Explanation:
sorry couldn't get the full pic..but this is the answer.
<u>Question 1</u>
The correct answer is: "FALSE".
The total revenue earned by a firm is computed using the formula:
R= price * quantity
According to the formula, if the term "price" increases, R would increase too. But an increase in price usually decreases the amount demanded by consumers of a certain product. Therefore, if quantity demanded drops in a higher proportion than the increase in price, the final total revenue would decrease. So the final effect depends on the size of the two variations.
<u>Question 2</u>
<u>The determinants of demand are the following:</u>
- Price: inversely related to the quantity demanded, as the larger the price the smaller the amount demanded of a product.
- Income of consumers: directly related. The larger the income earned by an economic agent, the larger the amount demanded of a normal good (there are exceptions, such as inferior goods, for which income and demand are inversely related).
- Prices of related goods of services. If two goods are substitutes, the increase on the price of one, decreases the amount demanded of that product but increases the amount demanded of the other product. It two goods are complements, the increase in the price of one good decreases the amount demanded of it, and the amount demanded of the other product too.
- Tastes or preferences of consumers. If a product is in line with the general preferences of consumers the amount demanded will be large.
- Market expectations. For example, if a price is expected to rise, consumers might prefer to buy now and therefore demand increases at the moment.
D. It proposed an equal number of senators per state.
I had it as a study island question. hope this helps.
Identity vs identity confusion is your answer
<u>Answer:
</u>
C) Lower needs are concerned with the physiological needs and existence requirement whereas higher needs are concerned with self-esteem, self-actualization, and growth.
<u>Explanation</u>:
Mash-low hierarchy of needs is a motivational theory that describes the human needs in a pyramid
<u>There are from lower to higher study needs are there :
</u>
- Self-actualization needs.
The first three needs are lower. Without completion or fulfillment of these needs, we can not reach the higher needs called the last two needs.
