Answer:
A. 125 Egyptian pounds
Explanation:
Let’s create a proportion using the following setup.
pounds/dollars=pounds/dollars
We know that 5 Egyptian pounds is equal to 1 dollar.
5 pounds/ 1 dollar= pounds/dollars
We don’t know how many pounds are in 25 dollars. We can say x pounds are in 25 dollars.
5 pounds / 1 dollar = x pounds/ 25 dollars
5/1=x/25
We want to find out what x is, so we need to get x by itself.
x is being divided by 25. The inverse of division is multiplication. Multiply both sides of the equation by 25.
25*(5/1)=(x/25)*25
25*5/1=x
25*5=x
125=x
$25 US dollars are equal to 125 Egyptian pounds. Therefore, the watch will cost 125 Egyptian pounds and choice A is correct.
Answer:
B) The law of demand
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.
Opportunity cost is the cost of the next best option forgone when one alternative is chosen over other alternatives.
Ceteris paribus means all things being equal.
Says law says supply creates its own demand.
I hope my answer helps you
<span>Price transparency. This best describes the amount of truth or transparency about something. Complete information doesn't necessary represent somebody's understanding of something, but rather describes if all parts of said information were present to seen, heard, felt..etc.</span>
The rest of it will be: price equals marginal cost. But this indeed is not true. The most accepted idea is that for a monopolistically competitive firm the average revenue and price are the same quantity. Now, when a monopolistically competitive firm is in long-run equilibrium, then the marginal revenue is equal to marginal cost.
