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Lera25 [3.4K]
3 years ago
9

Say the following 2 events occur at the same time: 1) an increase in the price of milk, an input in the production of cheese; 2)

a decrease in the price of bagels, a complement of cheese. The following 2 events would lead to a(n) _________ in the market price and a(n) __________ in the market quantity of cheese. 1 point indefinite change; indefinite change increase; indefinite change indefinite change; decrease indefinite change; increase decrease; indefinite change
Business
1 answer:
dsp733 years ago
6 0

Answer:

The correct answer is the following combination: Increase; indefinite change.

Explanation:

To begin with, in the microeconomics theory when it comes to the rise of the price of a product the factors of major impact will be the inputs needed in the production of final good. In this particular case, the fact that the price of the milk has increased it will afect directly the price of the cheese in a matter of going up. And that consequently will afect the quantity demanded by going down. However, due to the fact that now the price of the bagels, a complement of the cheese, has gone down then it is indefinite to known what will happen to the quantity demanded of the cheese due to the fact that this last factor will impact it positively. So in the end, the two situations affect the quantity to a matter of indefinite change.

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4 0
3 years ago
Read 2 more answers
If ten years ago the price of a movie ticket was $5 and the average hourly wage was $10, and today the price of a movie ticket i
adelina 88 [10]

Answer:

It means movies are relatively cheaper than working hours

Explanation:

In order to estimate the relativity of the two activities, there is a need to compare the changes over ten years

1. 10 years ago, Movie ticket= $5, 10 Years later Movie ticket= $8, the 10 year difference is $3

2. 10 years ago, average hourly wage = $10, 10 years later, average hourly wage = $20, the 10 year difference is $10

First, it means for the $3 change in movie ticket cost, there was a $10 change in the average hourly wage.

Put differently, while movie ticket got a 60% increase in price 3/5 x 100=60%

Average hourly wage got 100% increase  10/10 x 100= 100%

It means that working hours got more expensive and movie tickets got cheaper

8 0
3 years ago
HRH Collection Agency keeps a collection fee of 25% of any amounts collected. How much did the agency collect on a bad debt if t
Kazeer [188]

Answer:

The agency collected $ 622.5.

Explanation:

Since HRH Collection Agency keeps a collection fee of 25% of any amounts collected, to determine how much did the agency collect on a bad debt if the agency forwarded $ 2490 to a client, the following calculation must be performed:

2490 x 0.25 = X

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Therefore, the agency collected $ 622.5.

5 0
3 years ago
Suppose that a small country currently has $4 million of currency in circulation, $6 million of checkable deposits, $200 million
Hitman42 [59]

Answer:

correct option is a. $10 million; $280 million

Explanation:

given data

cash = $4 million

check able deposits = $6 million

savings deposits = $200 million

time deposits = $40 million

mutual fund deposits = $30 million

to find out

M1 money supply and M2 money supply

solution

we get here M1  that is

M1 = Cash + check able deposits     ...........1

put here value

M1 =  $4 + $6

M1 = $10 million

and

M2 will be here as

M2 = M1 + saving deposits + time deposits + mutual fund deposits ...............2

put here value

M2= $10 + $200 + $40 + $30

M2 = $280 million

so correct option is a. $10 million; $280 million

4 0
3 years ago
Jayden is a freelance writer. He builds a good rapport with everybody he works with. Most agencies that hire him are happy with
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Answer:

open to new experiences

Explanation:

Based on he information provided within the question in regards to Jayden and his freelance work, it can be said that he can best be described as being open to new experiences. This seems to be the most accurate description since he is an open-minded and curious person who is very acceptant of other's differences and seems enthusiastic with every new job.

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