When your in your late 20s early 30s
Answer:
The correct answer is letter "A": both the value of a good to society and the cost to society of making the good.
Explanation:
Price is the monetary value of a good or service that consumers are willing to pay and producers are willing to accept. <em>For companies, it represents the production costs of the good plus the unitary revenue they expect to obtain. For consumers, it is the value they provide to the good offered according to the type of need the good is destined to fulfill.</em>
Answer:
A. The demand curve shifts to the left
Explanation:
Bread and butter are compliment goods. They offer the consumer a high utility when consumed together. An increase in demand for bread will increase the demand for butter. Changes in the price of bread will affect the demand for butter.
An increase in the price of bread leads to a decrease in demand. Reduction in bread demand means that butter consumption will decline as there will be less bread to apply butter. A decrease in demand will prompt the demand curve to shift inwards.
