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pshichka [43]
3 years ago
11

The market for a good was in equilibrium. A change occurred which resulted in a new equilibrium with a higher price for the good

and a lower quantity traded. What change would have caused this?
A) The demand curve moved to the left.
B) The demand curve moved to the right.
C) The supply curve moved to the left.
D) The supply curve moved to the right
Business
1 answer:
aev [14]3 years ago
4 0

Answer:

C) The supply curve moved to the left.

Explanation:

A supply curve shift to the left due to a reduction in the quantity supplied to markets. When the market is at equilibrium, a decrease in supply will likely to create a shortage. Buyers will compete to buy the few available items at the price that suppliers will demand. Suppliers will take advantage of the " increase " in demand to raise prices.

A reduced supply means that the quantity available in the market decreases. At equilibrium, the quantity supplied matches demand, but when supply decreases, the quantity supplied also decreases.

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6 0
3 years ago
Gabe's Granola Bars had coffee mugs created with their company logo and passed them out on a busy Saturday at a popular grocery
kozerog [31]

Answer:

It would be an example of advertising.

Explanation:

This is because Gabe's Granola Bars are giving coffee mugs with their logo at a grocery store, not their own location.

I hope this helped!

5 0
3 years ago
Read 2 more answers
Diminishing marginal utiliDiminishing marginal utility means that A. the price of two hamburgers is twice the price of one. B. t
4vir4ik [10]

Answer: C beyond a certain​ point, total utility decreases as income rises

  • Diminishing marginal utility means that beyond certain point, the total utility from consuming a good decreases, and increasing its consumption monotonically, makes that every additional unit of consumption delivers less utility each time.
  • This is because most behavioral consumers models try to emulate the principle of scarcity: the less available units of a good, the more it values.
  • Then, an increasing income would allow us to buy more and more goods, and because of the existance of diminishing marginal utility, we would get less utility from consuming  additional units of every goods each time.
  • As an <u>example</u>,one could think about eating chocolate. The first bar would give us much happiness (utility), but increasing the number of bars  consumed would eventually vanish this "happiness".

5 0
3 years ago
Read 2 more answers
you invest $1300 in an account at interest rate r, compounded continuously. Find the time required for the amount to double and
miskamm [114]

Answer:

  • 1. <em>For the amount to double</em>: <u>9.37 years</u>
  • 2. <em>For the amount to triple</em>: <u>14.85 years</u>

Explanation:

The equation for continuosly compounded interest is:

  • F=P\times e^{rt}

Where:

  • P is the amount that you invest today: $1,300
  • F is the value after t years: the double or triple of $1,300
  • r is the annual interest rate: 0.074

<u>1. For the amount to double:</u>

Substitute the values and solve for t:

             2\times \$1,300=\$1,300\times e^{0.074t}\\ \\ 0.074t=\ln 2\\ \\ t=\ln 2/0.074=9.37years

<u>2. For the amount to triple:</u>

<u />

            3\times \$1,300=\$1,300\times e^{0.074t}\\ \\ 0.074t=\ln 3\\ \\ t=\ln 3/0.074=14.85years

4 0
3 years ago
A supply curve shows the relationship between the​ ______ and​ _____ when all other influences on selling plans remain the same.
adelina 88 [10]

Answer:

Price

Quantity supplied

Explanation:

The supply curve plots price on the vertical axis and quantity supplied on the horizontal axis.

The supply curve is upward sloping. This indicates the law of supply which says, the higher the price, the higher the quantity supplied and the lower the price, the lower the quantity supplied.

8 0
2 years ago
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