Answer:
The income effect and substitution effect work in opposite directions and income effect is dominant.
Explanation:
In case of a normal good, both the income effect as well as substitution effect work in the same direction. A fall in the price of a product will increase the purchasing power of the consumer so its quantity demanded will increase.
The consumers will also prefer the cheaper good so the substitution effect will cause the quantity demanded to increase.
In case of an inferior good, however, income elasticity is negative. The income effect and substitution effect work in opposite directions.
A price decrease in the case of an inferior good will increase the real income and purchasing power of the consumer. This will cause the quantity demanded of the inferior good to decline as the consumer will prefer a substitute normal good.
Answer:
d
Explanation:
i just took the test my gee
Answer:
B) The money they saved in the past is worth less in the future
Explanation:
Answer:
B). Contributory negligence
Explanation:
From the question we are informed about Merv Grazinski, who is driving his Winnebago, put it on cruise control to go make coffee. The Winnebago went off the road, turned over several times, and left Grazinski paralyzed from the waist down. He brings a product liability lawsuit against Winnebago. In this case, the best possible defense for Winnebago to use at trial Contributory negligence. Contributory negligence can be regarded as failure of plaintiff to have a tangible care for their own safety. Plantiff compensation could be reduced by Contributory negligence if confirmed that the occurrence of incident is likely as a result of their actions
A news article details the destruction of a recent earthquake. Readers of the article likely to do as result are Overestimate their risk of earthquakes. Thus option A is correct.
<h3>What is Earthquake?</h3>
Earthquakes is referring to a kind of natural disaters which occurs due to the movement of tectonic plates. when these tectonic plates move and collapse with one another results in an earthquake.
When a news article shows destruction related to earthquakes people will most likely analyze their risk from earthquakes and evaluate whether they are safe from them or not.
Therefore, option A is appropriate.
Learn more about Earthquakes, here:
brainly.com/question/1296104
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