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Inga [223]
3 years ago
11

Assume that eggs and cereals are substitute products for breakfast. If a disease kills a large number of chickens, what will hap

pen to the demand of cereal?
a. the demand for cereal will stay the same
b. the demand for cereal will shift to the right
c. the demand for cereal will shift to the left
d. the quantity demanded of cereal will increase
e. the quantity demanded of cereal will decrease
Business
1 answer:
larisa [96]3 years ago
6 0

Answer:

The correct answer is letter "D": the quantity demanded of cereal will increase.

Explanation:

According to the demand theory, as long as the quantity demanded increases, the price would decrease (the demand curve shifts to the right). The quantity demanded decreases when the price would increase (the demand curve shifts to the left).

In the example, as eggs and cereals are substitute products, if a disease kills a large number of chickens there will be fewer eggs supply in the market. Consumers will start looking for substitutes. Then, <em>the quantity demanded for cereal will increase</em> moving the <em>demand </em><u><em>curve</em></u><em> to the right</em>.

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A credit card company advertises an APR of 15.3%, compounded daily. What
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Answer:

B. 16.53%

Explanation:

The effective interest rate is the real interest rate charged by a bank or any other type of lender on a loan.

the formula to calculate effective interest rate = r = (1 + i/n)ⁿ - 1

  • i =15.3%
  • n = 365 days

r = [1 + (15.3%/365)³⁶⁵] -1 = 1.00419178³⁶⁵ - 1 = 1.165287621 - 1 = 0.165287621 ≈ 16.53%

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Liu Electronics budgeted sales of $400,000.00 for the month of November and cost of goods sold equal to 65 percent of sales. Beg
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Answer:

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Explanation:

Giving the following information:

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Cost of goods sold equal to 65 percent of sales.

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To calculate the purchase required, we need to use the following formula:

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Purchases= $252,000

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Answer:

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For example if a user contracts a computer virus it is a security event, because this means a security breach occured. Antivirus products are security software that reduces occurrence of security event.

4 0
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Answer:

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