Economics NOT Business According to the graph below, what condition would be created if the price was set higher than equilibrium, say at $4?

a. the market would be at equilibrium

b. a surplus would be created

c. a shortage would be created

d. there would be no change in consumer or producer activity

Afirm’s production function is represented by q(m,r) = 4m 3/4r1/3, where q denotes output, m raw materials, and r robots. the firm is currently using 6 units of raw materials and 12 robots. according to the mrts, in order to maintain its output level the firm would need to give up 2 robots if it adds 9 units of raw materials. (a) true (b) false

Brenda wants a new car that will be dependable transportation and look good. she wants to satisfy both functional and psychological needs. true or false

“strategy, plans, and budgets are unrelated to one another.” do you agree? explain. explain how the manager’s choice of the type of responsibility center (cost, revenue, profit, or investment) affects the behavior of other employees.