Answer:
When quantity supplied decreases by 7 apartments at each rent, the new supply and demand schedule is given below:
Monthly rent QD QS
400 30 9
450 25 11
500 20 13
550 15 15
600 10 17
So, the new equilibrium price is $550 and quantity is 15.
Answer:
The answer is: A) Wholesaling
Explanation:
Wholesaling is basically selling goods in bulk to smaller retailers, industrial or commercial companies, or other institutions that generally resell them in smaller quantities or as different processed goods. It is basically selling your product to anyone besides the final consumer.
In this example Dailies sells bread and vegetables to several restaurants, who later processes them into a different product (i.e. salad, sandwich) and sells them to their final customers.
Answer:
A) create greater efficiency in making goods available to target markets
Explanation:
While producers usually focus on getting raw materials at efficient cost and optimize the production process in a bid to stay profitable, intermediaries such as wholesalers and distributors are usually engaged to ensure that the products are properly distributed and available in the target market of consumers.
Intermediaries usually bring the goods from the producer to the consumer through the intermediaries distribution networks.
Answer: The mean income of the three people surveyed is $33,000.
The mean or average of a data set is nothing but the sum total of all the observations in a given set of data divided by the number of observations.
The formula for calculating the mean is:
where
is the mean or average
X₁ , X₂, X₃ .......Xn refers to the observations
N is the total number of observations
Substituting the values in the formula for mean we get,
