1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Tatiana [17]
2 years ago
7

Consider the following statement: ""an increase in the cost of oil will cause the price of a plane ticket to increase. This incr

ease in price will cause a decrease in demand for airline travel and a leftward shift in the demand curve. "".
SAT
1 answer:
Zolol [24]2 years ago
4 0

The flaw in the given statement about price and demand for airplane tickets is that; An increase in the price of a ticket will not cause a decrease in demand, but rather a decrease in quantity demanded.

<h3>Price and Demand</h3>

This is about price and demand.

Now, in macroeconomics, we know that;

As the price of a product increases, there will be a corresponding increase in the quantity of that product supplied (but not a change in supply) and as well a reduction in the quantity of that product demanded (but not a change in demand). This will happen until the equilibrium price is achieved.

Now, in our question we see that they are insinuating that an increase in price would lead to a change in demand and that does not correspond to macroeconomics principle.

Thus, the flaw in the statement is that An increase in the price of a ticket will not cause a decrease in demand, but rather a decrease in quantity demanded.

Read more about Price and demand at; brainly.com/question/2398546

You might be interested in
Describe a time when you changed your mind about something important. What led you to change your mind?
SOVA2 [1]
I was playing my game mom said go feed the dogs i said no the i thought about it and i need to feed them
6 0
1 year ago
HELP!!!
SpyIntel [72]
How we have to work together in order to function properly during the current pandemic.
8 0
2 years ago
Una oracion de agradecimiento por la vida.
Nata [24]

Answer:

We give thanks for life, the freedom to enjoy it all, and all other blessings. As we partake of food etc, we pray for health and strength to carry on and try to live as You would have us. This we ask in the name of Christ, Our Heavenly Father. "Amen"

7 0
3 years ago
A plan that locks in tuition prices at eligible colleges and universities is known as
Tcecarenko [31]
<span>A plan that locks in tuition prices at eligible colleges and universities is known as prepaid tuition plan.
This means that the person who wants this type of a plan will get a certain amount of money (the exact amount necessary to pay for the college) in order to pay the tuition for a desired college.
</span>
3 0
3 years ago
Read 2 more answers
Among the seven nominees for two vacancies on the city council are three men and four women. In how many ways may these vacancie
kodGreya [7K]

Answer:

This question is incomplete

Complete Question

Among the seven nominees for two vacancies on the city council are three men and four women. In how many ways may these vacancies be filled

a) with any two of the nominees?

b) with any two of the women?

c) with one of the men and one of the women?

Answer:

a) 21 ways

b) 6 ways

c) 12 ways

Step-by-step explanation:

We solve this question using combination formula

C(n, r) = nCr = n!/r! (n - r)!

a) with any two of the nominees?

Probability (two of the nominees) = 7C2

= 7!/2! ×(7 - 2)!

= 7!/ 2! × 5!

= 7 × 6 × 5 × 4 × 3 × 2 × 1/2 × 1 ×(5 × 4 × 3 × 2 × 1)

= 21

b) with any two of the women?

We have a total of 4 women

Hence, the probability of any two of the four women, filling the vacancies =

P(any two of the women) = 4C2

= 4!/2! ×( 4 - 2)!

= 4!/ 2! × 2!

= 4 × 3 × 2 × 1/ 2 × 1 ×( 2 × 1)

= 6

c) with one of the men and one of the

Total number of men = 3

Total number of women = 4

= 3C1 × 4C1

= [3!/1! ×(3 - 1)! ] × [4!/1! ×(4 - 1)! ]

= [3!/1! × 2!] × [4!/1! ×3!]

= [3 × 2 × 1/ 1 × 2 × 1] × [4 × 3 × 2 × 1/ 1 × 3 × 2 × 1]

= 3 × [24/6]

= 3 × 4

= 12 ways

6 0
2 years ago
Other questions:
  • What living thing carries out five basic life functions on its own?
    5·1 answer
  • I need help with math<br> Please
    11·2 answers
  • Which solution contains the largest number of chloride ions?
    7·1 answer
  • I bet you know the story of the tortoise and the hare. The race between the two is famous. Here is just some of the data from th
    11·2 answers
  • The variables x and y are directly proportional, and y=4 when x=3. What is the value of y when x=15 ?
    15·1 answer
  • Big ideas math: modeling real life grade 6 assessment book answer key
    11·1 answer
  • A humpback whale is classified as a mammal while a basking shark is a fish.
    15·1 answer
  • Read the excerpt from act 2, scene 1, of julius caesar. [brutus.] th’ abuse of greatness is when it disjoins remorse from power.
    10·1 answer
  • How effective is it to complete all additional requests
    12·1 answer
  • Which situation would most likely be a driving force for changes in a species?
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!