Economics Today: The Micro View (18th Edition)
18th Edition
ISBN: 9780133885071
Author: Roger LeRoy Miller
Publisher: PEARSON
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Question
Chapter 3, Problem 7P
To determine
Identify which of the following would generate an increase in the market
a) A decrease in the income of consumers of tablet devices
b) An increase in the
c) An increase in the price of online apps, which are complements
d) An increase in the number of consumers in the market for tablet devices
Content information:
Demand refers to the quantities of goods and services that are bought at certain prices during a given period of time.
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Hello Professor,
A rise in consumption in the economy would cause an increase in aggregate demand. Therefore, when consumers spend money on everyday goods and services, it not only helps to stimulate economic growth, but it could also present potential issues like unsustainable debt levels or inflation. I believe that it would be beneficial to consider such factors and adopt a purchasing strategy to help navigate the challenges posed by inflation or unsustainable debt levels.
First, do you think our business will be affected because inflation is rising? How?
Yes, I do believe that the business will be affected because of inflationary pressures. Inflation rising will affect the cost of goods, services, and labor, which could lead to higher operating expenses. The potential reduction of profit margin because of inflation could lead to a smaller percentage of revenue being retained as profit. Therefore, inflation rising will force us to raise prices for…
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Economics Today: The Micro View (18th Edition)
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