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Alja [10]
3 years ago
15

If congress increases the minimum wage to $7.25 per hour, what happens to the demand for consumer goods as a result?

Business
2 answers:
KIM [24]3 years ago
8 0

Demand for consumer goods INCREASES.

vaieri [72.5K]3 years ago
8 0

Answer:

Increases

Explanation:

direct proportion

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Chloe enjoys her math classes, and she would like to find a career that will allow her to continue to use her math skills. Which
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Accountant would be a good fit for her
3 0
3 years ago
Consider luxury weekend hotel packages in Las Vegas. When the price is $250, the quantity demanded is 2,000packages per week. Wh
konstantin123 [22]

Answer:

The elasticity is about 1.43, and an increase in the price will cause hotels' total revenue to decrease

Explanation:

The formula of the midpoint for the variation of the quantity is  \frac{Q2-Q1}{(Q2+Q1)/2} *100 and for the price is \frac{P2-P1}{(P2+P1)/2} *100. With the variation of the price and the quantity the elasticity formula is ΔQ/ΔP. Replacing the elasticity is -1.43

The price elasticity of the demand is bigger than 1, that means that the demand is elastic, every increase of the price will cause a bigger decrease of the quantity, the revenue will drop because the increase of the price do not compansete the decrease of the quantity.

6 0
3 years ago
. A building owner charges net rent of $20 in the first year, $21 in the second year, and $22 in the third year, but is providin
Anit [1.1K]

Answer: $17.28

Explanation:

6 month free concession in first year drops rent to:

= 20 / 2

= $10

Effective rent = [Present value of Year 1 rent + Present value of Year 2 rent + Present value of Year 3 rent ] / [ 1 - (1 / (1 + rate)^ number of years) / rate]

= [(10 / (1 + 10%) ) + (21 / (1 + 10%)²) + (22 / (1 + 10%)³)] * [1 - (1 / (1 + 10%)³/ 10%)]

= (9.09 + 17.355 + 16.5289) / 2.48685

= $17.28

8 0
2 years ago
Type the correct answer in the box. Spell all words correctly. What are the handheld devices that serve as personal information
asambeis [7]

Answer: Personal Digital Assistants

Explanation:

Personal Digital Assistants are a range of small handheld mobile devices that used to be very popular with working class people as they provide computing and storage uses which are very important in the business world for purposes such as keeping schedules and address books. They were like mini-computers that had small keyboards and sometimes a sensitive pad that could be written on.

Usually termed the 'first Smartphones', PDAs were immensely popular in the 90s and the early 2000s but have since been largely replaced by Smartphones which can perform all their duties and more.

4 0
3 years ago
The rate on T-bills is currently 5%. P. Tree Company stock has a beta of 1.69 and a required rate of return of 15.4%. According
Musya8 [376]

Answer:

11.15%

Explanation:

Given that

Risk free rate of return= 5%

Beta = 1.69

Expected rate of return = 15.4%

As per capital asset pricing model

Expected rate of return = Risk free rate of return + Beta × (Market rate of return - risk free rate of return)

15.4% = 5% + 1.69 × (Market rate of return - 5%)

After solving this

Market rate of return = 11.15%

8 0
3 years ago
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