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Damm [24]
2 years ago
13

The quantity demanded for office chairs has decreased due to an increase in price. how would this change in quantity demanded be

represented on the demand curve?
Business
1 answer:
garri49 [273]2 years ago
8 0

This change in quantity demanded is represented on the demand curve as a movement from one point on the curve to a lower point on the curve.

<h3>What is a demand curve?</h3>
  • A demand curve is an economics graph that depicts the connection between a commodity's price (the y-axis) and the volume of that commodity demanded at a certain price (the x-axis).
  • Demand curves can be used to model the price-quantity relationship for a single consumer (an individual demand curve) or for all consumers in a given market (a market demand curve) (a market demand curve).
  • Demand curves are generally assumed to slope downward (as given in the image below).
  • This is due to the law of demand, which states that when the price of good rises, the quantity demanded decreases.

The demand curve in the above-given situation:

  • A change in direction from one point on the curve to another.
  • A change in price causes an increase in quantity demanded, which is represented by a movement from one point on the curve to a lower point on the curve.

Therefore, this change in quantity demanded is represented on the demand curve as a movement from one point on the curve to a lower point on the curve.

Know more about a demand curve here:

brainly.com/question/1139186

#SPJ4

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A small private college situated in a rural geographic setting, a research lab at a bio-tech company and an attorney could all b
Gekata [30.6K]

Answer:

The correct answer to the following question is C) Appropriate audience for an advertising campaign.

Explanation:

When a company wants to sell its product in the market , it is very important for them to understand who their target market or target audience are, because these are the people who are in interested in buying company's product not everyone in the market. So it becomes very important for the company to identify who their target audience are and to make a connection with them, so that they can be influence in to buying the company's product.

And in the given above question all of them are example of target audiences.

7 0
2 years ago
Werth Company produces tie racks. The estimated fixed costs for the year are $288,000, and the estimated variable costs per unit
____ [38]

Answer:

Option (A) is correct.

Explanation:

Given that,

Estimated fixed cost = $288,000

Estimated variable cost = $14 per unit

Units expects to produce and sell = 60,000

Selling price = $20 per unit

We first need to calculate the contribution margin:

Contribution margin per unit:

= Selling price - Variable cost

= $20 - $14

= $6

The break even point in units is the ratio of fixed cost to the contribution margin per unit.

Break-even point in units:

= Fixed cost ÷ Contribution margin per unit

= $288,000 ÷ $6

= 48,000 units

8 0
2 years ago
What law organized a way to divide and sell the land in the northwest territory?
padilas [110]
The land ordinance of 1785 was the law that organized a way to divide and sell the land in the northwest territory.  This law was the Ordinance of 1784 which was the resolution written by Thomas Jefferson who aims at the congress in order to call for an action. The law wants to fathom the mode of locating and disposing the lands in western territories in order to be used in other purposes.
8 0
3 years ago
The price-elasticity of demand coefficient, Ed, is measured in terms of:_______
Kaylis [27]

Answer:

c. percentage change in price and percentage change in quantity demanded.

Explanation:

A price elasticity of demand can be defined as a measure of the responsiveness of the quantity of a product demanded with respect to a change in price of the product, all things being equal.

The price-elasticity of demand coefficient, Ed, is measured in terms of percentage change in price and percentage change in quantity demanded.

The demand for goods is said to be elastic, when the quantity of goods demanded by consumers with respect to change in price is very large. Thus, the more easily a consumer can switch to a substitute product in relation to change in price, the greater the elasticity of demand.

Generally, consumers would like to be buy a product as its price falls or become inexpensive.

For substitute products (goods), the price elasticity of demand is always positive because the demand of a product increases when the price of its close substitute (alternative) increases.

If the price elasticity of demand for a product equals 1, as its price rises the total revenue does not change because the demand is unit elastic.

7 0
3 years ago
Popular magazines and internet sources often use _____ to display information, which tends to confuse rather than clarify inform
zhuklara [117]
The appropriate response is pictorial graph. A pictograph utilizes picture images to pass on the importance of measurable data. Pictographs ought to be utilized painstakingly on the grounds that the diagrams may, either incidentally or intentionally, distort the information. This is the reason a diagram ought to be outwardly precise.
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