The market for the pizza has a downward sloping demand curve which means that with the increase in the price of the pizza, the demand of the pizza will decrease but it's supply will increase.
<u>Explanation:</u>
Downward slanting demand curve implies a judicious purchaser will request to a greater degree a product when its price falls. A portion of the explanations behind. the marvel would be: Income Effect : When cost of an item falls, shopper's genuine salary rises that is he would now be able to buy a greater amount of the ware with a similar pay.
A decent with a cost far beneath what the market is eager to pay will show up toward the lower right – extremely low cost, exceptionally popularity. The costs in the middle of would then "fill in" the bend, inclining descending from the upper left to bring down right.
Answer:
Competition
Explanation:
In the capitalistic economy, COMPETITION ensures that a firm will survive only if it serves its customers well by providing products and services that meet their needs.
Hence, Competition is a favorable concept for business because it stimulates the improvement and growth of new and decent commodities in the markets.
To consumers, competition is good because it normally leads to better service and lower the costs or prices of commodities.
Answer:
7%
Explanation:
Interest income if Curtis invested
250,000 x 9% = 22,500
After tax interest income = 22,500 - (22,500 x 24%)
= 17,100
After tax rate of return = 17,100/250000
0.068
Approximately 7%
Yes, stores should be forced to obey minimum prices for a good or a company that is selling a service should as well. They should have to obey by this so that price competition isn't ongoing in the market. Larger producers can often charge a smaller amount for a product because they are producing them in high qualities. By charging less it gives them a competitive advantage over their competition in means of price. Unless the item is on clearance because a company is discontinuing stock of that item, they should have a set minimum as they do a set maximum they are allowed to charge for that item.
