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Alina [70]
3 years ago
15

According to the substitution effect, a decrease in the price of a product leads to an increase in the quantity of the product d

emanded because buyers:
Business
1 answer:
umka21 [38]3 years ago
3 0
The correct answer is <span>purchase more of the now relatively less expensive good.
When a product is discounted, obviously more people will be willing to buy it then when the price was higher. If more people want to buy a product, then the demand for that product rises, and then the production of those goods is also higher.
</span>
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Company A makes canned tomatoes. The plant operates around the clock and has a long conveyor belt to take the
Dima020 [189]

<u>Answer:</u>

bulk

<u>Explanation:</u>

The Tomatoes are produced in a bulk and the canned products are sent out in batches but the process of moving tomatoes from receiving through packaging and processing is done on a conveyor belt which is a continuous process.

Therefore, the production of tomatoes in a bulk is a continuous process which goes on around the clock on a conveyor belt and the final products are sent out in batches which have their own unique identity number.

4 0
3 years ago
A thief steals an ATM card and must randomly guess the correct three​-digit pin code from a 9​-key keypad. Repetition of digits
Dennis_Churaev [7]

Answer:

The thief has a 0.11% probability of hitting the pin code on the first try.

Explanation:

Simply, if the ATM card has a 3-digit code that can be repeated, and the board has 9 numbers (for example, from 1 to 9), we must start from the smallest number that could be formed with these numbers to the highest number that these numbers could also compose, which in the case would be 111 and 999. Then, 889 different numbers could be formed (it is the distance between 111 and 999), with which the possibility of hitting the key to the first attempt would be 1 in 889 times, or 1/889.

To take the probability to a percentage, we must know that 889 / 8.89 gives 100. Therefore, dividing 1 / 8.89 we will know the percentage of probabilities of hitting the key on the first attempt: 1 / 8.89 = 0.11.

This shows us that the thief has a 0.11% probability of hitting the key on the first try.

7 0
3 years ago
The price elasticity of demand if the price of a pint falls from $8 to $6 is
melamori03 [73]
It means to say that the demand of the product is decreasing.  The relationship between the price and demand is one way. It means to say that if the price increases, the demand is higher. In this scenario, the price increases to avoid shortage on the product. If the price is decreasing, it means to say that the demand is decreasing and can possibly cause surplus on the said product. Lowering the price allows consumers to have higher purchasing power and enticing them to purchase such product.
6 0
3 years ago
The manager of a small post office is concerned that the growing township is overloading the one-window service being offered. S
Rashid [163]

Answer:

1) 2 minutes

2) 7 minutes

3) Zero ( 0 )  minutes

4) yes

5) zero ( 0 ) minutes

Explanation:

1) Time required to serve

= 2 minutes

2) The operator will begin processing the fourth customer at 7 minutes

3) The fifth customer will wait in line for zero ( 0 ) minutes

4) Yes the sixth customer will get served right away

5) The average waiting time for the 6 simulated customers is Zero ( 0 )

Attached below is the simulation of the six arrivals

7 0
3 years ago
Alcohol is most effective when used as a __________ solution. 25% 60% 70% 95% 100%
Marta_Voda [28]
Alcohol is most effective when used as a 70% solution.
8 0
3 years ago
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