This is the concept of financial mathematics, the amount that July was looking to pay will be found as follows;
Buying price =$250
let the amount July was looking to buy be x
let the percentage amount be 100-30=70%
percentage buying price be 100%
thus the value of x was:
x=70/100*250
x=$175
the answer is x=$175
It would be salary because its the same pay rate no matter if you work extra hrs or not
<span>The answer is price. The price of a good conveys about its
relative scarcity or abundancy. If the price is high, the good is scare meaning
you can gain money by selling extra of it, and you can save money by buying a
lesser amount of it. If you act according to your self-interest, selling more
and buying less of that costly good, the scarcity of that good will be toned-down.
If the price of a good is low, you can exhilarated to do the contrary, thus removing
any excess of the good in the market. </span>
In the long run, the most important factor shifting the SRAS curve is productivity growth.
<h3>
What do you mean by productivity growth?</h3>
Productivity—in economic terms—is how much output can be produced with a given quantity of labor. One measure of this is output per worker, or GDP per capita.
Since 1947, the U.S. corporate sector has been able to create nine times more goods and services with only a little increase in labor hours thanks to productivity gains. An economy may create and consume more goods and services for the same amount of effort when productivity is growing.
Productivity is a way of thinking and a condition of being. Being effective entails acting in every situation as we actively choose to and not as we feel pressured to by external factors. Being productive requires adopting a mindset of constant development.
Learn more about productivity growth here
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