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Komok [63]
3 years ago
12

The price of beef rises significantly, what will happen in the market for fast-food hamburgers assuming nothing else happens in

the market?
A. Supply decreases, pushing prices lower.
B. Supply increases, pushing prices lower.
C. Supply decreases, pushing prices higher.
D. Supply increases, pushing prices higher.
Business
1 answer:
romanna [79]3 years ago
5 0

Answer:

Option (c) is correct.

Explanation:

We know that beef is used as an ingredient or input in making hamburgers. If the price of the input i.e beef increases then as a result supply of hamburgers decreases because of the higher cost of production. This will shift the supply curve leftwards, its shows that lesser supply with same level of demand will lead to higher prices of hamburgers.

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Suppose that both wheat and corn have an income elasticity of 0.1.
Vesna [10]
<span>The demand for wheat would increase by 0.2 percent. Income elasticity indicates how much demand for something increases or decreases when income goes up or down. It is the calculated as the ratio of the percentage change in quantity demanded to the percentage change in income.</span>
4 0
4 years ago
An example of an exclusive power is when _____. a local government collects taxes from a foreign business the united states sign
finlep [7]

Exclusive powers are the rights that ONLY that governing body has the ability to do.

A local government can collect taxes from a foreign business, but so can the federal and state governments.

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This is the only exclusive power in the choices listed.

3 0
3 years ago
A client sks his accountant to ignore a mistake which overstated the accounts receivable account. The accountant decides that th
ioda

Answer:

C. Stage 4

Explanation:

stage 4 – respecting authority and preserving the rules of society.

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7 0
3 years ago
Suppose an industry has a four-firm concentration ratio of 20 percent and a Herfindahl index of 600. According to the cartel mod
Rina8888 [55]

Answer:

a competitive price

Explanation:

a competitive price

A four firm concentration ratio being just 20% shows and it is not mentioning any monopoly. Also a Herfindahl index of 600 is considered low

therefore a firm in mentioned industry likely to have a competitive price as lot of firms are  competing with same market shares.

competitive price is referred to that tactics where all competitor sells all items at same price.

6 0
3 years ago
Salvatore and Annette are sales managers for Acme USA. Both work full-time in the Acme offices under the same manager, and share
Bogdan [553]

Answer:

The correct answer is the option B: Acme willfully misclassified Annette as an independet contractor and is liable under Fair Labor Standards Act of 1938.

Explanation:

First of all, an <em>independet contractor</em> is the name that a person receives when provides goods or services under a written contract however they do not work regularly for an employer but work as required.

Secondly, the <em>Fair Labor Standards Act of 1938</em> is a United States Labor Law that creates certain standards that must be accomplished by the employers regarding topics like a minimum wage, ''time-and-a-half'' overtime pay and many others. The basic of this act is to establish standards and protect particular situations regarding the less benefited employees.

Finally, in the case of Acme, where Annette was hired as a independent contractor the company willfully misclassified her due to the fact that she has the same duties and hours of job as Salvatore therefore the company is liable under the Fair Labor Standards Act of 1938 to give her the same salary and health insurance.

5 0
4 years ago
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