Business, 10.01.2020 03:31 iggysouchet
Suppose a firm in each of the two markets listed below were to increase its price by 25 percent. in which pair would the firm in the first market listed experience a dramatic decline in sales, but the firm in the second market listed would not?
a. restaurants and mp3 players
b. electricity and natural gas
c. corn and satellite radio
d. rice and soybeans
Answers: 3
Business, 21.06.2019 20:30
What do economists mean when they use the latin expression ceteris paribus?
Answers: 3
Business, 21.06.2019 22:10
Arival company manufactures fuel tanks for cars using a different production technique. the total weekly cost (in dollars) of producing x tanks is given by c(x) = 10000 +90x - 0.04x2 find the marginal cost at a production level of 500 fuel tanks per week to approximate the cost of the 501st unit (round to the nearest 2 decimal places, if needed)
Answers: 3
Business, 22.06.2019 06:40
Self-interest achieve society’s economic goals because producers know which goods consumers want the most. as consumers and producers exercise their freedom to act in their own self-interest, markets will produce the desired goods at the lowest possible cost. consumers and producers both operate based on society’s economic goals. consumers know which goods can be produced at the lowest cost. there is a wide variety of desired goods and services in a market system because producers determine what to produce. consumers change their minds frequently. there is always a need to produce something new and improved. individual wants are diverse. what is produced is ultimately determined by consumers, because if the goods offered are not what consumers want, consumers will not buy them. producers, because they are driven by profits. producers, because they determine what to produce. consumers, because they participate in marketing surveys.
Answers: 2
Business, 22.06.2019 11:00
The following transactions occurred during july: received $1,000 cash for services provided to a customer during july. received $4,000 cash investment from bob johnson, the owner of the business received $850 from a customer in partial payment of his account receivable which arose from sales in june. provided services to a customer on credit, $475. borrowed $7,000 from the bank by signing a promissory note. received $1,350 cash from a customer for services to be rendered next year. what was the amount of revenue for july?
Answers: 1
Suppose a firm in each of the two markets listed below were to increase its price by 25 percent. in...
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