The flaw in the given statement about price and demand for airplane tickets is that; An increase in the price of a ticket will not cause a decrease in demand, but rather a decrease in quantity demanded.
<h3>Price and Demand</h3>
This is about price and demand.
Now, in macroeconomics, we know that;
As the price of a product increases, there will be a corresponding increase in the quantity of that product supplied (but not a change in supply) and as well a reduction in the quantity of that product demanded (but not a change in demand). This will happen until the equilibrium price is achieved.
Now, in our question we see that they are insinuating that an increase in price would lead to a change in demand and that does not correspond to macroeconomics principle.
Thus, the flaw in the statement is that An increase in the price of a ticket will not cause a decrease in demand, but rather a decrease in quantity demanded.
Read more about Price and demand at; brainly.com/question/2398546
If you got all select apply then these are the answers!
Planning is not one of the ways to incorporate classified source material into a new material.
<h3>What is a
classified source material?</h3>
A classified source material can be defined as an information source that comprises very important and sensitive information that must only be shared and disseminated secretly with authorized persons.
Generally, planning isn't considered as one of the ways to incorporate classified source material into a new material because it might eventually get leaked to unauthorized persons.
Read more on classified source material here: brainly.com/question/15346759
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Answer: I don’t know the song but I’ll check it out!
Explanation:Have a great day!✌
Based on the information given, it should be noted that the standard cost of a single backpack will be $32.00.
From the complete information, the standard cost for the backpack is calculated thus:
Materials = $9540
Direct labor = $5936
Variable manufacturing overhead= $1484
Total standard cost = $16960
Since the number of backpacks is 530, the standard cost for a single backpack will be:
= $16960 / 530
= $32.00
The actual cost per backpack will be:
= $32.00 - $0.20
= $31.80
Learn more about standard cost on:
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