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 50 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
Excellent

laurnthompson

  • Member
  • Posts: 334
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

On average, someone in the United States has a stroke about every 40 seconds. This is about 795,000 people per year.

Did you know?

Many people have small pouches in their colons that bulge outward through weak spots. Each pouch is called a diverticulum. About 10% of Americans older than age 40 years have diverticulosis, which, when the pouches become infected or inflamed, is called diverticulitis. The main cause of diverticular disease is a low-fiber diet.

Did you know?

Nearly 31 million adults in America have a total cholesterol level that is more than 240 mg per dL.

Did you know?

Each year in the United States, there are approximately six million pregnancies. This means that at any one time, about 4% of women in the United States are pregnant.

Did you know?

The most common childhood diseases include croup, chickenpox, ear infections, flu, pneumonia, ringworm, respiratory syncytial virus, scabies, head lice, and asthma.

The heat range of a spark plug is determined by the distance the heat has to flow from the tip to ... The heat range of a spark plug is determined by the distance the heat has to flow from the tip to ...
U.S. Subsurface Coal Mining: Output, Price, and Output per Worker-Hour, 1949–1994 U.S. Subsurface Coal Mining: Output, Price, and Output per Worker-Hour, 1949–1994
Importance of Considering Gestalt Principles in Product Design (2 of 2) Importance of Considering Gestalt Principles in Product Design (2 of 2)
Find the factor demand for labour and the amount of output it will produce. Show all ... Find the factor demand for labour and the amount of output it will produce. Show all ...
During a period of high power demand, the voltage output of the power company is reduced by ... During a period of high power demand, the voltage output of the power company is reduced by ...
The retail price of a packaged CD is $60.00, which includes a tax of 4%. What is the actual ... The retail price of a packaged CD is $60.00, which includes a tax of 4%. What is the actual ...
Video: Arthritis

For a complete list of videos, visit our video library