Which statement best summarizes the law of demand ?

Economists believe that people's wants are:

Cloud [144]

Economists believe that the wants of people are infinite.

<h3>What is want in economics?</h3>

These are the basic needs of people. In the field of economics it is believed that the wants of people are too numerous.

People have so many needs and the resources that are required to fulfill them are limited. This is the concept of scarcity.

Read more on want and scarcity here:

https://brainly.in/question/2337492

#SPJ12

3 0

2 years ago

Two 1000 dollar face value bonds are both redeemable at par, with the first having a redemption date 3 years prior to the redemp

finlep [7]

Answer:

$ 915.71

Explanation:

In order to determine the second bond price we need to determine the number of years to maturity of the first bond using nper formula in excel.

=nper(rate,pmt.-pv,fv)

rate is the semiannual interest rate of 6% (12%*6/12)

pmt is the semiannual interest=$1000*8.3%*6/12=$41.50

pv is the current price at $813.04

fv is the face value of $1000

=nper(6%,41.50,-813.04,1000)= 16.00

The years to maturity=16/2=8 years

The years to maturity of second bond=8+3=11 years

price of second bond=-pv(rate,nper,pmt,fv)

rate is 6%

nper is 11 years multiplied by 2= 22

pmt =5.3%*$1000=$53

fv is $1000

=-pv(6%,22,53,1000)=$915.71

5 0

3 years ago

Read 2 more answers

When a supplier is restricted to operating during certain hours, which in turn limits its quantity supplied, the elasticity of s

enyata [817]

Answer:

C. less than 1

Explanation:

Supply is elastic if producers can increase output without a rise in cost or a time delay which means Price elasticity of supply is more than 1.

Supply is inelastic if producers find it hard to change production in a given time period which means Price elasticity of supply is less than 1.

When Price elasticity of supply equals 0 then supply is perfectly inelastic.

4 0

2 years ago

Juan found a supplier that costs 20% less than all other suppliers who provide the same quality this is an example of

grigory [225]

Answer:

hello the answer is A

Explanation:

hope this helps:))))

5 0

3 years ago

Lillypad Toys is a manufacturer of educational toys for children. Six months ago, the company's research and development divisio

lakkis [162]

Answer:

True

Explanation:

Lilypad Toys should be vary of the imitators. Since they introduced a new technology in the market, it is bound to be copied by other manufacturers who will try to sell it in the same market for cheaper rates.

Lilypad Toys should come up with a patent for their technology to earn profit off of this technology and also save themselves from the raging competition from the imitating companies.

I hope the answer was helpful.

Thanks for asking.

4 0

2 years ago