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cluponka [151]
2 years ago
12

In economics, the demand for a good refers to the amount of the good that people:_______

Business
1 answer:
Mariulka [41]2 years ago
8 0

In economics, the quantity of an item that consumers will purchase at various price points is referred to as the demand for the good.

Demand for anything or service means that people want to buy it and are willing and able to pay for it. Demand for a product is influenced by its price, the pricing of competing products, the consumer's income, as well as her preferences and tastes. We defined demand as the amount of something that a buyer is willing and able to acquire at each price. This implies that there are at least two more factors besides price that influence demand. A Veblen product is one for which demand rises in proportion to price. Veblen products are often of a high caliber, expertly produced, unique, and status symbol. The majority of Veblen customers are wealthy individuals who value utility over all other factors.

Learn more about demand:

brainly.com/question/13320101

#SPJ4

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morpeh [17]

Answer:

false, these two can be related

Explanation:

false

7 0
3 years ago
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Choose the statement that is correct. A. The MC curve intersects the AFC​, AVC​, and ATC curves at their minimums. B. Initially
shepuryov [24]

Answer: C. The ATC curve eventually slopes upward because average variable cost eventually increases

Explanation:

The Law of Diminishing Marginal Returns causes the Average Total Cost curve to eventually slope upwards because the Average Variable Cost will increase.

Why?

At first, with production increasing, a firm will be very efficient at producing a certain good thereby driving the cost down per unit. As time goes on however, the law of Diminishing Marginal Returns comes into play as more is invested into the business. The cost per unit will therefore rise which will lead to the ATC curve going upwards.

I have included a simple graph to illustrate.

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3 0
3 years ago
Research shows that ____ is the number one reason cited for why organizations invest in information technology projects.
timofeeve [1]

Answer:

D

Explanation:

3 0
2 years ago
Once Miracle learned of the competing printer and adjusted the expected future cash flows from its original​ patent, was this as
Darya [45]

Answer:

(a) Entry for purchase of patent :

Patent a/c debit $600,000.

To Cash / Bank A/c. $600,000.

(b) Amortisation : (legal protection for 20 years) >> 600,000/20 = 30,000 per annum

Amortisation expenses -Patents $30,000

To Patents account $30,000

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To Patents account 270,000

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7 0
3 years ago
#14 Diagnosis reference numbers are entered on the CMS-1500 claim to:
elena-14-01-66 [18.8K]

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analyse quality of service provided .

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Option C

8 0
2 years ago
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