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Ike and Nancy Lara give western dance lessons at the Elk's Lodge on Sunday nights. The lessons cost $3.00 for members of the lodge and $4.00 for nonmembers. Half of the money collected for the lesson is paid to Ike and Nancy. The Elk's Lodge keeps the other half. One Sunday night Ike counts 40 people in the dance lesson. What is the least amount of money Ike and Nancy will make?
Demand Curve
A graph showing the relationship between the price of a product and the quantity of the product that consumers are willing and able to purchase at different prices.
Consumer Incomes
The financial resources available to consumers, influencing their ability to purchase goods and services.
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A type of salsa made with chipotle peppers and corn, often served as a condiment or side dish.
Macroeconomic Environmental Factor
External influences that affect the overall economy and economic conditions, impacting businesses and consumers alike, such as inflation, interest rates, and economic growth.
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