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patriot [66]
2 years ago
11

Milk is used in the production of cheese. Cheese and tofu are close substitutes in consumption. Milk and oreos are complements i

n consumption. Suppose that the price of oreos increases, how does this affect the market of tofu
Business
1 answer:
disa [49]2 years ago
8 0

Milk is used in the production of cheese. Cheese and tofu are close substitutes in consumption. Milk and Oreos are complements in consumption. Suppose that the price of Oreos increases, how does this affect the market for tofu?

The correct answer is decreasing in price will increase the quantity demanded.

<h3>Why does price decrease when demand increases?</h3>

If demand does not change, there is an inverse relationship between the supply of goods and services and the price. As the supply of goods and services increases with the same demand, prices tend to fall to lower equilibrium prices and higher equilibrium quantities of goods and services.

The relationship between price and demand is negative. H. They are inversely proportional. The inverse relationship means that when the price of a product goes up, the demand for that product goes down, and vice versa. This is due to the law of reducing marginal utility.

Learn more about the price of oreos increases here

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True or false. the consumer sector is the largest part of the macroeconomy.
antiseptic1488 [7]
The consumer sector is the largest part of the macroeconomy

TRUE
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3 years ago
Delilah purchased a wheelchair with an installment loan that has an APR of 18 percent. The wheelchair sells for $2,007. The stor
alukav5142 [94]

Answer:

$748.48

Explanation:

Cost of wheelchair = $2,007

Down payment = Cost of wheelchair*20% = $2,007*20% = $401.40

Amount of finance = Cost of wheelchair - Down payment = $2,007 - $401.40 = $1,605.60

Interest rate = 18% * 1/12 = 1.5%per month

Term = 54 month

Monthly payment = Amount of finance*I/[1-(1+I)^-n]

Monthly payment =  $1,605.60*1.5%/[1-(1+1.5%)^-54]

Monthly payment = $1,605.60*1.5%/[1 - 0.447541]

Monthly payment = $1,605.60*0.015/0.55246

Monthly payment = $43.59411

Total amount paying for loan over a period = Monthly payment * Term = $43.59411 * 54 = $2354.08

Amount of finance charge = Total amount paying for loan - Amount of loan

Amount of finance charge = $2354.08 - $1,605.60

Amount of finance charge = $748.48

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3 years ago
What gender bias do you know of in media?
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If you are a girl the media expects you to be girly and like shopping and putting on makeup, some girls hate that stuff

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Detailed information about the financial statement elements is maintained in records commonly called?
sergij07 [2.7K]

Detailed information about the financial statement elements is maintained in records commonly called "Accounts'

An account in accounting is a general ledger entry that is used to categorize and record transactions. For example, businesses will have a Cash account where they may record each transaction that raises or reduces the amount of cash they have on hand.

Three different accounts exist.

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4 0
2 years ago
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