Answer:
neither the number of pretzels nor the number of cookies bought by the typical consumer changes from year to year
Explanation:
a. the percentage change in the price of pretzels is equal to the percentage change in the price of cookies from year to year. b. the number of pretzels bought by the typical consumer is equal to the number of cookies bought by the typical consumer in each year. neither the number of pretzels nor the number of cookies bought by the typical consumer changes from year to year. d. neither the price of pretzels nor the price of cookies changes from year to year.
The consumer price index measures the changes in the price level of a basket of good. It is used to measure the rate of inflation.
Since the CPI measures changes in price level, it is assumed that quantities of goods purchased remains constant.
I hope my answer helps you
Three basic economic questions are -
- What to produce?
- How to produce?
- Whom to produce for?
Economists study how households and businesses interact to produce the goods and services people need. They look at the factors of production, such as land, labor, and capital, and how they are combined to produce goods and services. Essentially, economists try to answer three sets of questions:
- What goods and services should be produced to satisfy consumer needs?
- How much of this product do you need?
- When should you produce a report?
- What is the best way to produce goods and services?
- How should these products be produced, and what resources should be used to do so?
- Who should be the recipients of goods and services?
- How should the product be allocated among consumers?
To learn more about Economics Questions from the given link
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Answer:
B. French wines will become more expensive in the United States.
Explanation:
Exchange rate is the rate at which one currency can be exchanged for another during international trade. The strength of a currency determines how much of the other countrie's goods it can purchase.
When the strength of a countrie's currency is high it will purchase more of the other countrie's goods. If however the currency is weak, it will take more to buy the other countrie's goods.
In this case if the dollar falls against the euro, it will take more dollars to buy French wine than before.
For example if a bottle of French wine was $500, after the fall the price may now be $800.
Answer:
Total cost= $60,800
Explanation:
Giving the following information:
For 4,000 units:
Unitary variable cost= $8
Unitary fixed cost= $5
<u>First, we need to calculate the total fixed cost:</u>
Total fixed cost= 5*4,000= $20,000
<u>Now, we can determine the total cost for 5,100 units:</u>
Total cost= 5,100*8 + 20,000
Total cost= $60,800
Answer:
B) $125,000
Explanation:
Price discrimination strategy refers to charging each customer the maximum amount of money he/she is willing to pay for a product.
In this case, the concert promoters should charge $150 per ticket to 1,000 die hard fans = $150,000 in revenue.
Then it should charge only $50 per ticket to 500 casual fans = $25,000 in revenue.
Total revenue = $150,000 + $25,000 = $175,000
<u>minus total costs = ($50,000) </u>
Net income = $125,000
