ECONOMICS
SUPPLY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The production of complement goods (making charge cables for cell phones)
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How much similar goods are being sold for in a market
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Either A or B
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None of the above
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Detailed explanation-1: -On the other side, output price refers to the price of the finished products produced by the firm; thus, it is the price of the product after the processing. Another difference is that the input cost affects the firm’s expenses, and the output affects the firm’s revenue.
Detailed explanation-2: -The price of related goods is one of the other factors affecting demand. a. Related goods are classified as either substitutes or complements. 1. Substitutes are goods that satisfy a similar need or desire.
Detailed explanation-3: -The sales prices for a product or product mix are the same for all levels of output (sales) over time. The sales value is therefore a linear function of the sales prices and the quantity sold.
Detailed explanation-4: -Market output consists of all products disposed of on the market or intended for disposal on the market, either through sale or barter.