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pshichka [43]
3 years ago
15

Which of the following describes an inferior​ good? A. When consumer income​ increases, the demand for tea increases. B. When co

nsumer income​ decreases, the demand for public transit decreases. C. When consumer income​ increases, the demand for eggs decreases. D. When consumer income​ decreases, the demand for aspirin is unchanged.
Business
2 answers:
MakcuM [25]3 years ago
6 0

Answer:

C. When consumer income​ increases, the demand for eggs decreases.

Explanation:

Inferior goods is the type of good which demand does not increase even though the initial buyer experience an increase in purchasing power.

The reason for this is because that consumer choose to<u> purchase another product that he/she couldn't afford</u> before having an increase in income.

This 'other' product tend to be more expensive and higher in quality compared to the previous one. This is why the word 'inferior' is attached to the previous product.

From the example above, the reason why the demand for the eggs does not increase is most likely happen because the consumer choose to purchase higher quality of food. (such as a more expensive meat)

Leviafan [203]3 years ago
4 0

Answer:

C. When consumer income​ increases, the demand for eggs decreases

Explanation:

An inferior good is an economic term used to describe products and services whose demand is inversely proportional to the people's income. As consumer's income increase, the demand for inferior goods decreases. Improvements in economic conditions in a country also make the demand for inferior goods to decrease.

Inferior goods are associated with consumers in the lower-income groups. Should their income increase, they will prefer more costly products. The term inferior goods is a purely economic term and have nothing to do with the quality aspects of a product.

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viva [34]

Answer:

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Explanation:

The exact entry Drake Builders Company has to record in its accounting book for the proceeds received from the issuance of the note is:

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As at the time the note is issued, no interest expenses has been incurred, all the answer with Interest expenses can be eliminated.

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3 years ago
In​ _______, there are generally only a few large suppliers or sellers of a product or service.
Troyanec [42]
There are four types of market structures namely; perfect competition, monopoly, monopolistic competition and oligopoly. Perfect competition is where large number of small firms  compete with each other with a homogeneous product. In a monopoly market there is only one producer of a given product who determines the price of the product. In monopolistic competition the market combines the aspect of monopoly and perfect competition. In this case, In Oligopoly there are a few suppliers or sellers of a particular product.
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3 years ago
n June, one of the processing departments at Football Corporation had beginning work in process inventory of $12,700. During the
Andru [333]

Answer:

$34,700

Explanation:

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Using this formula

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2 years ago
When citibank repays a loan it had previously taken from the fed, it the money supply?
Naya [18.7K]

The money supply decreases when Citi Bank repays a loan they had previously taken from the Fed. The money supply within Citi Bank decreases because they no longer have the money as they have paid it back to the Fed. The Fed's supply of money then increases.

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3 years ago
TMS just paid an annual dividend of $2.84 per share on its stock. The dividends are expected to grow at a constant rate of 1.85
bija089 [108]

Answer:

$41.39

Explanation:

Data provided in the question:

Annul Dividend paid, D0 = $2.84 per share

Growth rate, g = 1.85% = 0.0185

Rate of return required, r = 10.4% = 0.104

Now,

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= [ $2.84 × (1 + g)¹²] ÷ [ r - g]

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