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kyliee

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Profit equals the total amount of money made minus the production cost. the opportunity cost. the revenue earned. the price established. Mark this and return
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How can producers make the most profit? Check all that apply. They can work to increase their marginal cost. They can work to decrease their marginal cost. They can raise prices to increase marginal revenue. They can low...
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The chart shows a production possibilities schedule for Sabrina’s Soccer. If the market for soccer balls is saturated and the market for soccer nets is open, which combination makes the most sense for Sabrina’s Soccer? A...
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Read the factors of production for two businesses: In Case manufactures cases for smart phones, while Wrap It Up is a gift-wrapping service. In Case • $1,500 a month for rented building • Will need two new employees • $2...
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The graph shows a production possibilities curve for Sabrina’s Soccer. At which two points will Sabrina’s Soccer produce the most equal amounts of soccer balls and soccer nets? points A and B points C and D points E and...
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Sabrina’s Soccer produces soccer balls and soccer nets, which are sold at sporting goods stores. Which factors directly affect the company’s profit? Check all that apply. a stocking up on soccer cleats and uniforms a ris...
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If consumer sovereignty is considered greatest in a system of pure competition, why is sovereignty still limited? Consumers still rely on producers’ set prices. Few products are actually sold on the basis of pure competi...
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Which is an example of a government monopoly in the United States? the US Postal Service the Internal Revenue Service (IRS) the US Environmental Protection Agency (EPA) the National Park Service
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Why is competition limited in an oligopoly? High entry costs prevent new producers from entering the market. Producers completely refuse to engage in price wars. No major distinctions exist between producers. Producers a...
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Clark’s Cleaners is a housekeeping service. The company’s expenses include the money the company earns after paying all of its production costs. cleaning supplies and any equipment the company purchases. total amount of...
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Producers often work to maximize their and make them as large as possible.
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In order to calculate marginal cost, producers must compare the difference in the cost of producing one unit to the cost of purchasing a unit. distributing that unit. producing the next unit. producing a different unit....
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Brenda’s Boards manufactures skateboards. Each skateboard sells for $45 and includes the following expenses: $3 for the wheels and mounts, $1 for the plastic board, $1 for the paint, and $10 for the labor. What is the to...
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What is the difference between profit and revenue? Revenue is the total amount producers receive after selling a good. Profit is the total amount producers earn after subtracting the production costs. Revenue is the tota...
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Which is an example of a product that is considered a need? breakfast food music player sports equipment video game
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In economics, if a good is inelastic, consumers have lost an interest in purchasing it. producers have lost an interest in manufacturing it. its supply or demand is too sensitive to price changes. its supply or demand is...
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The graph shows a point of equilibrium. A graph titled Supply and Demand Equilibrium has Quantity Supplied on the x-axis, from 0 to 50 in increments of 10, and price in dollars on the y-axis, from 0 to 18 in increments o...
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Which occurs during market equilibrium? Select two options. Supply and demand meet at a specific price. Supply is slightly greater than demand. Supply and demand meet at a specific quantity. Supply and demand meet at a d...
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Which explains the connection between the law of demand and excess demand? The law states that decreases in price leads to greater quantity demanded and limited supply, which occurs during excess demand. The law states t...
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Disequilibrium occurs when quantity supplied is equal to quantity demanded. quantity supplied does not equal quantity demanded. supply coordinates with price. supply coordinates with quantity.
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The graph shows excess supply. A graph titled Excess supply has quantity on the x-axis and price on the y-axis. A line with positive slope represents supply and a line with negative slope represents demand. The lines int...
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Equilibrium is defined when supply is limited and demand decreases. supply and demand meet. demand is higher than supply. supply is higher than demand. Mark this and return
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This graph shows a supply curve. A graph titled Supply Curve has Quantity Supplied on the x-axis, from 0 to 50 in increments of 10, and price on the y-axis, from 0 to 15 dollars in increments of 5 dollars. A line is draw...
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When a company produces goods for sale, those goods must be created in ways that meet consumer demand. designed in ways that are highly creative. priced lower than the goods sold by another company. created in quantities...
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Read this scenario and answer the question that follows it. Sample scenario: A factory produces blue and green widgets, both at equal production costs. In one day, the factory can make 20 widgets of either color. The fac...
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