Please refer to the graph to answer the question. When there was an excess supply of shoes, there was also a(n) _____ of shoes.
In a market without price controls, the market will adjust until it reaches the _____.
a. shortage
b. highest price equilibrium
c. equilibrium price surplus
d. equilibrium price
a. shortage
b. highest price equilibrium
c. equilibrium price surplus
d. equilibrium price
2 answers:
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Answer:
After the discount, the customer will pay only 91.4% of the initial price.
Step-by-step explanation:
We have that the price of the current retailer, in dollars, is:
3.50
After the discount, the new price, in dollars, is:
3.20
We want to know what percentage of the original price is the final price.
To find out, we must divide the final price between the initial price and then multiply the result by 100%
So:
*100% = 0.914. * 100% = 91.4%
After the discount, the customer will pay only 91.4% of the initial price.
The discount percentage you are going to pay is 100% -91.4% = 8.6% of the initial price