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
BaLLatris [955]
3 years ago
8

An increase in the price of a substitute good will cause the equilibrium price of its substitute to _______ and the equilibrium

quantity to _________.a. increase; increaseb. increase; decreasec. decrease; decreased. decrease; increase
Business
1 answer:
irinina [24]3 years ago
6 0

Answer:

(b). <u>Increase</u> ;<u> Decrease</u>

Explanation:

When the price of a substitute good rises, then it becomes more profitable for suppliers to shift to the other good. Therefore the supply of given good decreases, and the supply curve shifts leftward.

For example, if you're a textile manufacturer who produces cotton and silk clothes if the price of silk rises you'll reduce cotton production to divert resources towards silk. Therefore the demand for cotton clothes reduces.

Due to the leftward shift of the supply curve, the equilibrium price increases and equilibrium quantity decreases.

So we can conclude that an increase in the price of a substitute good will cause the equilibrium price of its substitute to <u>increase</u> and the equilibrium quantity to <u>decrease.</u>

Hence, the option (b) is the correct option.

You might be interested in
Coach valentine does not think that his team is playing up to its full potential. to increase the performance of the team, the c
matrenka [14]
Set specific, challenging, and reachable goals for the team. In addition, goal setting is the procedure of classifying to some degree that a team want to achieve and founding quantifiable goals and timeframes. When the team decide on a technique change to win the game in which this is an example of goal setting.
5 0
3 years ago
Derst Inc. sells a particular textbook for $140. Variable expenses are $25 per book. At the current volume of 6,000 books sold p
mamaluj [8]

Answer:

Option (B) is correct.

Explanation:

Given that,

Selling price of a product = $140 per textbook

Variable expenses = $25 per book

Books sold per year = 6,000 books (It is the break even point)

The break even point indicates that there is no profit or loss incurred at the sales.

This means that the sales revenue is equal to the total cost incurred to produced these goods.

Sales per unit - Variable cost per unit - Fixed costs per unit = 0

$140 - $25 - Fixed costs = 0

$115 = Fixed costs per unit

Therefore, the total amount of fixed cost is calculated as follows:

= Fixed cost per unit × Number of books sold

= $115 × 6,000

= $690,000

4 0
4 years ago
In Colorado one half of the property tax was paid at the end of February, by what date must the balance be paid to avoid a penal
o-na [289]

Answer:

June 15

Explanation:

State property taxes in Colorado can be paid in two ways:

  1. two half payments, the first half payment is due February 28, and the final half payment is due June 15.
  2. one single full payment due April 30.

If the total taxes are less than $25, only the single full payment option is available.

The rest of Colorado's state taxes are due April 15 (state sales tax and state income tax).

6 0
3 years ago
If Mimi and Elizabeth review information provided in customer comment cards to determine whether instructional quality has chang
professor190 [17]

Complete Question is as under:

The Maine Media Workshop is a hands-on, experiential workshop for individuals interested in film making and photography. The workshop program has grown significantly in recent years. The biggest challenge for managers of the program is getting instructors to commit. It is not uncommon for instructors to cancel their commitment hours before they are slated to teach.

If Mimi and Elizabeth review information provided in customer comment cards to determine whether instructional quality has changed since the decision was made to expand workshop offerings, which step of the decision-making process is involved?

A. Develop alternatives

B. Evaluate the alternatives

C. Following up and appraise results

D. Select the best alternative

Answer:

Option C. Following up and appraise results          

Explanation:

The reason is that the Mimi and Elizabeth are reviewing the comments of the customers which are the valuable asset of the company. The customer feedback highlights what is the deficiency in the services. So when the customer answers the questions regarding the list of questions, his each suggestion is basically assessed which is following up and appraisal process. At this stage you value the suggestions of the customers and try to solve that issues and by doing so you also bring value to the company.

Don't forget to rate the answer. Thanks

4 0
3 years ago
Omar has saved $1,100. Does he have enough to move into this apartment? Security Deposit $500 Application Fee $10 First Month’s
Mariana [72]
No, he would still need $177 to move into that apartment. The total was $1,277 but he only has $1,100.
7 0
3 years ago
Read 2 more answers
Other questions:
  • Merowak Missiles has developed its Democratizer Offensive Weapon System (DOWS) for the US military. After sinking $1 billion int
    15·1 answer
  • In april 2011, consolidated edison (ed) stock cost $50 per share and yielded 5% per year in dividends, while national grid (ngg)
    5·1 answer
  • Joe Jones has put in place a new set of performance metrics for the Logistics Department at his firm. He is convinced that these
    11·1 answer
  • To determine the quantity of any activity that will maximize total net benefit, economists employ the ________ rule.
    11·1 answer
  • The Federal Reserve sets the reserve requirement, which banks must meet through deposits at the Fed and cash held at the bank. W
    6·1 answer
  • Bell, a cash-basis calendar year taxpayer, died on June 1, Year 1, at the age of 80. Prior to her death, Bell incurred $2,000 in
    10·1 answer
  • Assuming technology and production techniques are fixed and cannot change, if beyond some point of production, a firm experience
    5·1 answer
  • Bob works as a forklift driver in a manufacturing plant. When he is at work, he is covered by workers compensation insurance. Hi
    15·1 answer
  • What was the name given to the first computer (machine) language?
    10·2 answers
  • For the current year temporary differences existed between the financial statement carrying amounts and the tax basis of the fol
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!