Assume that the price for swimming pool maintenance services has risen and sales of these services have fallen. One can conclude that
Assume that the price for swimming pool maintenance services has risen and sales of these services have fallen. One can conclude that
A) the law of supply has been violated.
B) the demand for swimming pool maintenance services has increased.
C) the supply of swimming pool maintenance services has decreased.
D) swimming pool maintenance services are becoming more technologically advanced.
Homework Answers
answer is C) the supply of swimming pool maintenance services has decreased.
Add Answer to:
Assume that the price for swimming pool maintenance services has risen and sales of these services have fallen. One can conclude that
The price of apples has recently fallen in the marketplace. From this information, we can safely...
The price of apples has recently fallen in the marketplace. From this information, we can safely predict that: the supply of apples recently decreased. the demand for apples recently increased. a surplus of apples must have existed. a shortage of apples must have existed.
37) Refer to Table 7-4. Which country has an A) Estonia B) Morocco C) both countries...
37) Refer to Table 7-4. Which country has an A) Estonia B) Morocco C) both countries D) neither country advantage in producing 38) Refer to Table 7-6. What is the opportunity cost to produce 1 be in Eston A) 1/3 of a sword B) 3/5 of a sword C) 1.67 swords D) 5 swords 39) Refer to Table 7-6. What is the opportunity cost to produce 1 betin Morocco A) 1/2 of a sword B) 1 sword C) 1.5 swords...
1)Suppose it is observed in a market that price has fallen but more product is being...
1)Suppose it is observed in a market that price has fallen but more product is being produced and sold. This could be caused by a(n): A) decrease in supply and demand B) decrease in demand C) decrease in supply D) increase in supply 2) Production can be increased whenever people: A) engage in activities with a high opportunity cost B) specialize in whchever field they have a comparative advantage in C) Specialize in whatever interests them D) Do not allocate...
Your company specializes in pool cleaning and maintenance services, and you have identified a large health...
Your company specializes in pool cleaning and maintenance services, and you have identified a large health club that has several locations as a prospect and conducted research on the business. You think you have identified some opportunities to help the customer save money. One service option provides biweekly maintenance visits, and the customer pays monthly. Another involves monthly service visits and biannual training sessions at your customer’s business so that their staff can learn to perform routine maintenance tasks on...
In this question, assume that all variables other than price and quantity are held constant. At...
In this question, assume that all variables other than price and quantity are held constant. At Betty's Burgers, the hamburgers have a price elasticity of demand 505 and Betty has increased sales by 85.00%. Betty must have decreased the price of her burgers. Betty must have changed her price by 57.13 Due to the price change, Betty's total revenue will increase. Patty's Putts increased the price of a round of miniature golf by 46.0%. Patty has calculated her price elasticity...
Assume that the equilibrium quantity of 2-litre bottles of Coke sold has increased significantly over the...
Assume that the equilibrium quantity of 2-litre bottles of Coke sold has increased significantly over the past 2 years, with virtually no change in the equilibrium price. 3.5. Use basic supply and demand curves on one diagram to illustrate the possible changes in demand and/or supply that could have led to the above outcome. Remember to labei your diagram for the market for 2-litre bottles of Coke properly. (5) in terms of price and quantity, describe what you understand the...
m to have more and 13. University tuition rises almost eve y fulton rises almost every...
m to have more and 13. University tuition rises almost eve y fulton rises almost every year. vet universities seem to have more more students every year. What would explain this situation Both the supply of and demand for university education are falling. b. The demand for university edu ne demand for university education and more quickly than supply. c. The doma e demand for university education is rising more slowly than supply. e supply of the university education has...
Some producers are chatting over a beer. Which of their statements refers to a rightward shift...
Some producers are chatting over a beer. Which of their statements refers to a rightward shift of the supply curve? Select one: a. "Wage increases have forced us to raise our prices." b. "Raw material prices have sky-rocketed. We will have to pass the cost on to our customers." c. "Our new, sophisticated equipment will enable us to undercut our competitors." d. "We anticipate a big increase in demand. Our product price should rise, so we are planning for an...
16. Suppose that the price of one product increases from $11 to $42. As a result,...
16. Suppose that the price of one product increases from $11 to $42. As a result, quantity demanded for another product changes from 260 to 180. Based on this information you can tell that these two products are (select one): a. complements b. normal C. substitutes d. inferior 17. Suppose that when the store increases the price of laundry detergent from $2.50 to $3.90, quantity demanded decreased from 210 to 130. What is the change in total revenue as a...
2 pts The government can assist in reducing the level of structural unemployment by O providing...
2 pts The government can assist in reducing the level of structural unemployment by O providing unemployment benefits. O establishing government regulations on hiring employees. subsidizing the relocation of workers who lose their jobs. O instituting a minimum-wage law incentivizing companies to move their production overseas. Quiz saved at 6:47pm Submit Quiz 15 MacBook Air D Question 6 2 pts Imagine you find yourself in a heat wave and your air conditioner has broken. Unable to find a new one...
37) Refer to Table 7-4. Which country has an A) Estonia B) Morocco C) both countries D) neither country advantage in producing 38) Refer to Table 7-6. What is the opportunity cost to produce 1 be in Eston A) 1/3 of a sword B) 3/5 of a sword C) 1.67 swords D) 5 swords 39) Refer to Table 7-6. What is the opportunity cost to produce 1 betin Morocco A) 1/2 of a sword B) 1 sword C) 1.5 swords...
In this question, assume that all variables other than price and quantity are held constant. At Betty's Burgers, the hamburgers have a price elasticity of demand 505 and Betty has increased sales by 85.00%. Betty must have decreased the price of her burgers. Betty must have changed her price by 57.13 Due to the price change, Betty's total revenue will increase. Patty's Putts increased the price of a round of miniature golf by 46.0%. Patty has calculated her price elasticity...
Assume that the equilibrium quantity of 2-litre bottles of Coke sold has increased significantly over the past 2 years, with virtually no change in the equilibrium price. 3.5. Use basic supply and demand curves on one diagram to illustrate the possible changes in demand and/or supply that could have led to the above outcome. Remember to labei your diagram for the market for 2-litre bottles of Coke properly. (5) in terms of price and quantity, describe what you understand the...
m to have more and 13. University tuition rises almost eve y fulton rises almost every year. vet universities seem to have more more students every year. What would explain this situation Both the supply of and demand for university education are falling. b. The demand for university edu ne demand for university education and more quickly than supply. c. The doma e demand for university education is rising more slowly than supply. e supply of the university education has...
Some producers are chatting over a beer. Which of their statements refers to a rightward shift of the supply curve? Select one: a. "Wage increases have forced us to raise our prices." b. "Raw material prices have sky-rocketed. We will have to pass the cost on to our customers." c. "Our new, sophisticated equipment will enable us to undercut our competitors." d. "We anticipate a big increase in demand. Our product price should rise, so we are planning for an...
16. Suppose that the price of one product increases from $11 to $42. As a result, quantity demanded for another product changes from 260 to 180. Based on this information you can tell that these two products are (select one): a. complements b. normal C. substitutes d. inferior 17. Suppose that when the store increases the price of laundry detergent from $2.50 to $3.90, quantity demanded decreased from 210 to 130. What is the change in total revenue as a...
2 pts The government can assist in reducing the level of structural unemployment by O providing unemployment benefits. O establishing government regulations on hiring employees. subsidizing the relocation of workers who lose their jobs. O instituting a minimum-wage law incentivizing companies to move their production overseas. Quiz saved at 6:47pm Submit Quiz 15 MacBook Air D Question 6 2 pts Imagine you find yourself in a heat wave and your air conditioner has broken. Unable to find a new one...
Most questions answered within 3 hours.
-
Where is the error in this code sequence?
String s1 = "Hello";
String s2 = "ello";...
asked 11 months ago -
Financial data for Joel de Paris, Inc., for last year
follow:
Joel de Paris, Inc.
Balance...
asked 11 months ago -
Consider this reaction:
Al2(SO4)3 (aq)+ BaCl3
(aq) Al2Cl6 (aq)- +
3BaSO4(s) . What is the...
asked 11 months ago -
Suppose that Savneet is considering increasing her
recent random sample from 20 car rentals to 40...
asked 11 months ago -
Trucks arrive at an unloading terminal at an average rate of 120
per hour.
Trucks arrive...
asked 11 months ago -
Why are methanol and ethanol completely soluble in water while
octanol is not very little soluble....
asked 11 months ago -
A facilities manager at a university reads in a research report
that the mean amount of...
asked 11 months ago -
When the CuSO4 is rehydrated by adding water to the anhydrous
compound, is this an endothermic...
asked 11 months ago -
A ray of sunlight is passing from diamond into crown glass; the
angle of incidence is...
asked 11 months ago -
A block of mass 0.249 kg is placed on top of a light, vertical
spring of...
asked 11 months ago -
how do the kidneys compensate in the presences of acidosis
a) trigger hyperventilate
b) reserve acid...
asked 11 months ago -
Question 501 pts
The rental rate of capital to the firm increases. Which of the
following...
asked 11 months ago