All categories

3 years ago

For a normal good, an increase in consumer income will cause the market demand for the product to:

Business

1 answer:

elixir [45]3 years ago

8 0

Answer:

d. increase, which is a shift to the right of the demand curve.

Explanation:

A rise in consumer's income increases the demand for a normal good. In other words, as people's income increase, the consumption of normal goods goes up. Consumers consider a normal good as a product or service with high utility value.

The demand curve shows the relationship between price and demand for a commodity. A change in price causes movement along the demand curve. When demand changes, the demand curves shift its position in the graph. The demand curve will shifts to the right if the demand increases. A decrease in demand is when less of a commodity is ordered and causes the demand curve to shift inwards or to the left.

You might be interested in

Lucky lou has just won the lottery and will receive an annual payment of $100,000 every year for the next 20 years. if the annua

olga nikolaevna [1]

PV = A*[1-(1+r)^-n]/r

A = annual payment = $100,000
r = Interest rate = 8% = 0.08
n = Number of year = 20
PV = present value of the earnings

Therefore,
PV = 100,000*[1-(1+0.08)^-20]/0.08 = $981,814.74

4 0

3 years ago

What is the main purpose of monetary policies?

beks73 [17]

I think it is d for this question

6 0

3 years ago

Read 2 more answers

A company has beginning inventory of 10 units at a cost of $10 each on February 1. On February 3, it purchases 20 units at $12 e

Gre4nikov [31]

Answer:

b) $124

Explanation:

FIFO means first in, first out. Under this principle, goods that were purchased or produced earlier will be the first ones on sale.

The value of the goods sold in our case will be as follows.

The first ten items @ $10: 10X10 =$100

Two items to make [email protected] $12: 2x12=$24

Total cost: $100+$24= $124

7 0

3 years ago

1. Should you have a separate checking and saving account?

iris [78.8K]

Back when interest rates were high, I had just one account. I had a money-market checking account that offered good interest rates and unlimited check writing. But those days are long gone.

I want as high an interest rate as I can get for my savings. In order to get those rates, I am using a money-market savings account. All such accounts I’ve seen restrict the number of transactions I can make in a month. I need to be able to pay bills, no matter how many of them there are — and I never ever want to pay fees for excess transactions!

So I have a separate checking account. It pays less than half the interest rate of my savings account, but I can make as many transactions as I want. The bank offers a bill pay application that I use for most payments, and I can write as many checks as I want to. I can transfer money between the accounts quickly.

5 0

2 years ago

Which of the following scenarios would result in a decrease in the wage rate of solar panel installers and a decrease in the qua

Digiron [165]

Answer:

Wages of solar panel installers increase in another town and attract workers away from Billy's town.

Explanation:

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.

7 0

3 years ago