The present selling price corresponds to the equilibrium price of the product.
- We can observe that the equilibrium price is $400, and the equilibrium amount provided and required are both 4000. Because the current selling price is $400 and the equilibrium price is $400, we may conclude that the current selling price corresponds to the product's equilibrium price.
- The law of demand states that if more people want to buy something and there is a limited supply, the price of that item will rise. Similarly, the greater the price of an item, the less it will be purchased by consumers.
- The law of demand helps us understand why things are valued the way they are and to discover chances to acquire perceived underpriced (or sell perceived expensive) items, assets, or securities. For example, a company may increase output in reaction to higher prices caused by increased demand.
Thus this is the meaning of law of demand.
To learn more about law of demand, refer: brainly.com/question/21838055
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<span>Social cognitive theory emphasizes the role of Modeling in language Learning.
In social cognitive theory, Modeling is a form of imitation that carried out without instruction. People do this by embodying a role model in their mind and try to form some sort of behavioral pattern that will bring them closer to that role model
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Learning through punishment
Learning through punishment refers to the phenomenon where an unpleasant response (or punishment) following a behavior or action, makes that behavior or action less likely to occur in the future. In this case, when you get burnt (response) by touching a hot stove (behavior/ action), you learn that touching a hot stove equates pain (an unpleasant response). Therefore, you learn not to touch a hot stove again in the future.
What are you in the first grade? One is because their is freedom in America, two is because their is opportunity.. DURRRRRRRR......
