Suppose That the Demand Curves for Goods A, B, and C

question 1

Multiple Choice

Suppose that the demand curves for goods A, B, and C have the following functional forms:, where Q denotes quantity demanded and P denotes price:
QA = 120 - 3.5PA - 6PB QB = 100 - 2PB + 3PC QC = 1500 - 0.5PC.
Based on these demand curves, which of the following pairs of goods are known to be substitutes?

• A) A and B
• B) A and C, and B and C
• C) B and C
• D) A and C
• E) None of the pairs are substitutes.

Outline the criteria for just punishment according to contemporary theorists.

Trace the historical changes in the attitude towards rehabilitation.

Understand the concept of denouncing criminals and its implications.

Discuss criticisms of just deserts theory.

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Definitions:

Restructuring

The process of organizing a company or its operations differently to increase efficiency or improve profitability, often involving changes in business model, operations, or staff.

Historical Pattern

Trends or sequences in data that have been observed to repeat over historical periods, often used for forecasting and analysis.

Warranty Claims

Requests made by customers for the repair or replacement of products under the terms of a warranty agreement.

AASB 137

The Australian Accounting Standards Board standard that deals with Provisions, Contingent Liabilities, and Contingent Assets.