Business, 12.04.2021 21:40 SassyBanana

When the price of a product falls for a normal good, the a. substitution effect will encourage consumers to purchase more of the product, and the income effect will encourage them to purchase less.
b. income and substitution effects will encourage consumers to purchase more of the product.
c. income and substitution effects will encourage consumers to purchase less of the product.
d. substitution effect will encourage consumers to purchase less of the product, and the income effect will encourage them to purchase more.

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 09:50

The returns on the common stock of maynard cosmetic specialties are quite cyclical. in a boom economy, the stock is expected to return 22 percent in comparison to 9 percent in a normal economy and a negative 14 percent in a recessionary period. the probability of a recession is 35 percent while the probability of a boom is 10 percent. what is the standard deviation of the returns on this stock?

Answers: 2

Answer

Business, 22.06.2019 10:30

You meet that special person and get married. amazingly your spouse has exactly the same income you do 47,810. if your tax status is now married filing jointly what is your tax liability

Answers: 2

Answer

Business, 22.06.2019 19:30

Oz makes lion food out of giraffe and gazelle meat. giraffe meat has 18 grams of protein and 36 grams of fat per pound, while gazelle meat has 36 grams of protein and 18 grams of fat per pound. a batch of lion food must contain at least "46,800" grams of protein and 70,200 grams of fat. giraffe meat costs $1/pound and gazelle meat costs $2/pound. how many pounds of each should go into each batch of lion food in order to minimize costs? hint [see example 2.]

Answers: 1

Answer

Business, 22.06.2019 20:20

Xinhong company is considering replacing one of its manufacturing machines. the machine has a book value of $39,000 and a remaining useful life of 5 years, at which time its salvage value will be zero. it has a current market value of $49,000. variable manufacturing costs are $33,300 per year for this machine. information on two alternative replacement machines follows. alternative a alternative b cost $ 115,000 $ 117,000 variable manufacturing costs per year 22,900 10,100 1. calculate the total change in net income if alternative a and b is adopted. 2. should xinhong keep or replace its manufacturing machine

Answers: 1

Answer

You know the right answer?

When the price of a product falls for a normal good, the a. substitution effect will encourage co...

Questions