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- In the market for smartphones, what event decreases the demand for smartphones today? The demand for smartphones decreases when ________. A. the price of a smartphone is expected to fall next month B. the price of a smartphone rises C. smartphones become more popular next month D. the price of a call from a smartphone fallsThe price of a DVD rental is 1.50 dollar and the price of a downloaded movie is $1. What is relative price of downloaded movie.A 5% decrease in the price of pizza leads to a 2% increase in the demand for beer and a 3% decrease in the demand for chocolate. We can therefore conclude that Question 2Answer a. Beer and pizza are complements and pizza and chocolate are substitutes b. Beer and pizza are substitutes and pizza and chocolate are complements c. Beer and pizza are substitutes and pizza and chocolate are substitutes d. Beer and pizza are complements and pizza and chocolate are complements
- Income of a person is Rs.8000 and he uses 60 units of a commodity. 1. Calculate income elasticity of demand when the income increased by 30% and consumption of the good is decline by 50%. Also calculate 2. New income 3. New consumption 4. Nature of goodbeckland price change increases of decreases by points beckland price change increases of decreases by millions Helndken price change by increases or decreases by points Helndken price change by increases or decreases by millionsIf ten books are sold when the price is $80 and twenty books are sold when the price is $60. What is the equation for the demand and draw the graph!
- Income of a person is Rs.8000 and he uses 60 units of a commodity. Calculate income elasticity of demand when the income increased by 30% and consumption of the good is decline by 50%. Also calculate 2.New income 3.New consumption 4.Nature of goodThe price for FireSticks is higher in the June than in January. This would be explained by the fact that a. demand for FireSticks is higher in the June than in the January. b. the supply of FireSticks is higher in the June than in the January. c. the quantity demanded of Firesticks is higher in June than in the January d. there are more Firesticks released into the market in June than in the January.The original income was R5000 and the quantity demanded wasR3000 there was an increase in income from R5000 to R7000 and an increase in the quantity demanded from R300 to R500.Draw the demand graph.
