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Bogdan [553]
2 years ago
6

In the market for labor, demand describes

Business
1 answer:
dsp732 years ago
5 0

Answer:

b.  

Explanation:

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Jan has just found out that she has been appointed to raise and provide the personal care of the children of her best friend in
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Jan has just found out that she has been appointed to raise and provide the personal care of the children of her best friend in her will. Jan considered in this will as guardian.

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What is a guardian for a kid?

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5 0
1 year ago
The selling price of a television is​ $1,600 and the cost to the retailer is​ $225. what is the​ retailer's gross profit from th
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Find the gross profit fro the sale of the television: 
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The gross profit of a sale is the profit from sales minus the cost it took to produce/complete the item or service. 
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3 years ago
A young chef is considering opening his own sushi bar. To do so, he would have to quit his current job, which pays $20,000 a yea
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Explanation:

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Identify the obstacles that are most relevant for a person trying to become a Geographer. Check all that apply.
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Read 2 more answers
Suppose the demand function (D) for golf clubs is: Q = 240-1.00P, where P is the price paid by consumers in dollars per club and
bogdanovich [222]

Solution :

According to the theory of demand and supply, the equilibrium price and the quantity is established where both the demand and supply curves intersect.

From the graph, we can see that the point of equilibrium is at the intersection of D and S.

At this point, mathematically, D = S. In order to determine the price and quantity which exists at this point, we need to equate the demand as well as supply functions to calculate the equilibrium values.

∵ D is equal to S, we have

$240-1.00P=1.00P$

240=2P

120=P

Now substituting this value of the equilibrium price in to any of the functions, we get the equilibrium quantity at this price.

$Q=240-1.00P$

$Q=240-1.00(120)$

$Q=240-120$

$Q=120$

This is the equilibrium quantity. At this point, equilibrium price as well as the quantity is the same. Let the price of the golf club increases from $120 to $140. So substituting the value to the function above to determine the new quantity.

$Q = 240-1.00(140)$

   = 100

Therefore, when the demanded quantity decreases from 120 thousand clubs to 100 thousand clubs. This increases the price and decreases the quantity as the supply curve moved to the left. The demand remains constant.

4 0
2 years ago
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