Answer:The law of supply says that a higher price will induce producers to supply a higher quantity to the market. Supply in a market can be depicted as an upward sloping supply curve that shows how the quantity supplied will respond to various prices over a period of time.
Explanation:
Answer:
Lorenz curve can be understood as a graphical representation of distribution of wealth or income among the population in a given economy.
Explanation:
Lorenz Curve was proposed by Max O. Lorenz in the year 1905 to represent inequality in the distribution of income among the given population. This curve illustrates that the distribution of wealth is not equal, where one section of the population has all the wealth or income of the economy and the other section of the population is left with none. Whereas in the case of perfect equality, each section of the population should receive an equal amount of wealth of the economy. This means that N% of the society should always have N% of income and not more and not less than that. Thus, this situation is hypothetical and thus, the idea of the Lorenz Curve comes into consideration.
Answer:
$1,150
Explanation:
$2,000+[(3,200-2,000) * .25]= $2,300 is their pre-limitation credit
But limited due to AGI as: $2,300 *($180,000 — 170,000/20,000) = $1,150.
The correct answer to this open question is the following.
In the set of all past due accounts, let the event A mean the account is between 31 and 60 days past due and event B means the account is that of a new customer. The complement of A is all accounts fewer than 31 or more than 60 days past due.
That is why is so important to maintain a good credit score. A past-due account was not paid on time and with the minimum amount of money it was required. So pay attention to the last day marked in your account statement. It is not a good thing to your record and you will be paying extra money due to a late fee.
