It is evident from the problem statement that an overall price reduction of Nike air max shoes will lead to an increase in the demand for the shoe.
In Economics, the relationship between price and demand is stated as follows <em>"If all other factors remain equal, the higher the price of a good, the </em><em>fewer</em><em> people will </em><em>demand</em><em> that </em><em>good</em><em>. In other words, the </em><em>higher</em><em> the price, the </em><em>lower</em><em> the </em><em>quantity</em><em> demanded and vice versa."</em>
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In all, the Law of Demand tells us that if more people want to buy something, given a limited supply, the price of that thing will be bid higher, also of the price of something is low the demand will be high.
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Answer:
The approximate monthly rate of growth is 1.24%
Step-by-step explanation:
we have the future value formula
we have
----> annual interest rate
so
Find the approximate monthly rate of growth
Remember that
so
Divide the number of periods t by 12
Applying power rules property
Convert to percentage
therefore
The approximate monthly rate of growth is 1.24%
Six million, one hundred seventy-three thousand, two hundred fifty three
(4,4)736472i would help but i jus points to do my homework lol
