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Pie
4 years ago
12

If rice is an inferior good: a. the income elasticity of demand for rice will be positive. b. an increase in income will cause t

he demand curve for rice to shift to the left. c. an increase in income will cause consumers to buy more rice at the current market price. d. a reduction in income would not affect the demand for rice, but it would increase the quantity demanded.

Business
1 answer:
tatuchka [14]4 years ago
3 0

Answer: The answer is b -an increase in income will cause the demand curve of an inferior good to shift to the left.

Explanation: An inferior good is a good whose demand reduces as income increases. It's demand has an inverse or negative relationship with income. Therefore as the income of the individual increases, the demand for an inferior good reduces. On a graph, the reduction in demand is depicted by an inward shift of the demand curve or a shift of the demand curve to the left to show a reduction in demand. Income is one of the factors that leads to a shift in the demand curve. The income elasticity would be negative

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Sustainable development refers to _____. a. economic activities that do not threaten the environment b. an increase in the numbe
azamat

Answer:

A

Explanation:

The Brundtland Report defines Sustainable development as "development that meets the needs of the present without compromising the ability of future generations to meet their own needs."

8 0
3 years ago
I want to know about starting my own business or franchise can you help me get started thsnk you. Dennisomalley
Harrizon [31]

A franchise business can be started with purchasing a franchise rights, these rights are usually sold by chain businesses however there are some small businesses who also provide franchise.

<h3 /><h3>What is a Franchise?</h3>

A franchise is a legal right to run the operations of a business under the same name, however there are some factors that needs to be maintained these factors are mentioned in the agreement and must be met by the franchisee at all times.

In return for the franchise there is a lump sum payment which entitles the acquirer/ franchisee for the use of legal name of that business, also these rights are for a certain number of years.

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When starting a new business it is recommended that a franchise is acquired if they have no past experience of the business.

Learn more about Franchise at brainly.com/question/27158354

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5 0
2 years ago
Cool Sky reports the following costing data on its product for its first year of operations. During this first year, the company
Monica [59]

Answer:

$91

Explanation:

Given the following information,

Direct materials per unit = $54

Direct labor per unit = $20

Variable overhead per unit = $6

Fixed overhead for the year = $462,000

For Absorption costing method, it includes all costs associated with production, including fixed and variable cost. The unit product cost is calculated using direct material, direct labor and total unitary manufacturing overhead.

Unitary cost = (Fixed overhead for the year / Units produced) + Direct materials per unit + Direct labor per unit + Variable overhead per unit

Unitary cost = ($462,000 / 42,000) + $54 + $20 + $6

Unitary cost = $11 + $54 + $20 + $6

Unitary cost = $91

Therefore, the product cost per unit is $91

5 0
3 years ago
Suppose that for each one-percentage-point increase in the interest rate, the level of investment spending declines by $1 billio
elixir [45]

Answer:

We expect investment spending to increase by $ 1 billion

Explanation:

If investment decreases by $ 1 billion if a 1 % change is made then that is sensitivity of investment to change in interest rate. Thus if there is a 1 % reduction in interest rate we expect to see a $ 1 billion increase in spending if this holds true.

5 0
3 years ago
_____________ is by far the most popular target for american franchisors seeking to establish franchises in other countries.
Ostrovityanka [42]
Canada is by tar the most popular target for american franchisors seeking to establish franchises in other countries. Canada is a great market for franchisors because it's close/easy to travel to. They have a large market and are similar to the U.S. with their expansion and growth as an economy. 
8 0
4 years ago
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