The law of demand states that: a. consumers will exhaust their incomes as they purchase goods and services at given absolute prices.
b. the quantity demanded of a good is higher at a lower relative price than at a higher relative price.
c. there is a direct positive relationship between relative price and quantity demanded.
d. if the price of a good increases both relatively and absolutely, there will be no change in quantity demanded.

Your aunt is thinking about opening a hardware store. she estimates that it would cost $300,000 per year to rent the location and buy the stock. in addition, she would have to quit her $45,000 per year job as an accountant. a. define opportunity cost. b. what is your aunt's opportunity cost of running a hardware store for a year? if your aunt thought she could sell $350,000 worth of merchandise in a year, should she open the store? explain.

Which of these is an example of innovation?

Describe how to write a main idea expressed as a bottom-line statement