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Fudgin [204]
2 years ago
13

Which of the following scenarios illustrates the law of demand?

Business
1 answer:
Genrish500 [490]2 years ago
3 0

Answer:

Option B is correct.

Explanation:

In order to answer this question correctly, we first need to understand the law of demands.

Law of demands: It says that the relationship of price and quantity demanded is inversely proportional. It means if the price of a particular product goes high, then the quantity of demand will be reduced. Similarly, if the price of the product is low then the quantity of demanded will be higher.

Here,

Option B is the most relevant to the Law of Demand which says that Kathleen eats more steak when the price is low. It means when the price is low, the quantity of steak demanded is higher in Kathleen's case. Furthermore, Kathleen eats less when the price is high. It means, when the price of steak is higher then the quantity of steak demanded from Kathleen is low.

Hence, Option B is the correct option which fulfills the law of demand.

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to insure goods to send them overseas it costs the exporter 5/2% of the value of the goods. if the goods are valued at 16.400$,
Marianna [84]

Answer:

the insurance cost is $410

Explanation:

The computation of the insurance cost is shown below:

Given that

The exporter charged 5 by2% of the value of the goods for insured the goods

And, the goods are valued at $16,400

So the insurance cost is

= $16,400 × 5 ÷ 2%

= $16,400 × 2.5%

= $410

hence, the insurance cost is $410

3 0
2 years ago
Last year Rocco Corporation's sales were $225 million. If sales grow at 6% per year, how large (in millions) will they be 5 year
cupoosta [38]

Answer:

b. $301.10

Explanation:

Current Sales = P = $225,000,000

Growth rate = g = 6%

Number of year = 5 years

Using simple growth formula we will find the Sales value after 5 years.

Future Sales = Current Sale ( 1 + growth rate )^Number of years

A = P ( 1 + g )^n

A = 225,000,000 x ( 1 + 0.06 )^5

A = 225,000,000 x 1.33823

A = 301,101,750 = 301.10175 Million

So, the correct option is b. $301.10.

3 0
3 years ago
Identify two advantages of dollar-value lifo compared with unit lifo.
Gnom [1K]
Can you please explain more? :)
6 0
3 years ago
What is meant by reconciliation, and how can it be useful as an input to staff ing planning? wuizlet
umka21 [38]

entails accepting predicted gaps and their most likely causes. They can be helpful in identifying areas to concentrate on and in responding to projected results for the organisational unit.

What is Staffing Planning?
A staffing plan is a strategic planning process used by a business to evaluate and identify its personnel needs (usually under the direction of the HR team). In other words, a solid staffing plan aids in your understanding of the quantity and variety of personnel your business requires to achieve its objectives.

To learn more about Staffing Planning
brainly.com/question/3504046
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7 0
2 years ago
an organization founded by businesses in a specific in a specific industry for the purpose of collaborating within the industry
olga nikolaevna [1]
The answer to the question that is being presented aboev would be an association. An organization founded by businesses in a specific industry for the purpose of collaborating within the industry and advocating for theirworkers is called an association. 
6 0
3 years ago
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