The appropriate response is a compulsion. A compulsion is a conduct intended to diminish psychic pain or distress because of components, for example, discouragement or nervousness. People participating in impulses regularly feel a powerful need to take part in the enthusiastic conduct. Ordinary practices, for example, hand-washing, imploring, and checking can progress toward becoming impulses.
Answer:
D) consume more of Good X or less of Good Y until the marginal utility per dollar for Good X and Good Y is equal.
Explanation:
Since Joanna's marginal utility per dollar is higher for good X than per good Y, then she must consume a combination of both goods until their marginal utility per dollar is equal.
Since marginal utility is diminishing, if she reduces her consumption of good Y, maybe it will increase and match X's. Or she can choose to consume more X until its marginal utility diminishes and matches Y's.
Answer:
a. Decrease
b. Decline
c. Exit
d. No change
Explanation:
The market for gourmet chocolate is in the long-run equilibrium, and an economic downturn has caused the consumer disposable income to fall. Chocolate is a normal good, and the chocolate producers have identical cost structures.
a. This decline in the consumer income will reduce the purchasing power of the consumers. As a result, the demand will decrease. The demand curve will move to the left.
b. This leftward shift in the demand curve will cause the price to decline, As the price falls, the profits earned by the producers will decline as well.
c. In the long run, the firms operate at zero economic profits. So a decline in profits imply that the firms are operating at an economic loss. This will cause the loss incurring firms to exit the market.
d. The long run supply curve will remain the same. It is not affected by change in profits, it changes only with change in the state of technology or availability of resources.
Answer: d. 30%
Explanation:
Global brands are companies that have achieved international success such that they are recognised in many other countries apart from their own and have many customers in other countries as well.
However, simply being known abroad does not classify a company as a global brand. The company must be generating sufficient revenue from their operations outside as a proportion of their total revenue their home country with sufficient meaning at least 30% of their revenue.
Answer:
Compensate for the risk
Explanation:
In the context of the scenario given , risk is defined as a form of exposure to a potential dangerous situation.
It is necessary for any person organization facing a risky situation to look for ways of minimizing or avoiding the risk in order to reduce related losses. Risks can be avoided through transfer , rejection , delayed action and compensating the risk,
The method of risk aversion described in the scenario is to compensate the risk.
Compensating the risk is a risk control method of using an alternative means to achieve a particular purpose in order to avoid the related risks to using the initial method.
