1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
harina [27]
3 years ago
14

1. Does an increase in price necessarily bring about higher total revenue? Explain. 2. Describe the different determinants of de

mand.
Social Studies
1 answer:
Marysya12 [62]3 years ago
6 0

<u>Question 1</u>

The correct answer is: "FALSE".

The total revenue earned by a firm is computed using the formula:

R= price * quantity

According to the formula, if the term "price" increases, R would increase too. But an increase in price usually decreases the amount demanded by consumers of a certain product. Therefore, if quantity demanded drops in a higher proportion than the increase in price, the final total revenue would decrease. So the final effect depends on the size of the two variations.

<u>Question 2</u>

<u>The determinants of demand are the following:</u>

  • Price: inversely related to the quantity demanded, as the larger the price the smaller the amount demanded of a product.
  • Income of consumers: directly related. The larger the income earned by an economic agent, the larger the amount demanded of a normal good (there are exceptions, such as inferior goods, for which income and demand are inversely related).
  • Prices of related goods of services. If two goods are substitutes, the increase on the price of one, decreases the amount demanded of that product but increases the amount demanded of the other product. It two goods are complements, the increase in the price of one good decreases the amount demanded of it, and the amount demanded of the other product too.
  • Tastes or preferences of consumers.  If a product is in line with the general preferences of consumers the amount demanded will be large.
  • Market expectations. For example, if a price is expected to rise, consumers might prefer to buy now and therefore demand increases at the moment.
You might be interested in
After the Second Continental Congress appointed George Washington as the commander in chief of the Continental army, he
blsea [12.9K]

Answer:

Option: Organized the American troops, ammunition, and supplies.

Explanation:

George Washington, the Commander-in-Chief of the Continental Army, played a vital role in organizing the American troops, ammunition, and supplies. During the war, American had little arms and ammunition.  George Washington found the soldiers hardly united, untrained and unequipped. The majority of the people volunteer to fight against the Britishers were farmers and artisans, therefore not trained to be soldiers. He had to attend to supplies, as he establishes a relationship with France. France played a prominent role in funding and supplying troops with clothing, gunpowder, cannons, and shoes. For maintaining disciplinary and preparations, he encouraged Friedrich von Steuben to train American soldiers.  

5 0
3 years ago
Read 2 more answers
What are the social economic aspect of hdi?<br>​
Marta_Voda [28]

Answer:

The Human Development Index (HDI) is a statistical measure (composite index) developed by the United Nations to assess the social and economic development. It of countries around the world. The HDI considers three indicators of human development, namely, life expectancy, education, and per capita income.

Explanation:

5 0
2 years ago
What is the main challenge that authors of routine messages have to overcome?
beks73 [17]
The correct answer is that readers <span>receive so many routine messages that it is hard to catch their attention.
The main challenge is to create an imaginative message which will stand out from the crowd of other similar messages and attract the readers' attention. It is important to draw their attention to your message if you want to promote it and them to be interested in what you have to say.
</span>
7 0
3 years ago
Explain precautions against earthquakes.
pochemuha

Answer:

Stay away from outer walls, windows, fireplaces, and hanging objects. If you are outside, go to an open area away from trees, telephone poles, and buildings, and stay there.

5 0
2 years ago
write down any two function performed by the caretaker government from under the chairmanship of subarna Shamsher in Nepal​
Irina-Kira [14]

Answer:

[][][][][][][][][][][][][][]

8 0
2 years ago
Other questions:
  • What effect does Earth’s gravitational force have on objects of different masses?
    5·1 answer
  • 3 Sentences Please
    8·1 answer
  • "every student in this room is affected by the pollutants hidden in these walls" stated in a speech introduction is
    15·2 answers
  • Anne fadiman studied the hmong immigrant population in the united states. her work suggests that one of the biggest challenges f
    12·1 answer
  • Rex, a 9-year-old boy, gets too scared whenever leaves his parents and goes to school. Rex's mother has to leave work as and whe
    8·1 answer
  • . Which of the following is a U.S. Department of Agriculture (USDA) agency?
    10·2 answers
  • The strengths and weaknesses of quantitative and qualitative research: what method for nursing?
    7·1 answer
  • Hich US region is the most important for agriculture and mining? A. the Rocky Mountains B. the Coastal Plains C. the Great Basin
    10·1 answer
  • Fanny's photoreceptors detect light and dark stimuli. Cortical processing then allows her to recognize the words in her psycholo
    11·1 answer
  • Who was the most kindest king??​
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!