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MatroZZZ [7]
1 year 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]1 year 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

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The _____ Act limits the types of assets commercial banks can buy; the amount of capital they must maintain; and the use of deri
Aneli [31]

Answer:

Dodd-Frank Act of 2010

Explanation:

The Dodd-Frank Wall Street Reform and Consumer Protection Act was enacted as stated by its name to change how Wall Street worked (well not only Wall Street, but the financial system) and to specially protect the small investor. It was promoted by Senator Chris Dodd and Representative Barney Frank as a result of the great recession suffered between 2008 and 2010, which was primarily caused by an inefficient and sometimes even corrupt financial system. It is a very long and complex law, but it mainly places strict regulations on lenders, banks and other financial institutions.

6 0
2 years ago
At the beginning of the current year, trenton company inc.'s total assets were $248,000 and its total liabilities were $175,000.
anygoal [31]

The debt ratio is calculated by dividing the Total Liabilities by Total Assets. We are asked to calculate the debt ratio at the end of the year, hence we need to take year-end values for Total Liabilities and Total Assets.

We are given the Total Liabilities at the beginning of the year $175,000 and there is no change in the liabilities given, hence we can say that Total liabilities at the end of the year shall remain same = $175,000

We are given Total Assets at the end of the year are $260,000


Debt ratio = Total Liabilities / Total Assets = 175000/260000 = 0.673


Hence debt ratio at the end of the current year shall be <u>0.673</u>




8 0
3 years ago
The business cycle is: a. the pattern of increases and decreases in the money supply. b. the term used to describe fluctuations
leonid [27]

Answer:

The correct answer is option b.

Explanation:

The business cycle can be defined as the fluctuations in the level of output of goods and services produced in an economy in a year. It is also referred to as the trade cycle.  

The business cycle consists of several stages such as recession, depression, expansion, boom or peak, recovery, etc.

The output level tends to fluctuate around its long term trend.

8 0
2 years ago
What are examples of types of products that are currently being manufactured by joint ventures between the U.S., Canada, Mexico,
choli [55]

Answer:

Uber Taxi

Star Bucks

Tata Global Beverages

Siemens and Nokia

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Explanation:

Joint venture is the business in which there are two or more parties who shares the ownership. The business management may be mutually decided. There are many examples of Joint ventures in the world. Uber Taxi is one of the finest example of joint venture where Volvo vehicles shares the ownership. The joint venture reduces the investment cost for both the parties. The business can be quickly spread in the world by the efforts of two or more parties that form the joint venture.

3 0
3 years ago
DonutVille caters to its retirement population by selling over 10,000 donuts each week. To produce that many donuts weekly, Donu
nata0808 [166]

Answer:Flour should be acquired through a contract.

Explanation: Acquiring flour through a contact will be very important for DonutVille as it will ensure a follow-up and a feedback system where the manager of DonutVille establish a relationship with the company supplying the flour through one of its distributors or agents.

When purchasing of flour is achieved through a contact, it makes the contact a responsible person who will be needed to guarantee the supply of flour on time and to Communicate with the manager of DonutVille should there be any matters arising in the process getting supplies.

8 0
3 years ago
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