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Umnica [9.8K]
3 years ago
11

"Because apples and oranges are substitutes, an increase in the price of or¬anges will cause the demand for apples to increase.

This initial shift in demand for apples results in a higher price for apples; this higher price will cause the demand curve for apples to shift to the right." Which of the follow¬ing correctly comments on this statement?a. The statement is false because a change in the price of apples would not change the demand for apples.b. The statement is false because one cannot assume that apples and oranges are substitutes for all consumers.c. The statement will be true, if consumer tastes for apples and oranges do not change.d. The statement is false because oranges are inferior goods; apples are normal goods.
Business
1 answer:
irinina [24]3 years ago
7 0

Answer:

The correct answer is option a.

Explanation:

Apples and oranges are substitutes. An increase in the price of oranges will cause the demand for apples to increase. This is because people will prefer a cheaper substitute. This increase in the demand for apples will cause its demand curve to shift to the right.

The rightward shift in the demand curve will cause the equilibrium price to increase. But this change in price will not cause a change in demand. The change in price affects only the quantity demanded. Change in demand happens because of a change in other factors.

So, the given statement is not correct.

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Social responsibility of business implies that corporate managers must promote the interests of all stakeholders not merely of shareholders who happen to be the so called owners of the business enterprises.

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4 0
3 years ago
Travis takes two trips to Ecuador. On his first trip, he finds that one US dollar is worth 25000 Ecuadorian Sucre. On his return
Agata [3.3K]

Answer:

More Americans will travel to Ecuador.

Explanation:

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On his first trip,

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This indicates that the US dollar appreciated against the Ecuadorian Sucre. Now, the residents of United States will have to pay less for going on a trip to Ecuador. Hence, there is an increase in the number of Americans going for a trip to Ecuador.

6 0
4 years ago
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Which of the following terms means that people want more things than they can easily acquire? Select one of the options below as
Flauer [41]
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3 years ago
It is important to _____ the victim before calling 911
Serggg [28]
Check.
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Movie Makers is a legal entity whose assets and liabilities are separate from its owners. It can receive, own, and transfer prop
Kryger [21]

Answer:

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Explanation:

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In this business entity, they have the right to received, owned or even transferred the property who are entered into contracts with the other legal entities or with the individuals

In addition, this business entity is to be sued and sued to the individual or other business entities depending upon which entity or individual it is dealing with in the court.

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