All categories

2 years ago

Suppose pizzas and burgers are substitutes. if the price of pizza increases, what happens in each market?

1 answer:

8 0

If the price of pizza increases, Move upward and to the left along the demand curve for pizzas and the demand curve for burgers shifts to the right.

<h3>What is Demand curve?</h3>

A demand curve is a graph that shows the relationship between the cost of a given good and the amount that is desired at that cost. Demand curves can be applied to the price-quantity connection for either a specific consumer or for every consumer in a given market.

The relationship between the cost of an item or service and the quantity demanded over a specific time period is represented graphically by the demand curve. The price and quantity demanded are often represented with the price on the left vertical axis and the horizontal axis, respectively.

Pizzas and burgers exist as substitutes. This implies that they are utilized in place of each other. If the price of pizza increases, the quantity demanded will decrease. This will be characterized by an upward movement to the left on the same demand curve.

Consumers will prefer a more affordable substitute, and as a result, the demand for burgers will increase. This will be displayed by a rightward shift in the demand curve for burgers..

Hence, if the price of pizza increases, Move upward and to the left along the demand curve for pizzas and the demand curve for burgers shifts to the right.

To learn more about Demand curve refer to:

brainly.com/question/16790743

#SPJ4

You might be interested in

A company normally sells its product for $20 per unit. However, the selling price has fallen to $15 per unit. This company's cur

musickatia [10]

Answer:

correct option is d. $600

Explanation:

given data

sells product = $20 per unit

selling price fallen = $15 per unit

FIFO inventory = 200 units

purchased = $16 per units

Net realizable value fallen = $13 per unit

to find out

amount of the lower cost of market

solution

we know that here Company record inventory at lower

so market value or cost of the inventory at declined time

and here Market Adjustment is the Difference of the cost and the Market Value

so cost will be here

Cost = 200 × $16

cost = $3200

and

Net realizable value will be

Net realizable value = 200 × $13

Net realizable value = $2600

so that Market adjustment is the difference of

Market adjustment difference = $3200 - $2600

Market adjustment difference = $600

so correct option is d. $600

8 0

4 years ago

Sparkle Metallurgy, Inc. has two service departments (Human Resources and Building Maintenance) and two production departments (

user100 [1]

Answer:

B.40,000 square feet

Explanation:

Calculation to correctly denotes the number of square feet and employees over which the Building Maintenance cost and Human Resources cost would be allocated

Employees Human Resources 4,000

Machining 15,000

Assembly 21,000

Number of square feet 40,000

(4,000+15,000+21,000)

Therefore the number of square feet and employees over which the Building Maintenance cost and Human Resources cost would be allocated is 40,000

3 0

3 years ago

When __________ funds are set aside (idling the excess) and government does not spend the money nor apply it to past debt, this

finlep [7]

When surplus <span>funds are set aside (idling the excess) and the government does not spend the money nor apply it to past debt, this action does not cause expansion or contraction.
That statement is true. Expansion or contraction happens when the amount of Government budget is accumulated or decreased as the result of last year's operations</span>

7 0

3 years ago

Calculate Payroll An employee earns $44 per hour and 1.5 times that rate for all hours in excess of 40 hours per week. Assume th

Ket [755]

Answer:

The correct answer for option (a) is $3,080 and for option (b) is $2,141.

Explanation:

(a). Current pay = $44

After 40 hours, Pay = $44 × 1.5 = $66

So, we can calculate the gross pay by using following formula:

Gross pay = (40 hours × $44 ) + (20 hours × $66)

= $1,760 + $1,320

= $3,080

(b).

Security Tax = Gross pay × 6% = $3,080 × 6% = $184.8

Medicare Tax = Gross pay × 1.5% = $3,080 × 1.5% = $46.2

Federal Income Tax = $708

So, we can calculate the net pay by using following formula:

Net Pay = $3,080 - $184.8 - $46.2 - $708

= $2,141

3 0

3 years ago

A bakery sold apple pies for $11 and blueberry pies for $13. one saturday they sold a total of 38 pies and collected a total of

Nimfa-mama [501]

So first you know that if a is apple pies and b is blueberry that
$460=11a+13b in terms of price and you also know that the number
a+b=38
I solved that for either a or b (I chose a)
So
A=38-b
Them I plugged it in to the money equation to solve for b
460=11(38-b)+13b
460=418-11b+13b
460=418+2b
42=2b
B=21
Therefore you can do 38(total pies)-21(what b equals) to find the apple pies which would be 17 so a=17
Therefore the answer is B (17 apple and 21 blueberry)

5 0

3 years ago

Read 2 more answers