected number of defects in one million opportunities is 0.08.
What is defects?Defects are errors or flaws in a product or system. These flaws can cause the product to malfunction or not perform as intended. Defects can be caused by a variety of factors including design flaws, manufacturing errors, or even environmental factors.
The expected number of defects in one million opportunities can be calculated by multiplying the number of defects found in the original sample (80) by the ratio of the number of opportunities in the original sample (1000) to the number of opportunities in the new sample (one million).
This gives us 80 x (1000/1000000) = 0.08.
Therefore, the expected number of defects in one million opportunities is 0.08.
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what types of conditions influence a company's decision to avoid making business investments in other countries?
Wage rates, labour skill, tax rates, and the size of the selected economy are just a few of the elements that influence foreign direct investment.
What is foreign direct investment?
A foreign investor, business, or government acquires an interest in such a foreign firm or project through foreign direct investment (FDI).
In general, the term refers to something like a corporate decision to buy a large stake in a foreign firm or to purchase it entirely in order to extend operations into a new market. The term is rarely used to refer to a single stock investment inside a foreign company. Because it develops stable and long-term links between economies, FDI is a crucial component of global economic integration.
Mergers, acquisitions, and collaborations are examples of foreign direct investments within retail, services, logistics, and manufacturing. They suggest a global strategy for corporate expansion.
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customer privacy rules allow the disclosure of a specific customer's account information: a under no circumstances b to any third party that makes the request in writing c to a third party as necessary to complete a transaction requested by that customer d to any government agency that makes a request for information
Customer privacy rules allow the disclosure of a specific customer's account information c) to a third party as necessary to complete a transaction requested by that customer.
The importance of customer privacy and take every precaution to ensure that all of your personal information is kept safe.
Companies are committed to upholding customer privacy rules and regulations, and as such, only disclose a customer's account information to a third party when it is necessary to complete a transaction that has been requested by that customer.
Companies strive to ensure that all of our customers feel secure and confident when using our services.
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if the price is $15 per bottle, how many bottles of sunscreen are demanded and supplied in equilibrium? qd
According to the table, if the price is $15 per bottle, the quantity demanded is 5,000 bottles, while the quantity supplied is 2,500 bottles.
What is the supply-demand equilibrium?
An equilibrium price is the result of a balance of demand and supply factors. Prices have a tendency to return to this equilibrium unless some characteristics of demand or supply change. Changes in the equilibrium price occur when either demand or supply, or both, shifts or moves.
As a result, supply and demand are balanced. The demand and supply function (Qa - bP = x + yP) can be used to calculate it. When the supply equals the demand, the equation yields an equilibrium price.
Therefore, 2,500 bottles of sunscreen are demanded and supplied because the quantity supplied is less than the quantity demanded.
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