A friend comes up to you and offers you a free ticket to a professional baseball game that night. You decide to attend the game.
2 answers:
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The minimum sales required by Jennifer to meet her savings goal must be $26.25 per hour or $2100 for September.
Given that,
Savings desired = $1500
Monthly expenses = $600
Let money earned by her every hour be
No. of scheduled work hours
So,
Total money earned for the month
×
As we know,
Money left = Total money earned - expenses
-
...(i)
A.T.Q.
Money left must be = $1500
Then, by putting the variables in equation (i), we get
Now, solving for
_______________
∵
Thus, the required sales are $ per hour or (
×
= $2100) for the month of September.
Learn more about 'savings' here:
Answer:
the sum of all prices that the individual buyers are willing and able to pay for each possible quantity of the good.
Explanation:
Market demand refers to the sum of the individual demand for a commodity from all buyers in a given market.
A market demand curve is therefore a graph that shows the the sum of the individual demand for a commodity from all buyers in the market.
Therefore, the correction option is "the sum of all prices that the individual buyers are willing and able to pay for each possible quantity of the good".
Note that the market demand curve is a downward sloping curve due to the fact that there is a negative relationship between price and quantity demanded. That is, as price increases, the quantity demanded decreases. On the other hand, as price decreases, the quantity demanded increases.
Also note that an example of a market demand curve is given in the attached graph. From the graph, it can be seen that when price is , quantity demanded is
. But when price falls to
, quantity demanded increased to
. This shows the negative relationship between price and quantity demanded as explained above.
