suppose+for+a+particular+commodity, +ε+=+.5+and+that+currently+40,000+u nits+are+selling+for+$+6+each.+how+ does+a+1+%+increase+in+the+price+af fect+the+revenue?

According to the law of demand, there is an inverse relationship between price and quantity demanded. that is, the demand curve for goods and services slopes downward. why?

Sye chase started and operated a small family architectural firm in 2016. the firm was affected by two events: (1) chase provided $25,000 of services on account, and (2) he purchased $2,800 of supplies on account. there were $250 of supplies on hand as of december 31, 2016. record the two transactions in the accounts. record the required year-end adjusting entry to reflect the use of supplies and the required closing entries. post the entries in the t-accounts and prepare a post-closing trial balance.

As more people migrated west during the gold rush, what do you think happened to the demand curve in most western markets, holding all else constant? a. there was no shift, nor any increase or decrease in quantity demanded. b. there was no shift, but there was a decrease in quantity demanded. c. the demand curve shifted to the left. d. the demand curve shifted to the right. e. there was no shift, but there was an increase in quantity demanded.