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You and a Friend Are at the Hatching of Ducklings

question 218

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You and a friend are at the hatching of ducklings.The ducklings first notice you and are now trying to follow you.Your friend says,"Don't worry,they'll get over it." Is your friend right or wrong?


Definitions:

Equilibrium Price

The price at which the quantity of a good or service demanded by consumers equals the quantity supplied by producers.

Fine

A monetary penalty imposed by an authority on individuals or entities as punishment for violating laws or regulations.

Supply Curve

A graphical representation of the relationship between the price of a good and the quantity of the good that suppliers are willing and able to sell, usually upward-sloping.

Variable Costs

Costs that vary directly with the level of production output, such as raw materials and hourly labor expenses.

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