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Bezzdna [24]
3 years ago
8

Total consumer spending on milk will a. increase, and total consumer spending on beef will decrease. b. increase, and total cons

umer spending on beef will increase. c. decrease, and total consumer spending on beef will increase. d. decrease, and total consumer spending on beef will decrease.
Business
1 answer:
Vinvika [58]3 years ago
3 0

Answer:

A) increase, and total consumer spending on beef will decrease.

Explanation:

A decrease in the population of dairy cows and beef cattle, will result in a leftward shift of the supply curves for both milk and beef. A leftward shift will result in an increase in price at every quantity demanded.

Since the demand for milk is inelastic, a steep increase in price will result in a smaller decrease in quantity demanded. Since the demand for beef is elastic, a steep increase in price will result in a larger decrease in quantity demanded.

Since the demand for milk is inelastic, an increase in price will result in an increase in total spending. On the other hand, since demand for beef is elastic, an increase in price will result in a decrease in total spending.

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nlexa [21]

SG&A is an initialism used in accounting to refer to Selling, General and Administrative Expenses, which is a major non-production cost presented in an income statement.

Indirect costs are costs that are not directly accountable to a cost object. Indirect costs may be either fixed or variable. Indirect costs include administration, personnel and security costs. These are those costs which are not directly related to production. Some indirect costs may be overhead.

6 0
3 years ago
A fall in real GDP that results in a decrease in personal income tax receipts is an example of​ ______.
lyudmila [28]

Answer:

c. automatic fiscal policy 

Explanation:

Automatic fiscal policy are policies triggered automatically due to the state of the economy which causes either government spending or taxes to increase or decrease.

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These are examples of automatic fiscal policies.

Discretionary fiscal policy is when the government purposely increases or reduces either its spending or taxes in response to the economic conditions.

I hope my answer helps you.

5 0
3 years ago
sales of new homes increased each month of the last year the economy is likely in. recession. expansion a trough or a plummet
olya-2409 [2.1K]
Expansion ..............
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