<u>Question 1</u>
The correct answer is: "FALSE".
The total revenue earned by a firm is computed using the formula:
R= price * quantity
According to the formula, if the term "price" increases, R would increase too. But an increase in price usually decreases the amount demanded by consumers of a certain product. Therefore, if quantity demanded drops in a higher proportion than the increase in price, the final total revenue would decrease. So the final effect depends on the size of the two variations.
<u>Question 2</u>
<u>The determinants of demand are the following:</u>
- Price: inversely related to the quantity demanded, as the larger the price the smaller the amount demanded of a product.
- Income of consumers: directly related. The larger the income earned by an economic agent, the larger the amount demanded of a normal good (there are exceptions, such as inferior goods, for which income and demand are inversely related).
- Prices of related goods of services. If two goods are substitutes, the increase on the price of one, decreases the amount demanded of that product but increases the amount demanded of the other product. It two goods are complements, the increase in the price of one good decreases the amount demanded of it, and the amount demanded of the other product too.
- Tastes or preferences of consumers. If a product is in line with the general preferences of consumers the amount demanded will be large.
- Market expectations. For example, if a price is expected to rise, consumers might prefer to buy now and therefore demand increases at the moment.
Answer:
“Nothing in the world is as soft and weak as water, and yet in attacking what is hard and strong, there is nothing that can surpass it.
Explanation:
Answer:
although communism can and has been seen in totalitarian governments , communism is not based on identity with a supposed 'superior,' race,or with extreme nationalism.
Answer:
a mnemonic
Explanation:
Brian is trying to remember the colors of the visible spectrum: red, orange, yellow, green, blue, indigo, and violet. Brian decides to use the acronym ROYGBIV, which contains the first letter of each of the colors' names. Brian is using <u>a mnemonic</u> to remember the colors. A nmemonic is any structured pattern or idea which could be visual or verbal that helps individuals to easy remember things. This patterns include the use of acronyms, rhymes, peg-word methods and even chunking.
It violates amendment 8 since he was given a life sentence, a cruel punishment, and fined 10,000 dollars for a small crime