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Genrish500 [490]
2 years ago
5

In year 1 the average price of X is $10, and in year 2 the average price of X is $23. If consumers buy more units of X in year 2

than in year 1, it follows that a. the law of supply does not hold for good X. b. demand for good X could be lower in year 2 than in year 1. c. supply of good X could be less in year 2 than in year 1. d. good X buyers have received an increase in income between year 1 and year 2, and good X is a normal good. e. good X buyers have received a decrease in income between year 1 and year 2, and good X is a normal good.
Business
1 answer:
xeze [42]2 years ago
8 0

Answer:

D

Explanation:

Normal goods are goods that are goods whose demand increases when income increases and falls when income falls

If good X is a normal good and the consumers income increases, the demand for good X would increase

It would have been that the Law of demand not supply that didn''t hold

according to the law of supply, the higher the price, the higher the quantity supplied and the lower the price, the lower the quantity supplied.

According to the law of demand, the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded.

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Which of the following most accurately explains why the supply curve for a good slopes upward to the right?
goldenfox [79]

Answer:

c. There is a direct relationship between a good’s price and the amount offered for sale by suppliers.

Explanation:

According to the law of supply concept, it shows a direct relationship between the price and the quantity supplied.  

As the price is rising, the quantity supplied also increases and if the rice is declining, the quantity supplied is also decreases

Since the supply curve slopes upward in the right direction which reflects the direct relationship between the price and the quantity supplied.

3 0
3 years ago
The average starting salary for graduates at a university is $33,000 with a standard deviation of $2,000. If a histogram of the
maxonik [38]

Answer:

Approximately $37000

Explanation:

A standard normal curve will be used to solve this question since the histogram of the data takes on a mound shape.

The mean salary is $33000 with one standard deviation equalling $2000.

Using the normal curve, 95% of the salary will lie between 2 standard deviation. i.e. $33000+$2000+$2000=$37000

6 0
2 years ago
Which one of the following statements correctly states a relationship?
Anon25 [30]

Answer:

D

Explanation:

i think

4 0
3 years ago
A business must decide whether to open a new office in China. If it opens the
guajiro [1.7K]

Answer:

C. The business could not use the money it spends on the new

branch for something else.

6 0
3 years ago
Under project planning activities, defining what leads to successful completion is a part of quizlet
marissa [1.9K]

Under project planning activities, defining what leads to successful completion is a part of <u>DURATION.</u>

Duration is the sum of the workdays, hours, or weeks necessary to finish a job. The length is determined by the resources' capability and availability. The amount of effort required to finish a task, or the actual time spent working on the project, is measured in person hours.

<h3><u>How is project duration calculated?</u></h3>
  • We must know how to estimate duration while creating a timetable. We might simply compute our projected project length by taking the number of effort hours, divided by the number of resources, assuming everyone worked eight hours each day and was completely productive throughout all eight hours.

To know more about duration in a project, check the given links.

brainly.com/question/11375376

#SPJ4

3 0
2 years ago
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