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xz_007 [3.2K]
3 years ago
6

Which of the following statements about the consumers’ responses to rising gasoline prices is correct?a. Because gasoline is a n

ecessity, consumers do not decrease their quantity demanded in either the short run or the long run.b. Consumers react to a 10% increase in price with about a 10% decrease in quantity demanded in both the short run and long run.c. Consumers decrease their quantity demanded more in the short run than in the long run.d. Consumers decrease their quantity demanded more in the long run than in the short run.
Business
1 answer:
s2008m [1.1K]3 years ago
7 0

Answer:

Option (d) is correct.

Explanation:

Gasoline is a normal good for the consumers. So, if there is an increase in the price of gasoline then as a quantity demanded for gasoline decreases.

Also, quantity demanded for gasoline decreases more in long run than in the short run, this is due to the elasticity of the demand curve. As we know that demand curve for gasoline is more elastic in the long run as compared to the short run.

If the demand curve is more elastic then a little change in the price of a commodity or a good tends to large change in the quantity demanded for that good.

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If farmer sam macdoanld can produce 200 pounds of cabbages and 0 pounds of patotes or 0 pound of cabbes and 100 pounds of potato
amid [387]
C is your best answer!! goodluck
5 0
3 years ago
Martin, a u.s. citizen, travels to mexico and buys a newly manufactured motorcycle made there. his purchase is included in?
Alinara [238K]

Martin, a US. citizen travels to Mexico and buys a newly manufactured motorcycle made there. his purchase is included in both Mexican GDP and U.S. GDP.

This is further explained below.

<h3>What is GDP?</h3>

Generally, The gross domestic product (GDP) of a nation is a monetary measurement that is based on the market value of all of the final products and services that are produced in that nation during a certain time period.

Before being regarded as a trustworthy indication, this measure often undergoes revision because of the complexity and subjectivity inherent in its design.

In conclusion, Martin, a resident of the United States, makes a trip to Mexico in order to purchase a motorbike that was only just produced in that country. His purchase is accounted for in both the GDP of Mexico and the GDP of the United States.

Read more about GDP

brainly.com/question/15682765

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6 0
1 year ago
The law of supply and demand asserts that
Anna35 [415]

Answer:

b. the price of a good will eventually rise in response to an excess demand for that good.

Explanation:

As more people are willing to purchase the good the price will rise. Because, the supplier can offer up to certain amount given their current production factors thus, this increase in demand is met with an increase of price. In the future this increase in price which generates more producer surplus will make more company’s invest in the business or the current ones will develop new ways of production to produce more and therefore; lowering the price.

6 0
3 years ago
A $10,000 face value treasury bond is quoted at a price of 102.311 with a current yield of 4.28 percent. what is the coupon rate
nataly862011 [7]

The coupon rate is 4.37 %.

Explanation:

The current yield formula can be used to determine the coupon payment which would thereafter be used to compute coupon rate as required:

current yield = coupon payment/current market price

current yield=4.28%

coupon payment=unknown

current market price=102.311 % *$10,000

current market price=$102.311

4.28%=coupon payment /$ 102.311

coupon payment=$10231.1*4.28%

coupon payment=$437.89108

coupon rate=coupon payment/face value

coupon rate=$437.89108 /$10,000

coupon rate=4.37%

To know more about coupon rate visit :

brainly.com/question/16913107

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7 0
2 years ago
No having enough money for the shoes you want means?
Mazyrski [523]

Answer:

That you can't get the shoes that you want because you don't have enough money or go to work to get some more money for your shoes that you want

8 0
2 years ago
Read 2 more answers
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