Answer:
Substitute Effect
Explanation:
When a product's price increases, it becomes relatively expensive compared to its alternatives. The high price will encourage consumers to choose other goods that are relatively cheaper. Consequently, the price increase reduces the demand for the product while increases the demand for its substitutes.
The substitution effect describes how consumption is affected by an increase or a decrease in a product's price.
It would be 610.32 . My teacher helped me with that one
Number 4 bottom answer
Explanation:
I know the first bit which is Total Utility is consumer satisfaction with all consumption for definite.
Answer:
134 books
Explanation:
The breakeven point is the number of units to be sold that will make the total sales equivalent with the total cost, such that the company neither makes a profit nor a loss.
Let the number of units sold to break even be c
5c = 1.25c + 500
5c - 1.25c = 500
3.75c = 500
c = 500/3.75
c = 133.33
≈ 134 books