The answer depends on a crucial information that it is not provided, the purchasing power of those potential customers, but it still it is possible to reason how the demand and supply of membership would work.
- Surplus of memberships would take place when in the gym market there is a shortage of demand. This situation occurs when there are less customers willing to purchase the product at 45$ than the number of memberships that are available. To claim if this is the case in the example we would need to know the structure of the demand function in this market.
- Shortage of memberships takes place when in the gym market there is a excess of demand. The price is afforded by a number of customers which exceeds the amount of memberships available. Therefore, some rationing mechanism would be necessary to fix who will get the membership and who will not. Again, it would be necessary to know who the demand function works.
The saving account will have 575.125 USD after 2 years.
Explanation:
Usually, when people want to save money in a bank, they get a particular compound interest rate. This is of benefit for both sides, as the bank has the money at disposal and uses them, while the saver gets certain amount of money because of it. The interest rates can vary greatly, and in this case we have 7.5%, which is a very large interest rate in modern times.
If the saver has 500 USD at the beginning, and leaves the money in the bank for two years, he/she will get solid amount of compound interest for it. In order to get to the result we simply need to add 7.5% of the amount to it, and for the next year to add 7.5% on the amount that has accumulated from the previous year:
(500/100)x7.5 = 537.5
(537.5/100)x7.5 = 575.125
We get a result of 575.125, meaning that the saver has managed to gain 75.125 in the two years that the 500 USD have been in the bank.
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Answer:
quipu
Explanation:
it is also called a knot-record
Hey!
There is not a lot of solid information on Osman I who established the Ottoman dynasty around 1300 CE. He was the hereditary leader of a small principality in Anatolia.
Answer:
The method of presenting history is different from that of other sciences. Even so , history uses the scientific method at every stage, namely, while looking for collecting evidence , examining the evidence and while putting it together. When required , help is also taken from other sciences. That is why , history is considered to be a scientific discipline.History is not written solely on the basis of imagination.
Explanation:
This is acurate answer.
