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Likurg_2 [28]
2 years ago
7

When John first starts his job, he rides the bus wherever he goes. However, after one year, John receives a promotion and a pay

raise, leading to an increase in his annual income. As a result of his pay raise, John decides to drive wherever he goes instead of riding the bus. This behavior would indicate that to John, a bus ride is a(n)_________good.a. ceteris paribus b. complementary c. Inferior d. normal
Business
1 answer:
bulgar [2K]2 years ago
5 0

Answer:

<em>An inferior good</em>

<em></em>

Explanation:

<em>An inferior good is a good whose demand decreases with consumer's increase in income</em>. John's increase in pay, that came with his promotion, triggered John to switch to driving everywhere he goes instead of riding the bus. This is because John feels that riding the bus is no longer fit for him, now that he could readily afford driving around in the stead of taking the cheaper bus ride.

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"The type of retirement plan that gives the employer flexibility as to the amount contributed annually is a(n):"
Veseljchak [2.6K]

Answer:

SEP-IRA

Explanation:

It's a retirement savings plan made by employers including people that are self-employed for the benefit of their employees and themselves. The employer may make tax-deducible contributions for certain employees towards their SEP-IRA    

4 0
3 years ago
Which is the best answer
Ipatiy [6.2K]
The answer would be between A and D.
3 0
3 years ago
​kellogg's begins to sell its cereals in new markets after conducting extensive marketing research. after the cereal begins to a
Dafna11 [192]
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7 0
3 years ago
2 brothers, Joe and Bob get equal dollar amounts of securities as a gift. Joe immediately sells his securities and deposits the
raketka [301]

Answer:

Opportunity cost

Explanation:

The opportunity cost Bob's brother Joe $20,000. Remember, the term Opportunity cost refers to the cost (loss in this context) incurred when one forgoes an alternative best option–holding them in a brokerage account, in place for a less beneficial one.

Thus, Bob chose the best alternative over his brother.

8 0
3 years ago
Suppose the price of widgets rises from $5 to $7 and consumption of widgets falls from 25 widgets a month to 15 widgets. Calcula
Tamiku [17]

Answer:

1

Unitary elastic

Elasticity of demand is unitary elastic because the absolute value of elasticity is equal to 1.

Explanation:

Elasticity of demand measures the responsiveness of quantity demanded to changes in price.

Elasticity of demand = percentage change in quantity demanded / percentage change in price

Percentage change in quantity demanded = (25 - 15) / 25 = 0.4 × 100 = 40%

Percentage change in price = ($5 - $7) / $5 = 0.4 × 100 = 40%

Elasticity of demand = 40% / 40% = 1

If coefficient of elasticity is equal to 1, demand is unit elastic. It means that a change in price has an equal efect on the quantity demanded. Quantity demanded has an equal and proportional change to changes in price.

I hope my answer helps you

3 0
3 years ago
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