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Naddika [18.5K]
2 years ago
7

For most goods, a rise in people’s income means that there will be

Business
1 answer:
Ksenya-84 [330]2 years ago
3 0
C. An increase in demand.

Because people will have more money available for demanding further of those goods. Certain exceptions apply to these rule.
You might be interested in
Define liquidity. Rank the following assets in terms of liquidity, from most to least liquid: money market mutual fund, savings
valina [46]

Answer:

Liquidity: amount of cash or cash equivalents and its primary feature of converting quickly into money without losing any of it current value.

1)_ Dollar bill

2)_ Saving account

3)_ Checking account

4)_ Gold bar

5)_ Corporate stock

6)_ Money market mutual fund

7)_ House

Explanation:

To begin with, the liquidity is the feature of those assets to converting the most quickly as possible in cash and therefore the the most liquid asset is properly the dollar bill and the less liquid asset is the house due to the fact that it could take years to sell by a proper offer and becoming actual cash. In conclusion, it works that way with all the other assets, the liquidity of each one is higher or lower depending on the quickness of converting into cash.

3 0
2 years ago
Kristen Lu purchased a used automobile for $10,100 at the beginning of last year and incurred the following operating costs: Dep
densk [106]

Answer:

Instructions are listed below

Explanation:

Giving the following information:

Kristen Lu purchased a used automobile for $10,100 at the beginning of last year and incurred the following operating costs: Depreciation ($10,100 ÷ 5 years) $ 2,020 Insurance $ 1,100 Garage rent $ 600 Automobile tax and license $ 280 Variable operating cost $ 0.14 per mile

1) 10,000 miles

Insurance= 1,100

Garage= 600

Tax= 280

Variable costs= 0.14*10,000= 1,400

Total= $3,380

Cost per mile= 3380/10000= $0.338

2) The only relevant cost is the variable operating cost per mile. The other costs will exist whether she uses the car or not.

3 0
3 years ago
The _____ curve represents the full employment capacity of the economy and depends on the amount of resources available for prod
julia-pushkina [17]

The Long-Run Aggregate Supply curve represents the full employment capacity of the economy and depends on the amount of resources available for production and the available technology.

<h3>What is Long-Run Aggregate Supply Curve?</h3>

The Long-Run Aggregate Supply (LRAS) Curve depicts the relationship between price level and real GDP that would exist if all prices, including nominal wages, were completely flexible. Along the LRAS, prices can move, but production cannot since it represents the output of full employment.

To learn more about LRAS visit:

brainly.com/question/27064601

#SPJ4

5 0
1 year ago
This is section 3.7 problem 60: a clothing manufacturer has the cost function c(x)=1200+30x+0.5x2 , (in dollars), 0≤ x≤ 250 , wh
viktelen [127]

Answer:

90 suits per week must be produced and sold to achieve the maximum profit of $2,850.

Explanation:

The profit function is given by the revenue function minus the cost function:

P(x) = R(x) - C(x)\\P(x)=120x -1200-30x-0.5x^2

The number of suits, x, for which the derivate of the profit funtion is zero, is the production volume that maximizes profit:

P'(x)=0=120-30-x\\x=90\ suits

The profit generated by producing 90 suits is:

P(90)=120*90 -1200-30*90-0.5*90^2\\P(90) = \$2,850

Therefore, 90 suits per week must be produced and sold to achieve the maximum profit of $2,850.

5 0
3 years ago
If a family spends its entire budget in a given time frame, the family can afford either 10 restaurant meals or 30 home meals. A
Andrej [43]

The opportunity cost of one extra restaurant meal in the time frame is 3 home meals.

<h3>What is opportunity cost?</h3>

Opportunity cost of the next best option forgone when one alternative is chosen over other alternatives. When the family chooses to go for the restaurant meal, they forgo the opportunity for a home meal.

Opportunity cost  = 30 / 10 = 3

To learn more about opportunity cost, please check: brainly.com/question/26315727

7 0
2 years ago
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