Answer:
The answer to this question is b. Yours will be positive and your roommate's would be negative.
Explanation:
Income elasticity of demand is the degree of responsiveness of demand to changes in income. In other words, it measures how changes in income of consumers will affect the quantity of commodities demanded by such consumers.
An income elasticity of demand can be positive or negative.
It is positive, when an increase in income leads to an increase in the quantity demanded by the customer. However it is referred to as negative when an increase in income leads to decrease in the quantity demanded by the consumer.
In the question above, it can be seen that the increase in income of the first person brought about increase in the commodity demanded thereby making his income elasticity of demand positive. one the other hand, the increase in the income of his roommate, brought about decrease in his demand which translate to the fact that his income elasticity of demand would be negative.
Hence the answer given.
1. Own your name.
2.Get in with the law.
3.How much do you need to live? got to think about your living costs.
4.Takes Brains, and bravery.
5.learn and be smart
Answer:
The correct answer is a) price searcher; also a price searcher.
Explanation:
In the market there are situations known as monopoly where a person or a group of people have control in the market, these people are known as monopolists, and they usually have power in a specific market.
The monopolists are characterized by the dominance of the price and of the products to put it in a market for their potential clients, these are the ones in charge of putting their prices on the products to be competitors before the competition. Likewise, there is a monopoly competitor, who also seeks the best prices to help them be competitive in the market, many monopolists compete with similar products and different prices.
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<em>I hope this information can help you.</em>
Answer: d.$1,800 – $1,150 = $650
Explanation:
In 2019, the IRS listed that a Dependent who is claimed by another tax payer ( Tony's Grandmother) can have a tax deduction of $1,100, or their earned income plus $350 depending on which is higher.
Tony's earned income is $800 from his part-time job so his deduction is $1,150 (800 + 350) as this is higher than $1,150.
His tax is therefore,
= Unearned Income + Earned Income - Deduction
= 1,000 + 800 - 1,150
= 1,800 - 1,150
= $650
