Both y and x is the correct answer
Answer:
Equilibrium Price - 3
Equilibrium Quantity - 3
Explanation:
The price at which there will be equilibrium in the chocolate market is 3 units while the corresponding quantity is also 3 units.
<u>The equilibrium price and quantity represents the price and quantity where the demand for a product is equal to the supply for the same product respectively.</u>
<em>In the graph, the point of intersection of the demand and the supply curve represents the equilibrium point. At this point, the price on the Y axis is 3 units while the corresponding quantity on the X axis is also 3 units.</em>
Answer:
A.overstate; substitution
Explanation:
Consumer Price Index (CPI): is a measure that examines the weighted average of prices of consumer goods and services, such as transportation, food, and medical care. It is calculated by taking the average of the price changes for each item in the predetermined goods. Changes in the CPI are used to assess price changes associated with the cost of living therefore the CPI is used economist for identifying periods of inflation or deflation.
when we say the CPI overstate inflation; it is because of:
Substitution bias (when the price of a product in the consumer basket increases substantially, consumers tend to substitute lower-priced alternatives; Therefore, it tends to overstate inflation due to a lack of accountability
) and;
Quality bias (over time, technological advances increase the life and usefulness of products).
In a SWOT stands for: Strength, Weakness, Opportunity and Threat. SWO are internal factors while T is an external factor. So if you look at your choices, products, customers and employees are internal and only one is external, which is Competing companies.
The answer is C.
Even when there is no advertising, consumer taste can still change over time due to changes in A. age and education.
<h3>What leads to a change in consumer taste?</h3>
The age of a person can influence their consumer taste because people of different ages have different interests.
For instance, a child might like a certain type of video games such as low graphic and uncomplicated gameplay games while an adult would prefer high level video games that need to be played on consoles.
The education of a person can also influence their consumer taste.
For instance, an educated person might want less unhealthy food because they know the effects it has on the body while a less educated person might want that unhealthy food because they don't know that they are killing themselves slowly.
Options include:
- age and education
- the total number of consumers
- media influence
Find out more on changes in consumer taste at brainly.com/question/14840248
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