Ask Question
BusinessBusiness
6 November, 09:39

If caviar prices doubled, while sales of caviar rose 20%, this example would definitely refute the law of demand. A. TrueB. False

+4
Answers (1)
  1. 6 November, 09:41
    0
    Answer: False

    Explanation:

    The law of demand says that if the price of a commodity increases then its quantity demanded decreases and vice versa. In this question, the price is increase and the sales are also increasing, if all the other factors are constant then this is definitely refuting the law of demand but as the information about other factors is not given, we can not say that this example is definitely refuting the law of demand.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “If caviar prices doubled, while sales of caviar rose 20%, this example would definitely refute the law of demand. A. TrueB. False ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Jeremy is on the office space improvement team and thinks the most recent idea his teammates have come up with will not work. What is the best way he could communicate his thoughts to his teammates? A.
Answers (1)
Marin Company's accounts receivable arising from sales to customers amounted to $131000 and $114000 at the beginning and end of the year, respectively. Income reported on the income statement for the year was $498000.
Answers (1)
Cost pools should be charged to responsibility centers by using: budgeted amounts of allocation bases because the cost allocation to one responsibility center should influence the allocations to others. some other approach.
Answers (1)
The overall cycle time in the buying process has been reduced due to:
Answers (1)
If the average job performance rating of the new hires of a firm (PR) is 4.0 on a 5.0 scale, the percentage of new hires reaching acceptable productivity with acceptable timeframe (HP) is 70%, the percentage of new hires retained after one year (HR)
Answers (1)
New Questions in Business
After committing to take a job offered by Acme Engineering brokered by the Career Center, a young engineer graduate is tempted to decommit and take a job offer from Nexus Industries.
Answers (1)
If Tommy started work at 7 a. m. and left at 2:45p. m., how many hours should he record for the day on his time card?
Answers (2)
Annuity payments are assumed to come at the end of each payment period (termed an ordinary annuity). However, an exception occurs when the annuity payments come at the beginning of each period (termed an annuity due).
Answers (1)
Areas set up to attract foreign investments by allowing the iportation of raw and intermediate materials without paying tariffs are called
Answers (1)
The Wheeler-Lea Act empowered the FTC to regulate the advertising of food and drugs. It declared all misleading, unfair, or deceptive practices to be illegal, regardless of injury to competition. a. True b. False
Answers (1)
Home » Business » If caviar prices doubled, while sales of caviar rose 20%, this example would definitely refute the law of demand. A. TrueB. False
Sign Up Forgot Password?