For a firm that sells a prestige product, the relationship between price and quantity demanded is a <u>positive direct relationship</u>.
<h3>Why is the relationship between demand and price of prestige products direct?</h3>
The relationship between the demand and price of prestige products is direct because prestige products tend to sell better at high prices than at low prices.
And when the quantity demanded increases, the price tends to increase.
An example of a prestige product is an old car.
Thus, for a firm that sells a prestige product, the relationship between price and quantity demanded is a <u>positive direct relationship</u>.
Learn more about the demand for prestige products at brainly.com/question/6374886
A command economy would be an economic system that is the opposite of capitalism. A command economy could exist in a socialist system as well, whereby the state controls major businesses in an economy and provides close economic planning for a country's industries rather than allowing private ownership and free markets under capitalism.
Answer:
3) The only bank in a small town
Explanation:
By definition a monopoly occurs when there is only one supplier in the market for a specific good or service. In this case, if there is only one bank that works in a small town, then that bank has a monopoly of all the town's residents that require banking services. If any resident doesn't like that specific bank, they need to go to another town in search for banking services.
Based on the situation above, the notices shouldn’t be
posted because if the sign has been posted, this will only result to giving
rise to a claim of defamation by which this is an act of destroying another
individual’s reputation.
Answer:
The largest monthly payment he can afford for the T.V set in order to be kept within a safe load of 20% is $156
Explanation:
Before we calculate, let us extract the key information from this question:-
*** David's monthly net income is $1,360
*** David pays a monthly rent of $450
*** He is paying off a student loan which costs him $116 per month.
*** He intends purchasing a new T.v set
*** We are simply required to determine the largest monthly payment that David can afford for the T.v set in order for him to be kept within a safe load of 20%.
In order to calculate the largest monthly payment that he can afford for the T.v set so as to be kept within a safe load of 20%, we will need to determine the actual amount that is twenty percent of his net income. If his net income is $1,360 then twenty percent of it is:
20/100 × 1360
= 27200/100
= $272
All we need to do now to find the largest monthly payment he can afford for the TV set is to subtract the student loan that he is paying off monthly ($116) from twenty percent of his net income ($272). That is:-
$272 - $116 = $156
Therefore the largest monthly payment that David can afford for the television set in order for his credit card payments and student loan to keep him within a safe debt load of 20% is $156.
