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bekas [8.4K]
3 years ago
10

Sabrina decided to start selling lemonade on her street. The other kids in the neighborhood noticed that Sabrina was making a lo

t of money selling lemonade. These kids decided to open their own lemonade stand. When they opened their own lemonade stand, the equilibrium price ________ and the equilibrium quantity ________.
A. decreased; decreased
B. decreased; increased
C. increased; increased
D. stayed the same; stayed the same
E. increased; decreased
Business
1 answer:
nikklg [1K]3 years ago
4 0

Answer:

The correct answer is (b)

Explanation:

The kids opened their own lemonade stand which led to an increase in the overall supply of lemonade. The increase in the overall supply of lemonade will lead to a decrease in the equilibrium price. Now, Sabrina must decrease the price of lemonade to compete with competitors. Increase in market competition always leads to a decrease in equilibrium price.

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C

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Which of the following is not a fee that contributes to the initial cost of leasing a car? a. First payment b. Final payment c.
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The final payment is <u><em>not </em></u>a fee that contributes to the original cost of leasing an automobile, option B is the correct answer.

<h3 /><h3>How is leasing charged?</h3>

The first payment is, predictably, the same as one month's rent.

A lender or lessor will impose an acquisition fee to offset the costs of establishing a loan or lease agreement.

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2 years ago
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At a specific point on the demand curve for backpacks, the elasticity of demand is calculated to be -0.5.a. At that point, we wo
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Answer:

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Explanation:

Price elasticity of demand is always negative for normal goods. This happens because of the law of demand, that demand falls with rise in price.

Price elasticity between 0 and 1 shows inelastic demand.

This means that there is smaller change in demand due to a greater change in price level.

Price elasticity of demand is -0.5.

If the price falls by 10%, demand will increase by 5%.

The revenue will fall, because of greater fall in price.

If the price increases by 20%, demand will fall by 10%.

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4 0
3 years ago
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Remeasurement loss, which arises from conversions of the various currencies used by the company to a functional currency, goes to the Income statement and is subtracted from the Net income.

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(b) Yes. It is also an opportunity cost because if a person wants to join a new job then he have to give up his current job. So, the earning of $45,000 from his current job is the opportunity cost of accepting the new job.

(c) No. It is not an opportunity cost but it is an additional benefit from the new job because he is not sacrificing anything to obtain this benefit.

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