The concept of demand is best described as:. a. the quantity of a good or a service that people are willing and able to purchase at different possible prices.
b. the total satisfaction that consuming a good provides people at different prices.
c. the additional satisfaction derived from a quantity of goods and services obtained when income increases.
d. the quantity of a good or a service that people will offer for sale at different possible prices.
e. the quantity of a good or service that consumers will substitute when the price of a good changes.
The basic proposition of the law of demand is that:.
a. higher prices cause buyers to demand more.
b. buyers demand lower prices.
c. higher prices cause less demand.
d. as the price of a good decreases, buyers are willing and able to purchase less.
e. as the price of a good increases, buyers are willing and able to purchase less.
In a market economy, there is relationship between the price of a good and the amount of a good that buyers are willing and able to purchase.

The following selected circumstances relate to pending lawsuits for erismus, inc. erismus’s fiscal year ends on december 31. financial statements are issued in march 2019. erismus prepares its financial statements according to u.s. gaap. required: indicate the amount erismus would record as an asset, liability, or not accrued in the following circumstances. 1. erismus is defending against a lawsuit. erismus's management believes the company has a slightly worse than 50/50 chance of eventually prevailing in court, and that if it loses, the judgment will be $1,000,000. 2. erismus is defending against a lawsuit. erismus's management believes it is probable that the company will lose in court. if it loses, management believes that damages could fall anywhere in the range of $2,000,000 to $4,000,000, with any damage in that range equally likely. 3. erismus is defending against a lawsuit. erismus's management believes it is probable that the company will lose in court. if it loses, management believes that damages will eventually be $5,000,000, with a present value of $3,500,000. 4. erismus is a plaintiff in a lawsuit. erismus's management believes it is probable that the company eventually will prevail in court, and that if it prevails, the judgment will be $1,000,000. 5. erismus is a plaintiff in a lawsuit. erismus’s management believes it is virtually certain that the company eventually will prevail in court, and that if it prevails, the judgment will be $500,000.

What is one counter argument to the premise that the wealth gap is a serious problem which needs to be addressed?

Turrubiates corporation makes a product that uses a material with the following standards standard quantity 8.0 liters per unit standard price $2.50 per liter standard cost $20.00 per unit the company budgeted for production of 3,800 units in april, but actual production was 3,900 units. the company used 32,000 liters of direct material to produce this output. the company purchased 20,100 liters of the direct material at $2.6 per liter. the direct materials purchases variance is computed when the materials are purchased. the materials quantity variance for april is: