1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
MatroZZZ [7]
2 years ago
9

if the income elasticity of tomatoes is estimated to approximate 0.25, what would you expect to happen to the consumption of tom

atoes as personal income rises?
Business
1 answer:
Goshia [24]2 years ago
8 0

Tomato consumption will decrease as personal income rises if the predicted income elasticity for tomatoes is 0.25.

A substitute goods is tomatoes.

Similar products that a buyer can employ for the same purpose are substitute items.

So, alternatives for tomatoes and tomato puree are both possible. As tomato prices rise, customer demand also rises. Thus, tomato puree is more widely consumed.

How responsive a given good's quantity demand is to changes in the real income of the consumers who buy it is referred to as "income elasticity of demand."

To know more about substitute goods, click the below link

brainly.com/question/13891240

#SPJ4

You might be interested in
Pushing your body too hard at work or at play can?
photoshop1234 [79]
Damage your body and could possibly make you have health defects...
Even possibly death if you push to hard. It would make you have hard time breathing also.
3 0
3 years ago
Read 2 more answers
Ashley Kreeger is the director of marketing for a company that operates several assisted-living centres. The company is developi
netineya [11]

Answer:

Demographic factor is the correct option.

Explanation:

The demographic variables can affect our business. Demography can be used to know the product's performance and the buying behavior of consumers. It helps companies to identify the key customers. After the identification, they can target these customers with customized advertisements and promotions. It helps the company to maximize its sales.

Income is one demographic variable. A person's income decides his buying habits. People having towards the low end of the salary band tend to buy less expensive products. While those with high salaries tend to buy expensive products. It is an example of a demographic factor.

5 0
3 years ago
The per-unit standards for direct materials are 2 gallons at $4 per gallon. Last month, 12200 gallons of direct materials that a
natali 33 [55]

Answer:

$7,200 favorable

Explanation:

The computation of the material quantity variance is shown below:

= Standard Price × (Standard Quantity - Actual Quantity)

= $4 per gallon × (2 gallons × 7,000 units - 12,200 gallons)

= $4 per gallon × (14,000 - 12,200 gallons)

= $4 per gallon × 1,800 gallons

= $7,200 favorable

All other information which is given is not relevant. Hence, ignored it

4 0
4 years ago
Roger is currently in the hospital, having been diagnosed with terminal cancer. Roger would like Kim, a close friend, to make an
Kisachek [45]

Answer:

The correct answer is letter "E": a durable power of attorney.

Explanation:

A power of attorney is a document stating another party is legally right to act on an individual's behalf. As soon as the individual is capable to handle business, the power of attorney loses validity.  

A durable power of attorney, instead, is used when the individual delegating power to another party has knowledge of being impaired soon and possibly is not going to recover. Thus, the durable power of attorney will be valid since the individual cannot handle business until the moment of his or her decease. During that time, the selected party is right to make health and finance decisions on behalf of the individual.

5 0
3 years ago
A schedule of cash receipts is often prepared in conjunction with the sales budget.
slega [8]

The given statement is false

Explanation:

A scheduled cash budget is not often prepared in conjunction with the sales budget and this shows the pattern in which the cash must be collected from the sales budget and this is mainly based on the previous collection pattern

In the sales the amount is collected only after the sales period ends and the cash receipts is most often prepared in conjunction with the pattern in which the previous sales was collected

5 0
4 years ago
Other questions:
  • A company is suffering sales setbacks because a competitor has launched an identical product in the market. The company decides
    15·1 answer
  • When joan got transferred to a new city, she went there ahead of the rest of her family and independently shopped for and purcha
    5·1 answer
  • Ludwig Company's prepaid rent was $9,500 at December 31, 2020, and $15,000 at December 31, 2021. Ludwig reported rent expense of
    15·2 answers
  • The company's adjusted trial balance as follows includes the following accounts balances:
    14·1 answer
  • A credit card company wants your business. If you accept their offer and use their​ card, they will deposit ​% of your monetary
    5·1 answer
  • Bob and Cindy are the same age. At age 25 Cindy began saving $2,000 a year while Bob saved nothing. At age 50, Bob realized that
    10·1 answer
  • If bonds with a face value of $ 206 comma 000are issued at 109​,the amount of cash proceeds is​ ________.
    6·1 answer
  • Just before the outbreak of the Corona virus you bought a stock expected to pay a constant dividend (without growth) once every
    14·1 answer
  • Imagine you want to become a chef and restaurant owner. What education and
    14·2 answers
  • The goal of operations management is to produce a good or service at the highest possible cost while maintaining the lowest poss
    15·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!