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ruslelena [56]
3 years ago
15

The price of compact fluorescent light bulbs fell because of improvements in production technology. As a result, the demand for

incandescent light bulbs decreased. This caused the price of incandescent light bulbs to fall; as the price of incandescent light bulbs fell the demand for incandescent light bulbs decreased even further. Evaluate this statement.
Business
1 answer:
elena-s [515]3 years ago
3 0

Answer:

The answer is:

This statement is false. Fluorescent light bulbs (FLB) and incandescent light bulbs (ILB) are substitute goods, so a decrease in the price of one of them (FLB) should increase the quantity demanded for that product (FLB) and decrease the quantity demanded of the other (ILB).

A decrease in the price of any product (including ILB) would never decrease its quantity demanded.

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In 2021, Carson is claimed as a dependent on his parents' tax return. His parents report taxable income of $200,000 (married fil
serg [7]

Carson's tax liability for 2021 as a 23-year full-time student, who earns from the summer internship and part-time job and receives a qualified dividend is $645.

<h3>What is tax liability?</h3>

Tax liability refers to the amount that a taxpayer is obliged to pay.

The tax liability is a function of the taxpayer's taxable income, tax bracket, deductions, and applicable tax rate.

In this case, we have assumed a flat tax rate of 10% for both Carlson's earned income and the dividend income.

<h3>Data and Calculations:</h3>

Earned income = $14,000

Qualified Dividend income = $5,000

Adjusted taxable income = $6,450 ($19,000 - $12,550)

Tax liability = $645 ($6,450 x 10%)

Thus, Carson's tax liability for 2021 is $645.

Learn more about tax liabilities at brainly.com/question/7409145

4 0
2 years ago
How much would it cost to buy 20 apples for 40 cents each?
Setler [38]
20 x 40c = $8 or 800c
6 0
4 years ago
1.14 When the wages per worker in the metal-working industry increases, the supply curve of
yuradex [85]

Answer:

false it will shift to the left

6 0
3 years ago
What would happen to the equilibrium price and quantity for llama sculptures as a result of the price decrease of the porcelain
chubhunter [2.5K]

The equilibrium price and quantity for llama sculptures would fall as a result of the price decrease of the porcelain sloths. Being that they are substitute goods, a fall in price of the sloths would lead to a decrease in the demand for the llama sculptures.

An equilibrium price, additionally known as a market-clearing charge, is the consumer price assigned to some product or service such that deliver and call for are equal, or close to identical. The manufacturer or vendor can promote all the devices they want to transport and the consumer can get right of entry to all the units they need to shop for.

What's equilibrium price and demand?

The equilibrium price is in which the supply of goods fits call for. when a chief index stories a duration of consolidation or sideways momentum, it may be said that the forces of deliver and call for are fantastically equal and the market is in a nation of equilibrium.

What's particular approximately an equilibrium price?

An equilibrium price is particular due to the fact it's far the only charge at which amount demanded and quantity furnished are same. it's miles the price that corresponds with the intersection of the supply and call for curves.

What's the maximum essential characteristic of the equilibrium price?

The most critical function of the equilibrium price is that it: clears the market, leaving neither a surplus nor a scarcity.

Learn more about equilibrium price here:- brainly.com/question/22569960

#SPJ4

5 0
2 years ago
As discussed in the chapter "Why Poor Countries are poor" from Harford's book, The Undercover Economist, which of the following
atroni [7]

Answer:

The correct answer is (B)

Explanation:

The correct answer is (B)

Because, According to Mancur Olson's theory of dictatorships in poor countries, stable dictatorships cause less economic harm than unstable dictatorship

6 0
3 years ago
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