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  • Which of the following is not a component of demand?
    Which of the following is not a component of demand?
    The correct answer is option B. Surplus occurs for a consumer when the difference in the price a consumer set aside or is willing to pay for a particular commodity is higher than the actual price of that commodity. It also occur for a producer when the amount a producer gain from selling a commodity at a higher price is more than the initial price of the commodity that the producer was willing to sell. Desire is commodity you wish to have, regardless of your purchasing power, needs and wants. It is a component of demand. Ability is also a component of demand; it is the financial power of a consumer to purchase goods or services. The willingness of consumers to buy a good or service is a key component in demand.

  • What does the law of demand state?
    What does the law of demand state?
    Less will be demanded, the question doesn't make sense (needs multiple answers).

  • What is the definition of aggregate demand?
    What is the definition of aggregate demand?
    3. The level of demand for all goods and services during a given period of time

  • When there is a shortage what should be done?
    When there is a shortage what should be done?
    In order to maintain profits the price will need to be increased.

  • What will be the reason for a decrease in price (resulting in an increase in total revenue)?
    What will be the reason for a decrease in price (resulting in an increase in total revenue)?
    Business is a complicated matter. However, there are certain basics that will always remain the same. For instance, a person selling products at a specific rate may earn less than another person selling the same thing at a lower price. This is because the decrease in price was accompanied by an increase in quantity. Even after decreasing the price, the person sold far more products that resulted in a higher revenue. Ultimately, this led to an increase in revenue as the person with the lower rate sold much more. So even if the profit per item was low, the total profit was much higher.

  • Which market will the majority of a tax be paid by the consumer?
    Which market will the majority of a tax be paid by the consumer?
    The correct answer to this question is B, market (b). Tax is a word which derives from the Latin word taxo. It is a charge which a taxpayer is required to pay by the government. Failure to pay taxes can lead to punishments by law. There are various types of taxes. Sales tax is taxes on goods and services such as food and clothing. The sales tax is by state and every state has different rates. States such as Alaska, Oregon, and Montana have no sales tax. Another type of tax is income tax. This involves the tax on taxpayers income and profits.

  • What is market equilebrium?
    What is market equilebrium?
    Market equilibrium is the price where supply of quantity equals quantity demanded.

  • Why do landlords cease to be responsive to tenants concern about the quality of the housing under rent control?
    Why do landlords cease to be responsive to tenants concern about the quality of the housing under rent control?
    With shortages and wait lists, they have no incentive to maintain and improve their property

  • What do capital costs for a coal-to-liquid plant involve?
    What do capital costs for a coal-to-liquid plant involve?
    All outlays made after the decision to construct a commercial plant and prior to the production of salable products.-reference: bartis, et al: appendix a, p. 119 a is correct. for our calculations, capital costs are defined as all outlays made after the decision to construct a commercial plant and prior to the production of salable products. capital costs, as defined in this approach, do not include factors to account for either inflation or interest accrued during construction. the effects of interest payments during construction are accounted for in the discounted-cash-flow calculations. for an ft ctl plant, our capital costs do not include investments associated with developing the mine or mines that will supply coal to the plant. instead, we assume that coal will be purchased via long-term contracts at prices that account for the costs associated with developing and operating a coal mine.

  • What does the law of supply clearly state?
    What does the law of supply clearly state?
    The higher the price level the more produced

  • Is it true that if price falls, there will be an increase in demand?
    Is it true that if price falls, there will be an increase in demand?
    False

  • What are the two main factors that can change the wealth of an economy?
    What are the two main factors that can change the wealth of an economy?
    A change in house prices and in the value of stocks and shares.

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