State the law of supply and explain how it relates to opportunity cost.
Question:
State the law of supply and explain how it relates to opportunity cost.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 0% (1 review)
The law of supply states that all else being equal as the price of a good or service increases the q...View the full answer
Answered By
Somshukla Chakraborty
I have a teaching experience of more than 4 years by now in diverse subjects like History,Geography,Political Science,Sociology,Business Enterprise,Economics,Environmental Management etc.I teach students from classes 9-12 and undergraduate students.I boards I handle are IB,IGCSE, state boards,ICSE, CBSE.I am passionate about teaching.Full satisfaction of the students is my main goal.
I have completed my graduation and master's in history from Jadavpur University Kolkata,India in 2012 and I have completed my B.Ed from the same University in 2013. I have taught in a reputed school of Kolkata (subjects-History,Geography,Civics,Political Science) from 2014-2016.I worked as a guest lecturer of history in a college of Kolkata for 2 years teaching students of 1st ,2nd and 3rd year. I taught Ancient and Modern Indian history there.I have taught in another school in Mohali,Punjab teaching students from classes 9-12.Presently I am working as an online tutor with concept tutors,Bangalore,India(Carve Niche Pvt.Ltd.) for the last 1year and also have been appointed as an online history tutor by Course Hero(California,U.S) and Vidyalai.com(Chennai,India).
4.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
1. First make a distinction between microeconomics and macroeconomics, and then provide examples of each. 2. Principles of economics, including opportunity cost and scarcity. Using your own words...
-
1.what is the implicationof the Appointment of Receiver when harmonizing the pay rates and taxes in finance and its dynamic disciplines like that insurance premium, interest payable under charge?...
-
State the law of demand and explain how it relates to the principle of rational choice.
-
Rhenium forms a series of solid oxides: Re2O7 (yellow), ReO3 (red), Re2O5 (blue), and ReO2 (brown). One of them has a crystal structure with the following unit cell: a. How many rhenium atoms (gray...
-
Consider a wave on a string with constant tension. If the frequency of the wave is doubled, by what multiplicative factor do (a) The speed (b) The wavelength change?
-
\(\omega_{1}\) is near \(90 \mathrm{rad} / \mathrm{s}\) and \(\omega_{2}\) is near \(60 \mathrm{rad} / \mathrm{s}\) A DOF system with a cubic nonlinearity has a linear natural frequency of \(120...
-
What will be the final equilibrium temperature when \(100 \mathrm{~g}\) of water at \(30^{\circ} \mathrm{C}\) and \(200 \mathrm{~g}\) of water at \(80^{\circ} \mathrm{C}\) are mixed in an insulated...
-
The demand for subassembly S is 100 units in week 7. Each unit of S requires 1 unit of T and 2 units of U. Each unit of T requires 1 unit of V, 2 units of W, and 1 unit of X. Finally each unit of U...
-
We review long-lived assets for impairment when circumstances indicate the carrying amount of an asset may not be recoverable based on the undiscounted future cash flows. If the carrying amount of...
-
If the supply curve is perfectly inelastic, what is the opportunity cost of the supplier?
-
Your study partner tells you that if you are compensated for the impact on your budget of a rise in the price of a good, your purchase choices wont change. Is he right? Explain.
-
How do the manufacturing costs incurred during a period differ from the cost of goods manufactured for a period?
-
A employee wants to choose a non-complying super fund and he asks you for general guidance. Explain the differences between a complying and non-complying fund. How this might affect the employee's...
-
There are two parts to this week's posting: Part 1 - How are is your stock portfolio doing, and did you modify your investment portfolio in Week 5? Part 2 - In the final section of your posting for...
-
Long-term care insurance policies (LTCI) offer inflation protection options that ensure benefits keep up with the increasing long-term care costs. These options can include automatic compound...
-
Mrs Young changes employers at age 46. She is given $8500 as her vested benefits in the company's pension plan. She invests this money in a registered retirement savings plan paying 8%, compounded...
-
According to Gleeson-White (2014, p.216), "When I first considered the six capitals model, it seemed to offer a way to argue for the value of employees (or the other living capitals) and against...
-
In an assigned group or individually (if so assigned), go to the Web site for Chrysler LLC at www.chryslerllc.com. Using this Web site and other Internet information about Chrysler LLC, answer the...
-
Is it ethical to provide safety training in English to immigrant workers who speak little English, in order to reduce costs?
-
Phil and Cathy are roommates who are taking the same economics class. This morning Phil wakes up and is trying to decide whether to go to class or not. He knows that if Cathy is going to go to class...
-
AT& T and MCI are competing in the long- distance telephone market. Both companies are considering whether to offer a discount calling plan to attract new customers. Their payoffs depend as follows...
-
Firm 1 and firm 2 are automobile producers. Each has the option of producing either a big car or a small car. The payoffs to each of the four possible combinations of choices are as given in the...
-
1. Characteristics of a quantitative study include all of the following except: a.clarifies underlying assumptions. b.asks who, what, why, where, when, or how. c.describes the relationship between...
-
1.A nurse manager attempts to explain why the greatest number of medication errors occurs during the evening shift. The nurse manager chooses a quasi-experimental design to study this relationship....
-
Much attention is given to the multigenerational clinician workforce. But what about the multigenerational administrative workforce? Are the challenges similar? Provide an example, either within your...
Study smarter with the SolutionInn App