If the number of demanders for electric cars increases at the same time as the number of suppliers of electric cars increases, w
hich of the following is true?
(A) The equilibrium quantity will increase.
(B) Both the demand and supply curves will shift to the left.
(C) The equilibrium quantity will decrease.
(D) The effect on the equilibrium quantity is ambiguous without more information.
(A) The equilibrium quantity will increase.
(B) Both the demand and supply curves will shift to the left.
(C) The equilibrium quantity will decrease.
(D) The effect on the equilibrium quantity is ambiguous without more information.
1 answer:
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The time taken to break even at buying 1 point will be in<u> 9 years</u>.
Given,
- Monthly mortgage payment =$958
- Monthly payment will be reduced to buy 1 point =$948.75
- Cost of each point =$1,000
Computation:
1. The computation of the reduced amount in the monthly mortgage payment:
2. The computation of yearly mortgage payment:
3. The computation of the number of years for the break-even by buying 1 point:
Therefore, to break even by buying 1 point the holder requires 9 years to reach.
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