4. If the demand for milk is downward sloping, then an increase in the price of milk will result in a(n) a. increase in the dema
nd for milk. b. decrease in the demand for milk. c. increase in the quantity of milk demanded. d. decrease in the quantity of milk demanded.
1 answer:
Answer:
d. decrease in the quantity of milk demanded.
Explanation:
The law of demand states that there is an inverse relationship between price and quantity demanded. An increase in price will result in a decrease in price and vice versa.
So in this case an increase in the price of milk will result in a decrease in quantity of milk demanded.
This is illustrated in the attached diagram.
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Answer:
6.05 years
Explanation:
Payback period is the time in which a project returns back the initial investment in the form of net cash flow. For this purpose we use the net cash flows to calculate the payback.
Payback working is attached with this answer please find it.
