The law of demand states that:
a. a decrease in supply of a good will lead to a decrease in demand for that good.
b. an increase in the price of a good will lead to a decrease in consumer demand, and a decrease in the price of a good will lead to an increase in consumer demand.
c. an increase in supply of a good will lead to a decrease in demand for that good.
d. an increase in income will lead to a decrease in demand, and a decrease in income will lead to an increase in demand.

Suppose a ceiling fan manufacturer has the total cost function c(x) = 48x + 1485 and the total revenue function r(x) = 75x. (a) what is the equation of the profit function p(x) for this commodity? p(x) = (b) what is the profit on 35 units? p(35) = interpret your result. the total costs are less than the revenue. the total costs are more than the revenue. the total costs are exactly the same as the revenue. (c) how many fans must be sold to avoid losing money? fans

Read the following paragraph, and choose the best revision for one of its sentences. dr. blake is retiring at the end of the month. there will be an unoccupied office upon his departure, and it is big in size. because every other office is occupied, we should convert dr. blake’s office into a lounge. it is absolutely essential that this issue is discussed at the next staff meeting. (a) because every other office is occupied, it’s recommended that we should convert dr. blake’s office into a lounge. (b) because every other office is filled, we should convert dr. blake’s office into a lounge.

Abond purchased for $950 was sold for $980 after one year. the interest received during the year is $25. the bond's yield is: