Suppose there are only three people in the economy: jane, harry, and bob. the individual demand for corn for each of these consu
mers is given in exhibit 3-1. the total quantity demanded of corn if the market price is $5 is ____.
1 answer:
Answer:
$25
Explanation:
Please check the attached image for a diagram of exhibit 3-1
The total quantity demanded can be found by adding the sum of the quantity demanded at $5.
Jane doesn't demand at $5, so her quantity demanded is 0
For Henry it is 8
For Bob, it is 17
Total quantity demanded ia 25
I hope my answer helps you
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Answer:
correct option is c. 8.5%
Explanation:
given data
salary increased = 50 percent
time = 5 year
solution
if present value is 1 than future value will be
Future Value FV = present value × .............1
here r is rate and t is time
Future Value FV = 1 ×
Future Value FV = 1.5
so
= 1.5
solve we get Rate of increase
Rate of increase r = 0.8447
and
Percentage increase will be
Percentage increase = 0.8447 ×100
Percentage increase = 8.5%
so correct option is c. 8.5%