1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
murzikaleks [220]
3 years ago
10

For the following statement, move the endpoints of the demand curve to create the demand relationship that is described. "I spen

d more on orange juice even as the price rises". (Does this mean that I must be violating the law of demand)?
Business
1 answer:
Akimi4 [234]3 years ago
3 0

Answer:

Explanation:

"I spend more on orange juice even as the price rises".

This implies that orange juice is not an inferior good because people demand less of an inferior product when their prices fall. In this case more is demanded as price rises implying that orange juice is being viewed as a luxury good or healthy drink. Consumers tend to interpret certain price increase positively and view the goods as superior.

Does this mean that I must be violating the law of demand?

YES

Generally, the law of demand states that, "citeris paribus  (with all things being equal), as the price of a good rises, quantity demanded falls; conversely, as the price of a good falls, quantity demanded increases".

Therefore if "I spend more on orange juice even as the price rises", then obviously the law of demand is being violated

You might be interested in
The coupon rate is the rate of interest that the issuer of the bond must pay. (II) The coupon rate is usually fixed for the dura
lyudmila [28]

Answer:

TRUE

Explanation:

The coupon rate for a bond is fixed and is paid by the issuer of the bond to the bondholder. The cash outlay/inflow to the issuer/bondholder is always the same reardless of the market rate.

The effect of the market rate is on the cost to acquire the bond in the secondary market. It do not change the coupon obligation.

3 0
3 years ago
Producer surplus equals a. Value to buyers - Costs of sellers. b. Amount received by sellers - Costs of sellers. c. Value to buy
aev [14]

Answer:

Amount received by sellers - Costs of sellers. 

Explanation:

Producer surplus is the difference between the price of a good and the cost to sellers. It is the difference between price and the least amount sellers would be willing to sell their products.

Consumer surplus is the difference between the price at which the consumer values the good and the price of the good.

Consumer surplus = Value to buyers - Amount paid by buyers.

I hope my answer helps you

5 0
3 years ago
A higher marginal income tax rate reduces incentives to work because
svetoff [14.1K]
<span>An increase in the marginal income tax rate is likely to decrease the quantity of labor supplied. because the increase in the tax automatically reduces the profit of the firm. the management will always try to compensate their loss by taking necessary reforms or measures. the first and simplest method to reduce the loss is to cut down the expense by reducing the labour involved.</span>
7 0
3 years ago
Which of the following statements refers to rent seeking? "There is an opportunity cost whenever the federal government spends t
puteri [66]

<u>Answer:</u>

<u><em>Laws passed by the federal government often provide benefits for a small number of individuals. These individuals, in turn, have an incentive to contribute to the campaigns of politicians who pass these laws</em></u>

<u>Explanation</u>:

When individuals or firms cunningly try to get benefits from government at the detriment of others it term rent seeking.

Implying they seek shelter under this laws that benefit them the most.

For example, certain tax laws may favor the weather citizens of a country and they (the wealthier citizens) may take advantage of that.

3 0
3 years ago
Read 2 more answers
How many points do you have? I have 1787.
son4ous [18]

Answer:

16650+

have a good day :))))))))))))))))

Explanation:

6 0
2 years ago
Read 2 more answers
Other questions:
  • Consider the market for socks. The current price of a pair of plain white socks is $5.00. Two consumers, Jeff and Samir, are wil
    13·1 answer
  • During 2017 the inflation rate increased slightly but remained in the​ "comfort zone" and the unemployment rate was low. Why mig
    9·1 answer
  • Based on the graph below, if January and February are the two coldest months, what can you conclude about the selling of French
    12·2 answers
  • So im 12 yrs old and i have been asked to babysit my neighbors two boys for 4 hours 5 days a week ( one 4 one 2 yrs old) since i
    15·1 answer
  • The following data has been collected about Keller Company's stockholders' equity accounts: Common stock $10 par value 20,000 sh
    11·1 answer
  • Emil Corp. produces and sells wind-energy-driven engines. To finance its operations, Emil Corp. issued $15,000,000 of 20-year, 9
    12·1 answer
  • Great Subs Inc., a regional sandwich chain, is considering purchasing a smaller chain, Eastern Pizza, which is currently finance
    9·1 answer
  • Jerry Jay is the CEO of Jerry's Jackets (JJ). In June, Jerry expects to produce and sell 3200 jackets, and he expects his June u
    13·1 answer
  • Dye Trucking raised $240 million in new debt and used this to buy back stock. After the recap, Dye's stock price is $7. If Dye h
    5·1 answer
  • Chance to win 50 points
    11·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!