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
Darina [25.2K]
3 years ago
5

G.R. Dry Foods Distributors specializes in the wholesale distribution of dry goods, such as rice and dry beans. The firm’s manag

er is concerned about an article he read in this morning’s Wall Street Journal indicating that the incomes of individuals in the lowest income bracket are expected to increase by 10 percent over the next year. While the manager is pleased to see this group of individuals doing well, he is concerned about the impact this will have on G.R. Dry Foods. Please explain what will happen to the price of the products G.R. Dry Foods sells? Why?
Business
1 answer:
slamgirl [31]3 years ago
7 0

Answer:

d. The price will decrease, because dry beans and rice are inferior goods.

Explanation:

the options are missing, so I looked them up:

a. The price will decrease, because dry beans and rice are normal goods.

b. The price will increase, because dry beans and rice are normal goods.

c. The price will increase, because dry beans and rice are inferior goods.

d. The price will decrease, because dry beans and rice are inferior goods.

Inferior goods are those goods whose quantity demanded decreases as consumer income increases. This happens because inferior goods have several substitute products that cost more, but as consumer income increases, consumers will tend to purchase the more expensive substitute goods instead of the cheaper inferior ones. I.e. as consumer income increases, they will seek to purchase higher quality goods, and inferior goods are generally low quality goods that are mostly purchased by people located at the lower socio-economic classes. Other examples of inferior goods are canned meat, instant noodles and cheap frozen foods.

Since the quantity demanded of inferior goods decreases as the economy improves, the demand curve shifts to the left, which will result in a lower equilibrium price.

You might be interested in
A.
Zina [86]

Lo siento, no lo sé, pero espero que lo encuentres pronto.

5 0
2 years ago
If the team leader learns that organizational superiors are unaware of the team’s successes, the leader might initiate an "FYI"
ad-work [718]

Answer:

Advocating

Explanation:

The team leader needs to advocate and represent the team to their organizational superiors (upper management). Sometimes large organizations are too complex and BIG, and lower management has to find a way to make themselves be noticed. For example, he could start writing a newsletter, etc.

8 0
2 years ago
Delta airlines prices its tickets so that it is less expensive to travel between midnight and 5:00
svp [43]
There are different types of pricing strategies: penetration pricing (entering the market with a low price), economy pricing (low marketing and low prices), premium pricing (when the price is higher than the competitors), psychological pricing (example $99, instead of $100), demand-based pricing (based on the demand of the customers).
<span>Delta airlines prices its tickets so that it is less expensive to travel between midnight and 5:00
a.m. than during the day, when there is heavy business travel. this illustrates demand-based pricing.</span>
4 0
3 years ago
How is owner’s equity affected when is paid for expenses?
Kobotan [32]

Answer:

Profit and loss are directly linked to the amount of money the company is spending to run its business -- its operating expenses. So changes in operating expenses naturally affect owner's equity.

4 0
3 years ago
Harry's competitive math team has been ranked the number one team for the past 40 days. His team competes in a math competition
Ray Of Light [21]

Answer:

Answer for the question:

Harry's competitive math team has been ranked the number one team for the past 40 days. His team competes in a math competition at least once per day and competes in no more than 60 competitions in these 40 days. Show that there is some day $i$ and some day $j$ such that between $i$ and $j$, exactly 19 matches have been played.

is given in the attachment.

Explanation:

7 0
3 years ago
Other questions:
  • An Economy That Is Neither Growing Nor Shrinking Is Said To Be In A Period Of
    12·1 answer
  • Two stars have the same color, but differ by 5 magnitudes in absolute magnitude. What stellar property must be different in the
    14·1 answer
  • The Campus Division of All-States Bank has assets of $1,800 million. During the past year, the division had profits of $225 mill
    9·1 answer
  • What improvement tool would you use to identify all possible reasons for the increase in complaints about the HIM department
    9·1 answer
  • Because better weather makes farmland more productive, farmland in regions with good weather conditions is more expensive than f
    7·1 answer
  • Selma operates a contractor's supply store. She maintains her books using the cash method. At the end of the year, her accountan
    14·1 answer
  • Pls sub to my channel ICUsiah​
    10·2 answers
  • Robert a highly successful manager, quit his job in a large retail store so that he could start his own
    7·1 answer
  • “Marketing is Significant for Both Profit and Non-Profit Organizations”Do you agree with this statement? Explain​
    14·1 answer
  • When using the high-low method, if the high or low levels of cost do not match the high or low levels of activity, ______.
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!