Explanation:
In the case of the complements goods, if the price of the soda rises, the demand would be decreased and the supply would rises. Since the soda and pizza are complementary goods so the impact of one good would be the same for another good also
Moreover, we also know that the price and the demand has an inverse relationship but the price and the supply has a direct relationship
Answer:
2. Interest income will drop by less than $3 million for a sudden 1% drop in market interest rates
Explanation:
Since in the question it is mentioned that there is decrease in 2021 interest income of $3 million in the case when there is a sudden decline of 1% in the rate of interest of the market this is due to the convexity of the curve as the GAP analysis and assume straight line
So the option 2 is correct
Answer:
Hi
When a curve moves, the price and the amount of equilibrium change. An increase in demand causes an increase in both price and the amount of balance. A decrease in demand causes a decrease in both the price and the amount of equilibrium.
In the real world, it is easier to predict changes in supply than changes in demand. Physical factors that affect supply, such as weather or the availability of inputs, are easier to control than changes in restrictions that affect demand. Taking into account supply and demand, we can also better anticipate the effects of shifts in the supply curve. An excess of demand causes an increase in the price and a decrease in the quantity demanded, when the supply of a good or a reduced service, the equilibrium price of that good or service increases and the quantity of controlled equilibrium. In summary, an increase in the supply of a good causes a decrease in the price and an increase in the amount of equilibrium. A decrease in supply causes an increase in price and a decrease in the amount of balance.
Explanation:
Answer:
$110,000
Explanation:
Profit = Total revenue - Total cost
Total revenue = $2,750,000
Total cost = cost of purchase + interest + wages + taxes
= $1,800,000+$200,000+ 550,000 + 90,000 = $2,640,000
Profit = $2,750,000 - $2,640,000 = $110,000
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