This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: When is the price of a product demand determined? What will be an ideal ... (Read 29 times)

arivle123

  • Hero Member
  • *****
  • Posts: 569
on: Jun 29, 2018
When is the price of a product demand determined?
 
  What will be an ideal response?

Question 2

How is the official poverty line determined in the United States? What alternative method of measuring poverty has been suggested? Explain.
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

taylorsonier

  • Sr. Member
  • ****
  • Posts: 377
Reply #1 on: Jun 29, 2018
Answer to Question 1

The price of a product is demand determined when the product is in fixed supply. This means that the price of the product is determined solely by the amount that the highest bidder (or bidders) is willing to pay.

Answer to Question 2

The official poverty line is determined by taking three times the cost of the Department of Agriculture's minimum food budget. One alternative way to measure poverty is to set the poverty line at some percentage of the median income level.


arivle123

  • Member
  • Posts: 569
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

brbarasa

  • Member
  • Posts: 308
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

In 1885, the Lloyd Manufacturing Company of Albany, New York, promoted and sold "Cocaine Toothache Drops" at 15 cents per bottle! In 1914, the Harrison Narcotic Act brought the sale and distribution of this drug under federal control.

Did you know?

Essential fatty acids have been shown to be effective against ulcers, asthma, dental cavities, and skin disorders such as acne.

Did you know?

No drugs are available to relieve parathyroid disease. Parathyroid disease is caused by a parathyroid tumor, and it needs to be removed by surgery.

Did you know?

Adolescents often feel clumsy during puberty because during this time of development, their hands and feet grow faster than their arms and legs do. The body is therefore out of proportion. One out of five adolescents actually experiences growing pains during this period.

Did you know?

There are more nerve cells in one human brain than there are stars in the Milky Way.

Ginkgo Biloba label. The label indicates the product is standardized to percentages of the two ... Ginkgo Biloba label. The label indicates the product is standardized to percentages of the two ...
Product & Process Influences - Sterile Products Product & Process Influences - Sterile Products
Under ideal conditions, a single cell of the bacterium E. coli would divide every 20 minutes to ... Under ideal conditions, a single cell of the bacterium E. coli would divide every 20 minutes to ...
The position of the fetus is first determined by ultrasound The position of the fetus is first determined by ultrasound
Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ... Suppose the market supply curve is p = 5Q. If price increases from 10 to 15, the change in ...
Refer to Scenario 3.1. If the price of potato chips is $0.50 and the price of Cola is $4.00, ... Refer to Scenario 3.1. If the price of potato chips is $0.50 and the price of Cola is $4.00, ...
Video: Optic Nerve and Optic Disk Animation (Part 2 of 2)

For a complete list of videos, visit our video library