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sertanlavr [38]
3 years ago
5

Consider whether the Law of Demand holds in the following situations.The price of anti minus venom serumanti−venom serum​, sold

to those with snake bitessold to those with snake bites​, increased from​ $45 to​ $52, but consumption has still remained the same.In this​ situation, the Law of Demand​ __________.A.does not​ hold, since the product is not sold in normal​ markets, so it cannot follow the Law of Demand.B.​holds, since the Law of Demand must hold for all goods in all instances.C.does not​ hold, since the product sold is required for​ survival, so increasing the price did not affect consumption.D.​holds, since a change in the price of the product resulted in a change in the quantity demanded of the product.
Business
1 answer:
guapka [62]3 years ago
7 0

Answer: C. does not​ hold, since the product sold is required for​ survival, so increasing the price did not affect consumption

Explanation:

The law of demand simply stated that when the price of a particular good increases, people will buy less of that product and when there is reduction in the price of the good, consumers will buy more of that particular product.

In the scenario in the question, the law of demand doesn't hold because despite the rise in price, the quantity demanded doesn't change.

Therefore, the correct option is C.

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Answer:

c) AICPA accounting and auditing guide, Audits of Colleges and Universities and/or AICPA SOP 74-8, Financial Accounting and Financial Reporting by Colleges and Universities.

Explanation:

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A domestic company creates a strategic partnership with a foreign company in order to enter a foreign market. Both companies sha
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When two companies come together strategically to operate is called a joint venture.

<h3>What is a Joint Venture?</h3>

A Joint simply put is when two separate entities or business agree to share resources with the aim of archeiving similar or one objective.

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Learn more about joint venture here:

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1 year ago
Le Jouet is a profit-maximizing firm that produces toy trains. In France, its home country, it enjoys unchallenged market power
marysya [2.9K]

Answer:

The demand that Le Jouet faces for toy trains in France is less elastic than in Russia.

Explanation:

This is the statement that best describes the panorama that Le Jouet faces in France. When comparing the markets of France and Russia, we learn that the demand for toy trains in France is less elastic than the demand in Russia. Price elasticity refers to a measure of responsiveness of consumers. This measures how responsive consumers are to a price change.

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18) 20 points Steve's Hardware Store uses the perpetual inventory system. The business incurred the following transactions: A. O
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The first one is the right answer
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3 years ago
under teh statements on standards for tax services, a cpa may recommend a tax return if the position is frivolous and the positi
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Under The Statements On Standards For Tax Services, A CPA May Recommend A Tax Return Position If The Position Is Frivolous And The Position Is Not Disclosed On The Tax Return. Standards for Tax Services, a CPA may recommend a tax return position if the position is frivolous and the position is not disclosed on the tax return. This statement is false.

A taxpayer wants to take a position on a tax return that the CPA determines is frivolous. However, the CPA and the taxpayer determine that the possibility of the return being selected for audit is remote and that even if the return is selected for audit the issue most likely will not be raised.

  • Cannot sign or prepare the return .
    The CPA concludes that a taxpayer's desire to comment on a tax return is frivolous. However, the CPA and the taxpayer come to the conclusion that it is unlikely that the return will be chosen for audit and that, even if it is, the matter most likely won't be brought up.
  • A taxpayer is anybody who owes taxes to the federal, state, or municipal governments, whether they are an individual or a corporation. Governments primarily obtain their funding through taxes, which are levied on both citizens and companies.
  • A tax return is one or more forms submitted to a taxing body that include earnings, outlays, and other crucial tax data. Tax returns provide taxpayers the option to determine their tax burden, plan out their tax payments, or ask for refunds for any taxes they have paid in excess of what is required.

Complete question: Under The Statements On Standards For Tax Services, A CPA May Recommend A Tax Return Position If The Position Is Frivolous And The Position Is Not Disclosed On The Tax Return. True Or False? This problem has been solved! See the answer Under the Statements on Standards for Tax Services, a CPA may recommend a tax return position if the position is frivolous and the position is not disclosed on the tax return. True or False?

To know more about taxpayer visit:
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5 0
1 year ago
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