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kykrilka [37]
1 year ago
8

The law of supply states that other things remaining the same, a decrease in the price of kayak leads to?

Business
1 answer:
Sedaia [141]1 year ago
3 0

The law of supply states that other things remain the same, a decrease in the price of kayaks leads to a reduction in the number of kayaks provided.

<h3>What are the laws of supply?</h3>

The law of supply is a microeconomic principle that asserts, with all other things being equal, that if the cost of an item or service rises, suppliers will offer more of those goods or services and vice versa. In terms of economics, supply refers to the number of items that a person or firm offers to the market, which is equivalent to the total amount that they produce at one particular time. For instance, if Apple produces 100 iPhones, then this is the quantity that is sold. Supply and demand were defined by Adam Smith, who is frequently referred to as the Father of Economics, as an "invisible hand" that spontaneously steers the economy.

To learn more about the law of supply, visit:

brainly.com/question/17805586

#SPJ4

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Answer: The parliament is likely to allocate £ 1,23,93,800.62

We arrive at the answer as follows:

Amount allocated by President Obama    $100,000,000

Amount England wants to contribute        20% of President Obama's allocation

Amount England wants to contribute in USD  =

                                              0.2 * 100,000,000 = USD 2,00,00,000  

Exchange Rate                                      $1. 61371/1 pound sterling

We can read the problem as if $1.61371 is equal to 1 pound sterling, how many pound sterlings are equal to $2,00,00,000?

Let number of pound sterlings be x

So, \frac{1.61371}{1}= \frac{100000000}{x}

x = \frac{100000000}{1.61731}

x = 1,23,93,800.62


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A landlord will usually check your credit report before renting an apartment to you.
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