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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

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Answer:

The correct answer is option A.

Explanation:

The price elasticity of demand is the measurement of responsiveness of demand for a commodity to change in its price level.

The price elasticity is derived by the ratio of change in quantity to change in price.

If the change in the quantity demanded of the commodity is greater than the change in its price, in that case the price elasticity of demand will be greater than 1 in absolute value.

4 0
4 years ago
During the Great Depression there were a number of federal programs which brought electricity to people in rural areas of the Mi
Ivan

Answer: option A: More competition for jobs in those areas are witnessed when federal programs provided more electricity in rural areas of the Midwest and South.

Explanation:

In the time of the Great Depression, President Roosevelt has passed the Rural Electrification Act (REA) in 1935 as part of the New Deal execution amendment. Through the beneficial act of supplied quantity of electricity units, the rural areas of the Midwest and South got the fine chance to expand the production of goods and services which covered the expenses of the cost of production.

Agriculture is the primary occupation of those areas, the electricity supply helped them to produce more agricultural products and also it supported Agro-based industries. The installation process are initiated and all farmers got loan advances by the cooperative societies.

6 0
3 years ago
What is the net present value of a project that has an initial cash outflow of $7,670 and cash inflows of $1,280 in year 1, $6,9
goldfiish [28.3K]
<span>Net present value is the present value of future cash inflows discounted at the expected rate of return minus the initial investment.
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Cash inflow during Year 1 = $1280
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Cash inflow during Year 4 = $2750

Discount rate = 12.5%

NPV = (1280/1.125^1)+(0)+(6980/1.125^3)+(2750/1.125^4)-7670
NPV = (1280/1.125)+0+(6980/1.424)+(2750/1.6)-7670
NPV = 1137.778+0+4902.277+1716.811-7670
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Answer:

Sanders Sporting Goods Company

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A management response system will show that Sanders is not liable for the sexual harassment of this former employee.  Sanders must have done what is required before the case gets out of its hand by ensuring that the co-worker and everyone else fully appreciates the company's policy on the issue. For example, it can publish its policy regularly to enable everyone to be on the same page.

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Answer:

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