Answer:
an increase in equilibrium price and an indeterminate effect on equilibrium quantity.
Explanation:
An inferior good is a good whose demand increases when income falls and reduces when income rises.
If ramen is an inferior good, when income falls its demand would increase. This would lead to a rise in quantity and price.
An increase in the price of wheat would increase the cost of production of ramen. As a result, the supply of ramen would fall. Price would increase and supply would fall.
The combined effect would be an increase in equilibrium price but an indeterminate effect on equilibrium quantity.
I hope my answer helps you
Answer:
The answer is: A) a market in which buying and selling take place at prices that violate government price regulations.
Explanation:
Black markets happen when entities (individuals or businesses) engage in trading of goods and services that are prohibited by the governments. Or when the entities engage in trading activities and do not want to pay taxes from those transactions.
Answer:
The correct answer is to put the two variables in the same type of measure.
Explanation:
To begin with, in order to compare to different variables that are in different measures the correct way to proceed is to put them in the same measure so therefore they will be comparable with each other. Once said that, in this case the person should put the psychological benefits in economics benefits as it is the other variable and in order to do that the person should think of what aspects of his productivity would increase if he takes the vacations and gains the psychological benefits. For example, after getting back from the holidays he may feel himself less stress and more relax and therefore that he may be able to either do more job, more studies or more excercises and all that can impact in an economic way.
Answer:
$94
Explanation:
The computation of the cost of the ending inventory using the FIFO method is shown below:
But before that first we have to determine the ending inventory units which is
= 7 units from A to G + 5 units from H to L + 6 units from M to R
= 18 units
And, 6 units are sold
So, the ending inventory units is 12 units
Now the ending inventory is
From last to beginning
= 6 units × $8.50 + 5 units × $7.50 + 1 units × $5.50
= $51 + $37.5 + 5.50
= $94
This is the answer but the same is not provided in the given options
