The graph shows a point of equilibrium.

If the quantity supplied is greater than the quantity demanded, what must happen to the price in order to reach equilibrium?

A. The price of the product will increase to meet equilibrium.
B. The price of the product will decrease to meet equilibrium.
C. Supply and demand must be raised.
D. Supply and demand must be lowered.

Game theory is particularly necessary for understanding oligopoly, duopoly, and monopoly markets where the decisions of a few players significantly impact others. On the contrary, in perfectly competitive and monopolistically competitive markets, firms are price takers with no strategic interdependence.

Game theory is a significant tool for understanding situations in which decision-makers interact such as those in oligopoly, duopoly, and monopoly markets. In these markets, the decisions of few sellers have a direct impact on the decisions and outcomes of others. For instance, in oligopoly and duopoly, companies are always in strategic interdependence where the actions of one firm significantly influence and are influenced by the actions of the other firms.

Conversely, in perfectly competitive and monopolistically competitive markets, firms are price takers and don't consider the reactions of other firms, hence less application of game theory. For example, the firm in a pure monopoly market has complete control of the market and doesn't have any direct competition. Therefore, while game theory can help understand strategic situations in various market structures, its necessity is more pronounced in oligopoly, duopoly, and monopoly markets.

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To calculate the imports, we rearrange the GDP formula to Imports = Exports + (Consumption + Investment + Government spending) - GDP, and after inserting the given values, we determine that imports are $704 billion.

The question revolves around calculating the imports given the total Gross Domestic Product (GDP) and other components of the GDP calculation. We use the formula: Consumption + Investment + Government spending + (Exports
- Imports) = GDP. In this case, we are given that the GDP is $5,465 billion, consumption + investment + government spending is $5,496 billion, and exports are $673 billion. To solve for imports, we rearrange the equation to Imports = Exports
+ (Consumption + Investment + Government spending) - GDP. Inserting the given values, we get imports = $673 billion + $5,496 billion - $5,465 billion, which results in $704 billion as the value for imports.

The global economy provides American workers with an increased number of job opportunities, but it also poses the risk of job loss or wage reduction due to the potential for companies to outsource for cheaper labor.

The global economy offers both advantages and disadvantages to American workers. One major advantage is the broadening of job opportunities. Due to globalization, companies are able to operate internationally which opens up numerous new markets and job possibilities for workers. This can pave the way for American workers to have a more diverse and enriching work experience.

However, one significant disadvantage is the potential for job loss or wage reduction. With the global economy, companies often look for cheaper labor overseas, sometimes leading to the outsourcing of jobs. This can result in layoffs or wage decreases for American workers as companies attempt to cut costs.

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The primary target market differs from secondary and tertiary market with its small segment in the market place as both secondary and tertiary are larger segment than of the primary target market but what made it more different from them is because of its goal of having to sell.

Evan is violating the buisness' rules and policies

The answer is interval level of measurement. In this level of measurement, the distance or space between points does have significance. For instance, when we measure temperature (in Fahrenheit), the distance from 80-90 is similar as the distance from 100-110. Thus, the interval between values is interpretable.

From the table given with the question, it is clear that the best jobs that each person can have according to their level of qualifications are (C) Hallie is qualified to be a Video Game Designer, Oran is qualified to be a Dentist, and Wade is qualified to be a Carpet Installer.

A carpet installer can have a high school degree, thus a Bachelor’s degree would be too high of a qualification for the job. A person who works has a dentist would need additional qualifications beyond a Bachelor’s degree in order to open his or her dental practice. A bachelor’s degree would suffice for a video game designer.

I believe the answer is: A. Computer programming

Computer programming is the process of creating a set of instructions will be executed by computers after it's operated. This set of instructions are what commonly referred to as 'codes' and could be used to make an order for the computer to do a certain action.

Answer:

A. computer programming

Explanation:

The sum of consumer surplus and producer surplus when efficiency is attained is known as social surplus, which is maximized at market equilibrium where demand and supply intersect.

When efficiency is attained, the sum of the total amount of consumer surplus and producer surplus is known as the social surplus, also called the economic surplus or total surplus. This represents the net benefit to society from economic activities. Consumer surplus is the difference between what consumers are willing to pay and the market equilibrium price, while producer surplus is the difference between the market price and the minimum price at which producers would still sell.

At an efficient level of output, often found at the point where demand and supply intersect, it's impossible to increase consumer surplus without decreasing producer surplus, and vice versa. The total surplus at equilibrium is larger than at any other quantity or price, indicating maximum social welfare.

Deadweight loss refers to the loss in total surplus that happens when the economy operates at an inefficient quantity, deviating from the equilibrium point. Therefore, the absence of deadweight loss at equilibrium suggests that the economy is in its most efficient state.

Which needs to happen to the price indicated by p2 on the graph in order to achieve equilibrium? B. It needs to be decreased.

Equilibrium is the point at which supply and demand balance each other out. To make sure equilibrium is reached, there needs to be a decrease in the price so that the demand and supply match. If the price is too much, less people are likely to purchase the product however, would at a lower price.

In order for the price at P2 will be able to achieve equilibrium, B.  It needs to be decreased.

The equilibrium price is the point at which the Supply and Demand curves intersect.

That point is at P* which is below P2. In order for P2 to reach that point therefore, it needs to be decreased.

In conclusion, option B is correct.

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The physical property that may be able to provide a beneficiary for metal pots as a source of good cooking is its heat conductivity of which allow this material to be conducted to heat and allows the food to be cooked thoroughly making it good for cooking.

A physical property that makes metal pots good for cooking is that metals are excellent thermal conductors.  

Metals are good for cooking pots because they are excellent thermal conductors. This means that heat can easily travel through the metal, allowing the pot to heat up uniformly and cook food efficiently. Additionally, metals have a high melting point, which means they can withstand the high temperatures required during cooking without being damaged. This explains why cooking pots are metal, but their handles are often made from materials like plastic or wood, which are poor thermal conductors and prevent burns to the user's hands.

To determine the price range of houses the Johnsons should consider, we need to find the loan amount they can afford. This can be calculated using the monthly payments they can make and the interest rate. The price range will be the range between the maximum and minimum loan amounts.

The Johnsons have accumulated a nest egg of $50,000 that they intend to use as a down payment toward the purchase of a new house. To take advantage of the tax deduction, they want to invest a minimum of $2800/month, but their monthly payments should not exceed $3400 due to other financial obligations. Assuming a local mortgage rate of 5.5% compounded monthly for a conventional 30-year mortgage, we can calculate the price range of houses they should consider.

To determine the price range, we need to find the loan amount they can afford. The maximum loan amount is based on the monthly payments they can make and the interest rate. Let's say the loan amount is x. Using the formula to calculate the monthly payment of a mortgage, we can set up the following equation: x * 0.055/12 / (1 - (1 + 0.055/12)^(-30*12)) = $2800. Solving this equation will give us the maximum loan amount.

On the other hand, the monthly payment should not exceed $3400. Solving the same equation with a monthly payment of $3400 will give us the minimum loan amount.

The price range of houses they should consider will be the range between the maximum and minimum loan amounts.