Answer: quantity demanded of Packers tickets decreased.
Explanation:
First and foremost, we should note that normal goods are the goods that when the income of an individual rises, the individual will buy more and in a case whereby the income reduces, the person will buy less.
Therefore, during recession when people's incomes decreased, the quantity demanded of Packers tickets decreased as well
Answer:
I dont really know i nee the points tho sorry hope you find help
Explanation:
As a person becomes more educated, the person may gain more money while working or applying to jobs and will gain more knowledge of their surroundings.
Answer:
Total utility is 50
Explanation:
Mathematically;
TU = U1+MU2+MU3+MU4+MU5
TU = Total utility
U1= utility of 1st product of good Y
MU2= Marginal utility of 2nd product of good Y.............
MU5= Marginal utility of 5th product of good Y
Solution:
TUy= 15+15+10+7+3
TUy= 50.
Equilibrium price will fall; equilibrium quantity will fall.
What does Equilibrium price mean?
An Equilibrium price, also known as a market-clearing price, is the consumer cost assigned to some product or service such that supply and demand are equal, or close to equal.
The manufacturer or vendor can sell all the units they want to move and the customer can access all the units they want to buy.
What is Equilibrium quantity?
Equilibrium quantity is when there is no shortage or surplus of a product in the market.
Supply and demand intersect, meaning the amount of an item that consumers want to buy is equal to the amount being supplied by its producers.
Learn more about Equilibrium price and quantity here:
brainly.com/question/28182532
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