1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
ryzh [129]
2 years ago
12

Imagine you take a shopping trip to a flea market, and you are looking for an old record player. You know the typical antique re

cord player is very expensive. When you arrive, you notice several vending booths all selling antique record players. When you look at the price, you realize it is half the cost you expected! The fact that the cost of this product is so low surprises you at first, until you remember the law of supply and demand. Describe how supply and demand plays into the price of the record player.
Business
1 answer:
Sergeu [11.5K]2 years ago
8 0

The best explanation of how the principle of demand and supply has affected the price of the record player is:

  • Because there are several vending booths in the same area selling the same item, there would be a reduction in price to attract more customers.

<h3>What is Demand?</h3>

This refers to the quantity of goods which are requested by consumers at a particular time period which has an effect in the price of the good.

With this in mind, the principle of demand and supply was in effect as in the flea market, there was a reduction in price of an old record player because there was a lot of the goods in a location.

Read more about demand and supply here:
brainly.com/question/4804206

You might be interested in
Tài liệu về NVL X tại 1 DN tính và nộp thuế GTGT theo phương pháp khấu trừ tháng 03/N
hram777 [196]

Answer::!;!,!’cldldkfnbbfndkdfkf

Explanation:

Fbxnbdndndnxnxfnnfncdk

8 0
3 years ago
Marvin Gaye's song "Gotta Give It Up" was protected by ___________ .
monitta

Answer:

d. not selected option d copyright

6 0
3 years ago
Read 2 more answers
A(n) _____ system is a computer-based information system that produces standardized reports in summarized structured form to sup
liraira [26]

Answer:

The management information system(MIS)

6 0
2 years ago
Eunice buys a worm farm. She plans to sell a small carton of worms to people who want to fish for $3. Her fixed costs are $1,201
Evgesh-ka [11]

Answer:

C. 534  units

Explanation:

The formula to compute the break-even point is shown below:

= (Fixed cost) ÷ (Contribution margin per unit)  

where,  

Contribution margin per unit = Selling price per unit - Variable expense per unit  

= $3 - $0.75

= $2.25

So, the break-even point would be

= $1,201 ÷ $2.25 per unit

= 534 units

Simply we divide the fixed cost by the contribution margin per unit so that the accurate units can come.

3 0
3 years ago
Miguel, a recent​ 22-year old college​ graduate, wants to retire a millionaire. How much will he need to set aside annually to a
olga55 [171]

Answer

Miguel must set aside $62,745 annually

Explanation

N = Number of years till Miguel would retire = 43 years

FV = Future Value = $1,000,000

r = Interest rate = 10%

PMT = Annual payments (at the ending of the year) = ?? The question asks us to calculate this

We would use the future value ordinary annuity formula to calculate PMT

FV = PMT [\frac{(1+r )^{N} -1}{r} ]

1000000 = PMT [\frac{(1+0.10 )^{10} -1}{0.10} ]

PMT ≅ $62,745

Miguel must set aside $62,745 annually

3 0
3 years ago
Other questions:
  • Which of the following is a difference between customized services and standardized services?
    6·1 answer
  • When will the Social Security fund dry up at its current level?
    11·1 answer
  • Why does a diverse and inclusive workforce benefit a firm supporting a global market?
    15·1 answer
  • 19. Who among the following is not covered under the Occupational Safety and Health Act of 1970?
    5·1 answer
  • Which of the following is not a likely reason that specific password requirements, such as length, the use of special characters
    9·1 answer
  • A boss tells her employee, "If you don't get me those figures in the next five minutes, you're fired!" This is an example of whi
    13·1 answer
  • A Bank loaned out $12,000, part of it at the rate of 8% per year and the rest at the the rate of 18% per year. If the interest r
    8·1 answer
  • Sheridan Incorporated factored $158,900 of accounts receivable with Engram Factors Inc. on a with recourse basis. Engram assesse
    10·1 answer
  • At carbon fine inc., a maker of premium art pencils, the human resource department is evaluating its pay structure. a compensati
    9·1 answer
  • Alicia and Kwame are conducting customer surveys to gather information for a report. This is an example of ______ research.
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!