A theory asserts that consumers will purchase less of a good at higher prices than they will at lower prices.

Business

1 answer:

FrozenT [24]3 years ago

4 0

Answer:

b. It is likely that variables other than the price and quantity of cars demanded were

changing.

Explanation:

The law of demand states that the higher the price of a good, the lower the quantity demanded and the lower the price of a good, the higher the quantity demanded.

If price of cars was increasing and the quantity demanded also was increasing, it indicates other variables were changing. For example, if income was increasing at the time, the demand for cars would increase if cars are normal goods.

I hope my answer helps you

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Joe is a single, self-employed individual who owns his own business. During 2019, Joe reported $200,000 gross income and $60,000

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Answer:

Adjusted Gross Income =$ 102,000

Explanation:

Gross Income $ 200,000

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In the game of economics, producers get information they need to determine how much people are willing to pay for a good or serv

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Answer:

The correct answer would be option D, Consumers.

In the game of economics, producers get information they need to determine how much people are willing to pay for a good or service from Consumers.

Explanation:

In the game of economics, consumers are the ones who will consume the products produced by the companies/producers, and they are the ones who will determine how much they are wiling to pay for a good or service.

For example, if a product's price is set at 5 dollars but no one is willing to pay 5 dollars for that product, then producers have to lower the prices to meet the customers' demands, and to sell their products.

So in this way, customers determine the prices of the products.

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4 years ago

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If there is a great demand for a product, the production for that product will

sweet [91]

production for that product will increase.

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3 years ago