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Answer:
the fact that the higher price of Raisin Bran relative to its substitutes, such as Cheerios, causes consumers to buy less Raisin Bran.
Explanation:
the substitution effect arises when as a result of a rise in the price of a good, the good becomes more expensive relative to its substitutes. Consumers not consume less of the good and more of the substitute. This leads to a movement up along the demand curve for that goods and not a movement along the demand curve for the good and not a shift of the demand curve.
If the price of the good increases. The good becomes cheaper when compared with substitutes. As a result, the demand for the good increases while that of the substitutes decreases.
The income effect is when an increase in price lowers consumer's purchasing power, holding money income constant.
Answer:
d. task force
Explanation:
Task force -
It is the combination of people or a unit , which is established in order to work on a specific activity or task .
Similarly in the question ,
the committee is assigned in order to do research for a new product , and as soon as the target or the task assigned to the group is done , it group is resolved .
Answer:
$7.47 million
Explanation:
Given that,
Beginning retained earnings = $2.7 million
Net income earned = $7.6 million
Dividend paid to common stockholders = $2.83 million
Year-end 2008 balance in retained earnings for Z:
= Beginning retained earnings + Net Income - Dividend paid
= $2.7 million + $7.6 million - $2.83 million
= $7.47 million
Answer:
Explanation:
America has an absolute advantage in selling everything, a comparative advantage in selling mobile phones, a comparative advantage in selling tablets in Brazil
so we choose D