First calculate the amount financed
Amount financed=725−50=675
The formula is
I=(2yc)/(m (n+1))
Solve for c to get
C=(I×m×(n+1))/2y
C=(0.14×675×(24+1))÷(2×12)=98.44
Total of payments=675+98.44=773.44
Monthly payment is
773.44÷24=32.23
Hope it helps!
Answer:
Option (b) is correct.
Explanation:
Before 1966, Catholics were restricted from consuming meat on Fridays and they ate fish on Fridays. But after 1966, there were no such restrictions are there and they are free to eat meat on Fridays, now Catholics also consume meat on Fridays.
This will result in an increase in the demand for meat and demand for fish decreases. So, this will shift the demand curve of fish leftwards and demand curve of meat rightwards.
Answer: Price differentiation
Explanation:
The startegy used by the theater company to shift demand for theater tickets is differentiating on the price. Price differentiation is a pricing strategy whereby difeent sets of customers are charged different prices for the same good or services.
The theater company gives 30% discount for people who buy the tickets early compared to people who buy the ticket on the day of the performance. This so differentiation on price.
Answer: The supply of vegetables has shifted to the left along an inelastic demand curve
Explanation: The quantity of vegetables sold has been reduced by 20 percent, which simply means the aggregate market supply curve has experienced a drop/decrease and that is usually indicated by a complete shift of the supply curve to the left.
Furthermore, we can determine easily if the demand is elastic or inelastic, since the question has stated the percentage change in quantity demanded as 20% and the percentage change in price as 30%.
The coefficient of elasticity is calculated as
E = %change in quantity demanded/%change in price
E = 20/30
E =0.66
Since the coefficient of elasticity is less than 1, then it means demand is inelastic.
