By Drawing a Demand Curve with Price on the Vertical

question 35

Multiple Choice

By drawing a demand curve with price on the vertical axis and quantity on the horizontal axis,economists assume that the most important determinant of the demand for a good is

• A)consumer income.
• B)consumer tastes and preferences.
• C)the price of the good.
• D)the quality of the good.

Understand the impact of automated service technologies on cost structures.

Identify and analyze the fallacies in cost accounting and decision-making.

Calculate per order costs in different service scenarios.

Understand the concept of opportunity cost and how to calculate it.

---

Definitions:

Organic Wastes

Biodegradable material that comes from plants or animals and can be broken down by other living organisms.

Oxygen

A chemical element, represented by the symbol O, essential for most life forms' respiration and is a component of air.

Oxygen-demanding Waste

Wastes, typically organic in nature, that reduce the amount of dissolved oxygen in water as they decompose, affecting aquatic life and water quality.

Water-soluble

A characteristic of substances that can dissolve in water, making them capable of being transported or utilized in various biological and environmental processes.