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juin [17]
3 years ago
14

Jim recently graduated from college. His income increased dramatically;from$5000 a year to $60,000 a year. Jim decides that inst

ead of using the bus, he would buy a car. This implies that a. ​The car is an inferior goods for Jim b. ​The bus and the car are complementary for Jim c. ​Need information on the price of cars d. ​The car is a normal goods for Jim
Business
1 answer:
weeeeeb [17]3 years ago
4 0

Answer: d. ​The car is a normal goods for Jim

Explanation: if an individual's income goes up by a certain percentage or amount and, in response, the quantity demanded of good rises by rises in response to the income increase, such good can be considered a normal good. It is also defined as such good for which the income elasticity of demand is positive but less than one. This is the same scenario that has happened with Jim. His demand for better automobile increased as a result of an increase in his income.

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$1.35 per share

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Note: See the attached excel file for the calculation of the weighted shares outstanding.

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Consider a town in which only two residents, Kevin and Maria, own wells that produce water safe for drinking. Kevin and Maria ca
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Answer:

Monopolist profit maximizing price

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B. $2.5 per gallon . Kelvin's profit =$450 Maria's profit = 337.5

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Cournot Nash equilibrium

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