Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Business Economics Expert

Discussion on law of supply.

In an article on the steel industry, The Wall Street Journal noted that as steel prices were falling, steelmakers were not cutting production since "steelmakers can't afford to lose any sales as per their costs, especially their fixed costs, are so high." What does this statement mean? describe.

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M916055

Have any Question? 


Related Questions in Business Economics

Considering what you have learned about ldquocomparative

Considering what you have learned about “comparative advantage” and relative “marginal opportunity costs,” discuss the advantages and disadvantages to all involved parties (American workers, American consumers, foreign w ...

Determine your own market for a good and conduct your own

Determine your own market for a good and conduct your own analysis of a change in both the demand curve and the supply curve and report how the equilibrium price and quantity will change. Be sure to describe your good in ...

Lisa is a self-employed physical therapist who works from a

Lisa is a self-employed physical therapist who works from a rented space. Lisa charges $250 for a therapy session. She incurred the following costs last month: space and equipment rental, $1200; wages, $3500; materials, ...

Thrope inc purchased 1900 pounds of direct material at a

Thrope, Inc. purchased 1,900 pounds of direct material at a price of $1.30 per pound. The standard price of the material is $1.42 per pound. Thrope used 1,300 pounds in production while the standard pounds allowed for ac ...

Assume that gdp y is 6000 consumption c is given by the

Assume that GDP (Y) is 6,000. Consumption (C) is given by the equation C = 600 + 0.6(Y – T). Investment (I) is given by the equation I = 2,000 – 100r, where r is the real rate of interest in percent. Taxes (T) are 500 an ...

A lottery claims its grand prize is 10 million payable over

A lottery claims its grand prize is $10 million, payable over 5 years at $2,000,000 per year. If the first payment is made immediately, what is this grand prize really worth? Use an interest rate of 6%. Need to show form ...

Which of the following statements describes a change in the

Which of the following statements describes a change in the quantity supplied and which describes a change in supply?? I Farms are selling less chicken because the price of turkey has increased. II Farms are selling less ...

You are an assistant to a senator who chairs an ad hoc

You are an assistant to a senator who chairs an ad hoc committee on reforming taxes on telecommunication services. Based on your research, AT&T has spent over $15 million on related paperwork and compliance costs. Moreov ...

The following is an extract from an article in the irish

The following is an extract from an article in The Irish Times of Wednesday 6th July, 2016: CRH has established a commercial paper program in the United States, allowing it to issue up to $1bn of debt. The Dublin-based b ...

Explain and illustrate using a diagram why a monopolist

Explain and illustrate using a diagram why a monopolist would never produce in the inelastic range of the demand curve. (3 marks for explanation, 3 marks for diagram) In each of the following cases, state whether the mon ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate