A market consists of ten similar suppliers that are making the same supply decisions. To find the market supply of these ten suppliers, you:  SELECT THE CORRECT ANSWER  a.find the average quantity produced by the ten suppliers. b.take one-tenth of the individual supply of each supplier and add it up. c.take the individual supply of one supplier. d.multiply the individual supply of one of the suppliers by ten.

Mililani business owner Selina runs a small hair salon and does laundry on a regular basis to clean uniforms, hair cloths, client robes, and other washables. Selina is running low on detergent and saw the same-sized boxes of Arm & Hammer laundry detergent on sale at two different stores. Sale price of detergent Regular price of detergent Store Store 1 Store 2 $9.98, limit 4, with additional boxes at regular price Buy two get one free, limit 1 free box, with additional boxes at regular price If Selina only has time to go to one of these stores and needs 3 boxes, whose advice is correct? Select the cost of 3 boxes of Arm & Hammer Laundry detergent at Select $15.99 Selina's friend Kimo said that Store 2 would be cheaper and noted that Store 1's regular price is cheaper than Store 2's regular price. Selina's other friend Lani said that it would be cheaper to go to Store 1, pointing out that Store 2's sale price is still higher than Store 1. Would the situation change if Selina needs 5…

Consider the supplier of a product that is an inferior good. For instance, an aluminum supplier for a canned goods producer. During a recession during which average incomes fall, which of the following best describes what would happen to the profit-maximizing price of the supplier? a. The supplier’s profit-maximizing price would decrease due to an increase in demand. b. The supplier’s profit-maximizing price would increase due to an increase in demand. c. The supplier’s profit-maximizing price would decrease due to a reduction in demand. d. The supplier’s profit-maximizing price would increase due to a reduction in demand.

How do companies make long-run pricing decisions?

How do apple growers react to the news of medical research findings that suggest that eating apples leads to greater health benefits than were previously known?     They increase the supply of apples.     They increase the quantity of apples supplied.     They decrease the supply of apples.     They decrease the quantity of apples supplied.

Give explanation of correct options and explanation of incorrect options don't upload any graph.

Question 6   At the price of $5 per pack of batteries, Duracell sells 10,000 packs of batteries and Energizer sells 15,000 packs of batteries. When the price rises to $7.50, Duracell sells 12,000 packs of batteries and Energizer sells 16,000 packs of batteries. What is the market supply at a price of $7.50?   12,000   16,000   4,000   28,000   25,000       Question 7   Social welfare (i.e. the sum of producer and consumer surplus) is maximized when   the government taxes most goods and services.   very few consumers and producers exist within a market   the market reaches its equilibrium price and quantity.   supply and demand are perfectly inelastic.   the government imposes price controls.       Question 8   When demand is perfectly elastic, the demand curve is   vertical.   upward-sloping.   U-shaped.…

Microeconomics

Price elasticity of demand is more likely to be greater than one if: A. consumers have a long time to adjust to a price change. B. the product is a necessity. C. demand is inelastic. D. there are few close substitutes for the product. E. total revenue declines in response to a price reduction.