The complete question with diagram is attached
Answer:
($3.00, 420 lbs) and ($2.10, 510 lbs)
Explanation:
A shift in demand occurs when the quantity of a product consumers wants changes at all price levels.
A shift to the right indicates an increase in quantity demanded at all prices, while a shift to the left indicates a reduction in quantity demanded at all prices.
In the given scenario there is a shift in demand to the right with increase in 20 lbs of onions.
So at every price level there will be an increase in quantity demanded by 20 lbs.
According to the diagram at price $3 quantity initially demanded was 400 lbs. With the demand shift it will now be 400 + 20 = 420 lbs.
At price $2.10 demand was initially 490 lbs now it will be 490 + 20 = 510 lbs
Procrastinating
Procrastination is the avoidance of doing a task which needs to be accomplished. It is the practice of doing more pleasurable things in place of less pleasurable ones, or carrying out less urgent tasks instead of more urgent ones, thus putting off impending tasks to a later time.
Business firms that sell to retailers and other merchants, and/or to industrial, institutional, and commercial users-but which do not sell in large amounts to final consumers-are called wholesalers. These are businesses that would purchase product in very large amounts and sells them to other businesses or the retailers at a lower price whose target customers are the consumers.
Answer:
242.65
Explanation:
Data provided in the question:
year 2011 2012 2013
Salary $65,000 $72,000 $76,000
Consumer Price Index 226 230 235
Real Interest Rate 2.5% 2.7% 1.8%
Nominal interest rate for 2013 = 7.3%
Now,
Rate of inflation for 2013 = Nominal rate - Real rate
= 7.3% - 1.8%
= 5.5%
Therefore,
CPI in 2013 = Consumer Price Index in 2012 × (1 + inflation )
= 230 × ( 1 + 0.055 )
= 242.65