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Sholpan [36]
3 years ago
14

Beef is a normal good. You observe that both the equilibrium price and quantity of beef have fallen over time. Which of the foll

owing explanations would be most consistent with this observation?
A. Consumers have experienced an increase in income, and beef-production technology has improved.
B. The price of chicken has risen, and the price of steak sauce has fallen.
C. New medical evidence has been released that indicates a negative correlation between a person’s beef consumption and life expectancy.
D. The demand curve for beef must be positively sloped.
Business
1 answer:
VARVARA [1.3K]3 years ago
3 0

Answer:

C. New medical evidence has been released that indicates a negative correlation between a person’s beef

Explanation:

The demand for a normal good reacts to price changes as per the law of demand. A reduction in price results in an increased demand for the normal good. If the consumer's income increase, the demand rises.  Normal goods are contrasted by inferior goods whose demand reduces with an increase in consumer's income.

A reduction in equilibrium price and quantity for beef could be caused by an increase in the price of beef, reduced incomes, or negative news concerning beef in the market. From the option available, the news concerning the correlation between life expectancy and beef consumption is most likely to affect demand.  As a normal good, the demand for beef will decrease because consumers will consider it a low-quality product.

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$5000 is put into an empty savings account with a nominal interest rate of 5%. No other contributions are made to the account. w
yawa3891 [41]

Answer:

Interest in 5 years will be $1418.07 which is near about $1420

So option (D) will be correct answer

Explanation:

We have given amount invested, that is principal amount P = $5000

Rate of interest r = 5 %

Time taken t = 5 years

As interest is compounded monthly so rate of interest =\frac{5}{12}=0.416%

And time period n = 12×5 = 60 period

So total amount after 5 year will be equal to

A=P(1+\frac{r}{100})^n

A=5000(1+\frac{0.417}{100})^{60}

A=5000\times 1.2836=6418.07

We have to find the interest

Interest will be equal to = total amount - principal amount = $6418.07 - $5000 = $1418.07

Which is near about $1420 so option (D) will be correct answer

 

8 0
3 years ago
The share of ________ by the top firms is known as the concentration ratio.
Dominik [7]
The share of markets by the top firms is known as the concentration ratio
4 0
3 years ago
If Real GDP increases at an annual rate of 3 percent and velocity increases at a rate of 2 percent per year, then rules-based mo
inn [45]

Answer:

a. 1

Explanation:

Rules-based monetary policy advocats would most likely set the annual money supply growth rate at 1%. The money supply refers to the total value of money that is available in an economy at a particular point in time. This usually includes currency in circulation as well as demand deposits. However, the exact definition of "money supply" can vary depending on the central bank that manages it.

8 0
4 years ago
Most of the property in command economies is owned by who​
ozzi

Answer:

In a command economy an authority such as the government, governmental agency, or central planners decide what to produce, how to produce and to whom goods and services will be allocated.

4 0
3 years ago
Former-ceo kalanick’s question of ""what kind of brand do we want to be?"" represents which stage of the strategic management pr
Orlov [11]

Answer:

Establish the mission and vision and values

Explanation:

When former CEO kalanick’s question of ""what kind of brand do we want to be?", it represents the Establishing the mission and vision and values stage of the strategic management process. Strategic management is the process which involves setting goals and objectives, the analyzing and evaluating the outside and internal environment by evaluating the existed strategies.

Following are the step of strategic management process:

1: Vision and objectives are set.

2: Gathering and analyzing of the information.

3: Strategy formulation in order to attain the set vision and objectives.

4: Implementation of the strategy.

5: Evaluation and Control.

Here in this case, what kind of brand we want to be, represents the setting of the vision, mission and objectives for the brand, putting it simply, setting the direction for the brand, where we want to be, how we want customers to see us.

8 0
3 years ago
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