Advertising keeps consumers informed about new products in the market at their disposal.
Answer:
b. The slope of the budget constraint is the same for each woman.
Explanation:
Budget Line is the combination of two goods that a consumer can buy, given prices & money income (all spent).
Equation : p1x1 + p2x2 = m ;
where p1 & p2 are price of good 1 & 2 , x1 & x2 are quantities of good 1 & good 2 , m = money income
- Abby's Budget Line : 5I + 8N = 80
- Bobbi's Budget Line : 5I + 8N = 60
- Deborah's Budget Line : 5I + 8N = 40 [ I = Icecream, N = Novel ]
Slope of Budget Line represents change (sacrifise) of a good needed to get change (gain) of other good, given same prices & income.
Slope = ΔY/ΔX = Px / Py
Since prices are same for each woman, price ratios & hence the slope of budget line will also be same for all of them.
Answer:
If the demand for the product or services goes down
Explanation:
A reduction in demand for a good or service results in a decline in its price. As per the law of supply and demand, a decline in demand while holding other factors constant pushing the equilibrium price down. Reduced prices mean that the revenues obtained from the sales of the product or service will decline.
Hiring an extra worker when the demand is low will lead to losses. Low demand causes low prices, which implies that the cost of the new employee will be greater than the benefits obtained from the worker. A reduction in prices will mean that the marginal product of labor will be lower than the cost of labor.
Answer:
The answer is:D) $226.78
Explanation:
To calculate the amount of money your grandfather deposited every 3 months during 52 years to get $289,209.11 we can use an excel spreadsheet and the payment function =PMT(rate,nper,pv,fv)
where:
- rate = 5.73% / 4 = 1.4325%
- nper = 52 x 4 = 208
- pv = 0
- fv = 289,209.11
PMT = $226.78
