For this case, what you should remember is the demand curve.
The vertical axis represents the price.
The horizontal axis represents the quantity.
In this curve we see that the quantity demanded decreases at a higher price.
The lower price the quantity demanded increases.
Answer:
<span> b. the income effect.
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<u>Translation of question : </u><u>In </u>Greek civilization meant high achievement in life, science, industry and the government system. Discuss this statement.
<u>Explanation:</u>
Civilization denotes the human society which lives in a particular culture, living conditions and the life. The society is not formed in a day it takes centuries to form a culture and way of living.
The achievements and developments one can see in elements such as life, science, industry and government system in a country is the civilization.
Each part of a community has different culture within a country. Civilization is a collective term for the way of living in a country. Some of oldest civilizations are Greek civilization, Mesopotamian civilization etc
Answer:
identifying pricing constraints.
Explanation:
From the question we are informed about George and Arthurine Renfro decided who decided to start a family business in 1990 and market chowchow, a southern regional food, they had to determine how they would price the chowchow by examining the demand for the product (would people rather eat home-made or store-bought), the cost of getting the jars for bottling the chowchow, and how much it would cost to distribute the product to area stores. In other words, in this case, the Renfros had to begin the development of their pricing strategy by identifying pricing constraints. .
Pricing constraints can be regarded as
factors which brings about limit of latitude of prices which a company may set.
Answer:
Ahmed must bake 48 Chocolate Decadence pies and 7 Mint Breezes pies in order to get the maximum possible profit = $131.91
Explanation:
let x = chocolate decadence
let y = mint breezes
maximize revenue equation = 2.56x + 1.29y
the constraints are:
7x + 8y ≤ 392
x ≥ 6
x ≤ 48
y ≥ 3
y ≤ 42
using solver, profits are maximized when 48x + 7y = $131.91
The ratio could increase with the purchase of $170,000 of inventory on account.
