Answer:
The correct answer is option a.
Explanation:
Camille's Creations and Julia's Jewels are both selling beads in a competitive market. The market price of beads is $5 for both.
At this price level, they can't keep up with the quantity demanded. This implies that the quantity they are supplying is lower than what is being demanded.
We know that there's a positive relationship with the price level and the quantity supplied of a firm. So to increase the quantity supplied, the firm will increase its price. It will then reach the point of equilibrium where quantity supplied and quantity demanded are equal.
The answer is (C) Helps point to a set of actions that should occur
Answer:
$135.52
Explanation:
Calculation for How much would it cost to buy a similar amount of goods and services in 2016
Using this formula
Cost to buy similar amount of goods and services in 2016=Amount in 2001x (Price level 2016/Price level 2001)
Let plug in the formula
Cost to buy similar amount of goods and services in 2016=$100*(240.0/177.1)
Cost to buy similar amount of goods and services in 2016=$100*1.3552
Cost to buy similar amount of goods and services in 2016=$135.52
Therefore How much would it cost to buy a similar amount of goods and services in 2016 is $135.52
