Matthew can recover nothing because he was able to sell the land to someone else. Matthew has already sold his land as the part of his real estate to another person for $31,000 and Mathew could not recover anything from the first contract because Betty could not pay for the real estate price<span>. Although he has lost $4,000, he will not have any problem with the first contract with Betty.</span>
Answer:
The correct answer is (D)
Explanation:
Company's normally at the end of every year give sale offers to their customers to increase their sales revenues and clear the remaining inventory. Sales usually attract buyers because of the new sale price of commodities. Joseph wanted to buy one tire but instead, he took advantage of a sale deal. The decision to take the deal is based on the new sale price of the tires.
To find how much one costs, you divide the price by five
18.75 divided by 5 = 3.75
To find how much seven would cost, you multiply that number by seven
3.75 times 7= $26.25
Answer:
b. the market price is below equilibrium
Explanation:
Markets are at Equilibrium, where market demand = market supply. Market Demand is downward sloping due to price - demand inverse relationship as per law of demand. And, Market Supply is upward sloping due to price - supply direct relationship as per law of supply
When Price is below Equilibrium price : Market demand is more, as it is inversely related with price. And, Market supply is less, as it is directly related with price. So Market Supply is more than Market Supply. This implies Scarcity (Market Shortage), when supply is insufficient to fulfil demand.
This excess demand (or shortage/ scarcity) creates competition among buyers & pushes up the market price.This way; finally, the market price & market quantity resume back to equilibrium level.
