1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
s2008m [1.1K]
3 years ago
9

Which of the following events would cause both the equilibrium price and equilibrium quantity of number two grade potatoes to in

crease if number two grade potatoes are an inferior good? a. an increase in consumer income b. a decrease in consumer income c. greater government restrictions on agricultural chemicals d. fewer government restrictions on agricultural chemicals
Social Studies
1 answer:
Pepsi [2]3 years ago
6 0

Answer:

The correct answer is option b.

Explanation:

If number two grade potatoes are an inferior good, a decrease in the consumer income will cause its equilibrium price and quantity to increase.  

Inferior goods have negative income elasticity, this implies that their demand is inversely related to change in income.  

So, a decrease in income will increase the demand for two grade potatoes. This will cause the demand curve to shift to the right. This rightward shift in the demand curve will increase both the equilibrium quantity as well as the equilibrium price.

You might be interested in
Why did cartoonist thomas nast portray boss william tweed is a vulture feeding on the city of new york?
Orlov [11]
William Magear "boss" Tweed is a corrupt representative who defrauds millions of dollars from New Yorkers. He and his peers in the Democratic Party in New York exploit their power in the government for personal gain. As a civil reformer and a cartoonist, Thomas Nast portrays William Tweed as a vulture who preys on New Yorkers. 
4 0
3 years ago
Read 2 more answers
Appomattox court house was the site of one of the worst battles of the civil war. true or false user: the monitor defeated the m
kotykmax [81]
The first statement is FALSE


<span>The Battle of Appomattox Court House, fought on the morning of April 9, 1865, was one of the last battles of the American Civil War.
</span>
The second statement is FALSE

The Monitor and the Merrimac were indeed ironclad Civil War warships that fought in the Battle of <span>Hampton Roads but neither of them won.
</span>
I hope my answer has come to your help. God bless and have a nice day ahead!

5 0
3 years ago
If Debra turns down the full-time position at Burger Hut, what is the most reasonable economic explanation for her decision?
olga2289 [7]

The most likely reason for any person turning down a full-time job is money.

It is more likely than not that Burger Hut was unable to provide compensation for Debra's services at a rate that a. Debra felt appropriate or b. Debra felt was necessary to make accepting the job worthwhile.

For instance, if Debra lived far away from the Burger Hut than any job would need to pay enough to partially cover the cost of her commute in addition to living and (hopefully) saving money.

6 0
3 years ago
Read 2 more answers
What are the Uses of Gold and diamond
Helga [31]
They are worth something, diamond is worth the most
3 0
3 years ago
Read 2 more answers
What are 2 things that characterize the practice of science ​
Naddik [55]

Answer:

The Communtity Consensus,and the use of the Empirical Evidence.

6 0
3 years ago
Other questions:
  • Zach, a 20-year-old, adopts sublimation as a defense mechanism. he has a keen interest in poetry. he wants to pursue a career in
    13·2 answers
  • What is the meaning of the word Jihad in Islam? Select two distinct sects of Islam and explain key differences/similarities in t
    5·1 answer
  • The Bible attempts to prove God's existence.<br> True<br> False
    10·1 answer
  • What is a technological solution that allows publishers to control their digital media to discourage, limit, or prevent illegal
    8·1 answer
  • Why were Americans most likely willing to accept such a large growth of the federal government?
    9·1 answer
  • Which of the following is true of the Digital Revolution? Group of answer choices
    13·1 answer
  • How were Judeo-Christian views and Greco-Roman views similar?
    10·1 answer
  • The head of Canada's government is a
    5·1 answer
  • How does the Gold Rush impact the United<br> States?
    12·2 answers
  • The state of having inconsistent thoughts, attitudes, or beliefs is called.
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!