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MA_775_DIABLO [31]
3 years ago
14

With only two goods, if the income effect is in the same direction as the substitution effect then the good is ____.

Business
1 answer:
Leya [2.2K]3 years ago
7 0

Answer:

Normal good

Explanation:

Income effect Is change in quantity demanded when the consumers purchasing power change as a result of a change in real income.

Substitution effect is when quantity demanded falls as a result of rise in price of a good which leads consumers to purchase cheaper alternatives.

A normal good is a good whose demand increases as income increases.

If the price of a normal good falls, the real purchasing power of the consumer increases and the consumer buys more of the good. Also, the consumer substituites from more expensive alternative goods to the more cheap normal good. The income and substitution effect both move in the same direction.

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You are in desperate need for cash to pay your water bill so you head to the check-cashing store down the street. They offer to
rodikova [14]

Answer:

1969.6%

Explanation:

The computation of the effective annual rate is given below;

Given that

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3 years ago
The goal of the managers of a publicly owned company should be to maximize the firm’s.
Rainbow [258]

The goal of the managers of a publicly owned company should be to maximize the firm’s common stock value.

<h3>What is a publicly owned company?</h3>
  • A public company, also known as a publicly traded company, publicly owned company, publicly listed company, or public limited company, is a company whose stock is freely listed on a stock exchange or in over-the-counter marketplaces.
  • A public (publicly traded) company may or may not be listed on a stock exchange (listed company), which facilitates share trading (unlisted public company).
  • Public companies of a certain size must be listed on an exchange in some jurisdictions.
  • In most cases, public companies are private enterprises in the private sector, and the term "public" emphasizes their public market reporting and trading.
  • A publicly traded company's managers should strive to maximize the firm's common stock value.

Therefore, the goal of the managers of a publicly owned company should be to maximize the firm’s common stock value.

Know more about the publicly owned companies here:

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7 0
1 year ago
Previn Brothers Inc. purchased land at a price of $26300. Closing costs were $1300. An old building was removed at a cost of $10
Aloiza [94]

Answer:

$38,000

Explanation:

The computation of the cost of the land is shown below:

= Purchase price of land + closing cost + removal cost of an old building

= $26,300 + $1,300 + $10,400

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In order to find out the cost of the land, we simply added the purchase value of land, its closing cost and the removal cost of an old building

3 0
3 years ago
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