Pizza and sub sandwiches are substitutes. if the price of pizza decreases, this will cause: an increase in the quantity demanded and no change to the quantity supplied
What are substitutes?
Substitutes are goods that are used as alternatives, which means that the fact the decrease in price of pizza means that the quantity demanded would rise as more are demanded as the price reduces and vice versa.
There would be no change in quantity supplied because price decrease is not favorable for the suppliers of pizzas, since they would want to supply more at a higher price instead of supplying more at a lower price
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Answer: Option (B) is correct.
Explanation:
Correct option: The marginal utility from consuming good A will be lower than before.
This due to the law of diminishing marginal utility. When the price of good A falls as result consumer will buy more quantity of good A. But according to the law of diminishing marginal utility, as the consumers consumes more and more quantity of good, the utility derived from an additional unit goes on diminishing.
Therefore, the marginal utility from consuming good A will be lower than before.
My Answer: The entry of new firms cause the demand curve of an existing firm in a monopolistically competitive market to shift to the left because each will have a smaller share of the existing market and become more elastic since <span>consumers will have additional choices.
Hope I helped! :D</span>
Answer:
The correct answer is letter "D": Total variable costs decrease as the volume increases.
Explanation:
Total fixed costs are those that do not vary when the volume of production changes. However, unitary fixed costs change with fluctuations in production. As production increases, unitary fixed costs decrease and if production decreases unitary fixed costs increase.
Also, unitary variable costs remain the same in front of changes in output but total variable costs change directly proportional to variations in production.<em> It means if the volume in production increase so will total variable costs and vice versa.</em>
