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amm1812
3 years ago
12

Which statement illustrates the law of demand?

Business
1 answer:
melamori03 [73]3 years ago
3 0

Answer:

Option (c) is correct.

Explanation:

Law of demand states that the price of the commodity and the quantity demanded of that commodity are negatively related to each other. This means that as the price of the commodity falls then as a result the quantity demanded for that commodity increases.

Therefore, the consumer will buy more sticks when the price of sticks falls from $2 to $1.

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Consumption Ratios; Activity Rates Saludable Company produces two types of get-well cards: scented and regular. Drivers for the
podryga [215]

Answer:

Consumption ratios for the four drivers in relation to both the cards will be consumption for a particular card/total consumption for both the cards which will be as follows :-

Total consumption for Inspection = 140 + 60

                                                        = 200

Total consumption for Setup = 60 + 20

                                                = 80

Total consumption for Machine = 180 + 650

                                                     = 830

Total consumption for Number of moves = 230 + 60

                                                                    = 290

Hence,

Consumption ratios for Inspection hours:

Scented Cards = \frac{140}{200}

                         = 0.7

Regular Cards = \frac{60}{200}

                         = 0.3

Consumption ratios for Setup hours:

Scented Cards = \frac{60}{80}

                         = 0.75

Regular Cards = \frac{20}{80}

                         = 0.25

Consumption ratios for Machine hours:

Scented Cards = \frac{180}{830}

                         = 0.22

Regular Cards = \frac{650}{830}

                         = 0.78

Consumption ratios for Number of moves:

Scented Cards = \frac{230}{290}

                         = 0.79

Regular Cards = \frac{60}{290}

                         = 0.21

6 0
3 years ago
James Smith has worked for Perfect Transmission Installers for eight years. His annual base salary is $52,000. For overtime hour
lesya692 [45]

Answer:

=$5,533.33

Explanation:

James took four weeks of paid leave. It means earned his salary but missed out on overtime earnings.

His hourly pay is $25; overtime pay will be $50 per hour

Monthly qualifying income is similar to average monthly income. The term is used mostly in credit assessments.

regular monthly income for James equal to yearly pay divide by 12 months

=$52,000/12

=4,333.333

Overpay income

6 hours per week x 4 weeks per month x $50 per hour

=6 x 4 x $50

=24 x $50

=$1200

Monthly qualifying income = 4,333.33 + 1200.00

=$5,533.33

3 0
3 years ago
If real output in an economy is 1,000 goods per year, the money supply is $300, and each dollar is spent an average of 4 times p
IceJOKER [234]

Answer:

D. 1.20.

Explanation:

300 dollars x 4 multiplier = 1,200 dollars in the economy.

There are 1,000 goods in the whole economy

1,200 dollar purchase 1,000 goods

on average: $1,200 / 1,000 units = $1.20/per unit

with 1.20 dollar you can purchase a single good

Notice: this means average is 1.20 dollars it do not implies all goods are worth 1.20 dollars

5 0
3 years ago
Two types of cars (Deluxe and Limited) were produced by a car manufacturer last year. Quantities sold, price per unit, and labor
kodGreya [7K]

Answer:

The labor productivity  for Deluxe and Limited cars are as follows:

          Units/Hour dollars

Deluxe Car  0.13   103.64  

Limited Car  0.21   156.54  

Explanation:

It is noteworthy that labor productivity in terms of units/hour does not put into consideration  quality of product, selling prices and skill level of the manufacturing workers. It would extremely  difficult for supervisors to find  out the workers that are better in terms of unit/hour.

Find attached spreadsheet with detailed calculation and formulas used.

Download xlsx
3 0
3 years ago
Scenario 34-2. The following facts apply to a small, imaginary economy.• Consumption spending is $6,720 when income is $8,000. •
KengaRu [80]

A stock-market boom stimulates consumer spending by $550, and there is a small operative crowding-out effect.

Option A

<u>Explanation: </u>

Increasing consumption, i.e. further consumer spending, will result in increased overall demand for goods and services. Therefore, if spending decreases, i.e. if interest rates decline, demand will increase with development in technologies and increase output. And demand is going to rise.  

The rate of interest is falling, resulting in a higher real balance for the economy. This boosts aggregate demand, which improves revenue and spending efficiency. Often, the demand curve will change left if the money supply declines.

Effect of increasing public spending, Increased government budgets are likely to increase total demand (AD).

8 0
4 years ago
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