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Jlenok [28]
3 years ago
11

Page 81 3.2. What determines demand? Consider the market for caramel and butterscotch ice cream toppings. For each price change,

identify the likely effect on the demand curve for caramel topping. The demand for caramel topping will decrease. The demand for caramel topping will increase. The demand curve for caramel topping will remain the same. The price of ice cream increases. The price of caramel topping decreases. The price of butterscotch topping increases.
Business
1 answer:
Sidana [21]3 years ago
6 0

Answer:

The price of ice cream increases - The demand for caramel topping will decrease

The price of caramel topping decreases - The demand curve for caramel topping will remain the same. 

The price of butterscotch topping increases - The demand for caramel topping will increase. 

Explanation:

If the price of icecream increases , it would become expensive to make them. So producers would reduce quantity supplied of ice cream. As a result of the reduced supply, there would be less demand for caramel toppings.

Caramel and butterscotch toppings are subsituites. If the price of butterscotch toppings increase, the demand for caramel toppings would increase.

If the price of caramel toppings reduce, the quantity supplied would fall. This would lead to a movement along the demand curve and not a shift of the demand curve.

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Answer:B

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3 years ago
For a perfectly competitive firm, which of the following is not true at profit maximization?a. Total revenue minus total cost is
topjm [15]

Answer: Option (d) is correct.

Explanation:

Correct option: Market price is greater than marginal cost.

In a perfectly competitive market, there are large number of buyers and sellers. So, price is determined by the market forces.

At a point of profit maximization, price is equal to the marginal cost and we have to maximize the difference of the total revenue and total cost. It was not seen in a perfectly competitive market that the price is above the marginal cost at a profit maximizing point.

Therefore, option (d) is not true.

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3 years ago
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Memories are usually belonging to one specific human, and stored in their brain. The human race doesn't literally have a memory, so this must be  a metaphor.

This metaphor might mean what the human race, as a total, can remember and have access to.

So just like we remember what happened last Tuesday, the human race can find the information in a library about what happened in 1912- in this way, a library and a memory are similar, so a library is truly a memory of the human race.
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3 years ago
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vazorg [7]

Answer:

the answer is as follows

Explanation:

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The paper you are trying to write should start with this that how the idea of living wages is in itself difficult to be adopted as it is. Second the free market approach has been more successful in the economic history and a lot of evidence and data is available on that. The analysis that your paper will develop should outline the concerns that mainstream economists have regarding living wages and support it with some actual data.

The presentation would be rather easy after writing the paper. Which will include some graphs and data and some scholarly citations and it should work.

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