Answer:
The correct answer is "substitution effect"
Explanation:
When the price of a good or service rises, and the consumers change into a cheaper product with similar characteristics; immediately the market experiencing a decrease in sales for these changes; That phenomenon is called substitution effect.
For Example:
When the chicken price increases, the consumers prefer to consume pork; Immediately the chicken sales decrease for this decision. That is called a substitution effect.
Answer:
False
Explanation:
The provision of the Uniform Commercial Code as amended is that any missing terms such as price, quantity,location and expected time of delivery as well as payment terms can be added to the contract later on with consent of all parties involved or provided in compliance with other commercial codes.
In other words,the fact that payment should be made within seven working days when payment terms are missing is alien to Uniform Commercial Code.
The answer, therefore is false.
When completing the FAFSA application, or Free Application for Federal Student Aid, you can apply for colleges.
Answer: 1300
Explanation:
From the equation,
Qxs = 200 + 4Px - 3Py - 5Pw
where
Px = price of X = 500
Py = price of y = 250
Pw = price of input w = 30
Putting the figures back into the supply equation, we have:
Qxs = 200 + 4Px - 3Py - 5Pw
= 200 + 4(500) - 3(250) - 150
= 200 + 2000 - 750 -150
Qxs = 1300
