Answer:
Fall; lowers; falls; decrease; lower; increases; fall; away from orange juice and toward tomato juice; falls.
Explanation:
Ketchup is a complement and condiment in hot dogs. An increase in the price of hot dogs will cause its quantity demanded to fall. This will cause the demand for ketchup to decrease as well. The demand curve for ketchup will move to the left. This will cause the equilibrium quantity to fall. This will further cause a reduction in the demand for tomatoes by ketchup producers.
A decrease in demand will cause the equilibrium price of tomatoes to fall. A reduction in the price of tomatoes will lower the cost of producing tomato juice. The firms will be able to supply more at the same cost. This will cause the supply to increase. As the supply curve moves to the right, the equilibrium price of tomato juice will fall.
Orange juice is a substitute for tomato juice. The consumers will prefer the cheaper substitute. As a result, demand will move away from orange juice towards tomato juice. This will cause the demand for orange juice to fall.
Answer:
Paul's learning style is that of a <u>Assimilator(a)</u>
Explanation:
- The Assimilating learning style lays emphasis on concept and logic.
- The people with Assimilative learning style prefer to gather wide range of information and then they organize it in clear ,logical format.
- These people are attracted towards logical theories like analytical models.
Answer:
an act of breaking the terms set out in a contract.
The deadweight loss is $90.6.
<h3>How to calculate the loss?</h3>
The study suggested that the average recipient's valuation of the gift received was approximately 90% of the actual purchase price of the gift.
This means there's a loss of 10% in value constitute the deadweight loss.
Average amount spent on gift = $906
Percentage loss in value = 10% or 0.10
Calculate the deadweight loss -
= Average amount spent on gifts * Percentage loss in value
DWL = $906 * 0.10
The deadweight loss would be $90.6.
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A study by university of minnesota economist, joel waldfogel, estimated the difference in the actual monetary value of gifts received and how much the recipients would have been willing to pay to buy them on their own. the study suggested that the average recipient’s valuation was approximately 90% of the actual purchase price.
Calculate the deadweight loss if the average amount is $906.
