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How is it possible for a good to be both a capital good and a consumer good?
A service buys another service's goods and sells it to people.
What is the amount of a good or service that an individual or producer is offering for sale?
supply
A situation that occurs when a producer cannot offer a particular good or service at the current price?
shortage
What is the relationship between producer surplus and a monopoly graph?
In a monopoly graph, producer surplus is the difference between the price the producer receives for a good or service and the cost of producing it. In a monopoly, the producer has more control over pricing and can charge higher prices, leading to a larger producer surplus compared to a competitive market.
Why might a producer be willing to supply more of a good or service as the price he or she can charge increases?
Because his costs have gone up
How is it possible for a good to be both a capital good and a consumer good?
A service buys another service's goods and sells it to people.
How is possible for a good to be both a capital good and a consumer good?
A service buys another service's goods and sells it to people.
What is buyer mean?
A buyer is someone who is willing to purchase and has the potential to purchase a good or service. A buyer is a person who buys goods and products from another person.
What is the amount of a good or service that an individual or producer is offering for sale?
supply
What is the amount of a good or service that an individual or producer is offering for sale called?
supply
What is the amount of good or service that an individual or producer is offered for sale called?
supply
What is the definition of market research?
Research that gathers and analyzes information about the moving of good or services from producer to consumer. It is pretty much the movement of what the customer buys to the customer.
What does supply mean in social studies?
the amount of a good or service that a producer wants to sell
A situation that occurs when a producer cannot offer a particular good or service at the current price?
shortage
What is the relationship between producer surplus and a monopoly graph?
In a monopoly graph, producer surplus is the difference between the price the producer receives for a good or service and the cost of producing it. In a monopoly, the producer has more control over pricing and can charge higher prices, leading to a larger producer surplus compared to a competitive market.
Why might a producer be willing to supply more of a good or service as the price he or she can charge increases?
Because his costs have gone up
How do you calculate producer surplus and what factors are involved in determining it?
Producer surplus is calculated by subtracting the minimum price a producer is willing to accept for a good or service from the actual price they receive. Factors that determine producer surplus include the cost of production, market demand, and the level of competition in the market.
