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Alex Ar [27]
3 years ago
12

Certain economic principles are of considerable importance in the valuation of real estate. The principle that "no buyer will pa

y more for a product than the price he can pay for a reasonable duplicate" is known as the principle of:
Business
1 answer:
Svet_ta [14]3 years ago
5 0

Answer:

Substitution

Explanation:

Principle of subsitution states that no consumer should buy a product for a high price of he can get an alternative (duplicate) that is of a cheaper price.

Substitutes are alternatives that provide similar satisfaction to the customer.

When the price of one product goes up the customer has a choice of going for an alternative.

For example honey and sugar are substitutes. When the price of one goes down people will go for the cheaper alternative. This acts as a price control mechanism.

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A nation has a workforce of 500 workers. In every month, 10 workers leave jobs, and 10 different workers tind jobs However, ther
sp2606 [1]

Answer:

<u>Cyclical unemployment</u> is 0% as the unemployment is in equilibrium, so it is no recession or boom.

<u>Structural unemployment</u><u> </u>is 20/500=4% There workers are not able to find jobs which is possible with their skill sets, thus it is part of structural unemployment,

<u>Frictional unemployment</u> is 10/500=2% as there is a time lag in finding the job they want and this is due to that.

8 0
4 years ago
Read 2 more answers
Smith Company manufactures washing machines in their own facility. They sell them to stores like Best Buy and Lowes for ultimate
amm1812

Answer:

The total product cost is $98,230

Explanation:

The product cost is that cost which is related to the manufacturing of a product

The computation of the total product cost is shown below:

= Direct labor + Metal to make the exterior shell of the washing machines + Electricity to run the machinery in the factory + Salary of the manager who oversees the manufacturing

= $20,906 + $50,181 + $18,939 + $8,204

= $98,230

So, this cost which are considered in the computation part is product cost and the rest cost are ignored.

3 0
4 years ago
What are dividends?
BaLLatris [955]
The correct answer is C. A distribution of small percentage of profits to shareholders.
7 0
4 years ago
Read 2 more answers
Assets Liabilities
Jobisdone [24]

Answer:

b. $40,000

Explanation:

Calculation for What additional money Carland National Bank can create

Using this formula

Additional money=Total Reserves-(Demand Deposits*Reserve requirement percentage)

Let plug in the formula

Additional money = $60,000 -( $200,000*10%)

Additional money = $60,000-$20,000

Additional money = $40,000

Therefore the additional money Carland National Bank can create will be $40,000

3 0
3 years ago
Which fact supports the idea that renting is a good option for living in a place for a short period of time?
Nostrana [21]

Answer:

Which fact supports the idea that renting is a good option for living in a place for a short period of time?

The idea about renting is a good option as far is for a short period of time which enables one to increase savings which would lead to accumulation of more savings before getting ones permanent residence.

Explanation:

6 0
4 years ago
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