Answer:
increase in output, but not in the equilibrium price of the product.
Explanation:
The options weren't provided. The full question can be found here - https://www.chegg.com/homework-help/questions-and-answers/perfectly-competitive-industry-x-constant-costs-product-inferior-good-industry-currently-l-q39354625
An inferior good is a good whose demand increases when income falls and whose demand falls when income rises.
When average income falls, the demand for good X rises. The level of output increases as a result of the rise in demand but price doesn't change.
I hope my answer helps you.
Answer:
0.75
Explanation:
Four firm concentration: Share of four firms / Total market share
Four firm share: 40 + 20+10+5
= 75
CR = 75/100
= 0.75 or 75 %
Answer:
D. Efficiency in arranging transactions.
Explanation:
in a barter system, it is difficult to determine how much something would cost. If I am raising corn and you are raising cabbage, how much corn equals one head of cabbage? It is difficult to come to fair trade terms. With a monetary system, it is much easier to set a price and make a trade because everyone is using a common trading instrument.
Answer:
c. $107,600 taxable income: $23,672 tax liability.
Explanation:
Taxable Income calculation:
Taxable Income beginning $90,100
Add: gain on sales on Wal-Mart stock $13,000
Less: Loss on sale of PG&E stock $7,000
Add: Gain on Cisco common stock $11,500
Taxable Income at end $107,600
