What is theory of demand?

Mathematics

2 answers:

Yuri [45]3 years ago

4 0

Answer:

Demand theory is an economic principle relating to the relationship between consumer demand for goods and services and their prices in the market. ... As more of a good or service is available, demand drops and so does the equilibrium price.

Anna [14]3 years ago

3 0

Demand theory describes the way that changes in the quantity of a good or service demanded by consumers affects its price in the market, The theory states that the higher the price of a product is, all else equal, the less of it will be demanded, inferring a downward sloping demand curve.

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$20 haircut with 10% and 7% tax

Anika [276]

20 * .10 = 2 <em>(2 = 10% of 20)</em>

20 + 2 = 22

20 x .07 = 1.4 <em>(1.4 = 7% of 20)</em>

20 + 1.4 = 21.4

The price of a 20$ haircut with a 10% tax would be $22.

The price of a 20$ haircut with a 7% tax would be $21.40.

4 0

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