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OLga [1]
3 years ago
9

Which of the following illustrates the law of demand? a. Jorge buys fewer pencils at $2 per pencil than at $1 per pencil, ceteri

s paribus. b. Chen buys more ice cream at $4 per half-gallon than at $3 per half gallon, ceteris paribus. c. Karissa buys fewer sweaters at $50 each than at $35 each, ceteris paribus. d. a, b, and c e. a and c

Business
1 answer:
iVinArrow [24]3 years ago
4 0

Answer:

e. a and c

Explanation:

The law of demand states that the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded. This occurs because of the law of diminishing marginal utility.

The law of diminishing marginal utility states that the more of a commodity is consumed, the lower the utility derived from the consumption of the product.

It follows that Jorge and karissa would demand less of pencils and sweaters as their prices rise.

The demand curve is usually downward sloping to illustrate the law of demand.

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Explanation:

Initial Price of the  used  book = $73.25

Discounted price = $68.00

Percentage change  in the book price = Initial Price - Discounted price/ Initial Price) x 100

($73.25 - $68.00) /$73.25 =5.25 /$73.25 =0.07167

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3 years ago
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they benefit from an expanded opportunity set.

Explanation:

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Hence, this would be the answer

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3 years ago
Imagine that you are a management coach and one of your clients, a new manager, says, "I’ve heard that about two thirds of manag
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Explanation:

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3 years ago
Which of the following occupations is NOT included in the skilled career pathway?
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Compute the future value of $2,000 compounded annually for 20 years at 6 percent. (Do not round intermediate calculations and ro
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Answer:

A) FV= 6414.27

B) FV=2000*(1.09^15)= 7284.97

Explanation:

Giving the following information:

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Compounded annually for 20 years at 6 percent.

n= 20

i=0.06

B) Present value= $2,000

Compounded annually for 15 years at 9 percent.

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7 0
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