Thomas Is a Diabetic

question 28

Essay

Thomas is a diabetic. While at work, he began to tremble, was somewhat disoriented, and showed signs similar to that of a drunk. One of his colleagues gave him some hard candy, which seemed to help him return to normal functions. Why? Was this a proper action, considering that Thomas is diabetic?

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Definitions:

Short Run

A period in economics during which at least one factor of production is fixed and cannot be changed.

Short Run Supply Curve

A graphical representation showing the quantity of goods or services that producers are willing and able to sell at different prices over a short period, assuming some production factors are fixed.

Marginal Cost Curve

A graphical representation showing how the cost to produce one additional unit changes as more units are produced.

Profits

The financial gain realized when the revenue earned from business activities exceeds the expenses, costs, and taxes needed to sustain those activities.