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marta [7]
3 years ago
14

Pens are normal goods. What will happen to the equilibrium price of pens if the price of pencils rises, consumers experience an

increase in income, writing in ink becomes fashionable, people expect the price of pens to fall in the near future, the population increases, fewer firms manufacture pens, and the wages of pen-makers decrease?

Business
1 answer:
sergey [27]3 years ago
6 0

Answer:

Equilibrium price rises

Equilibrium price rises

Equilibrium price rises

Equilibrium price falls

Equilibrium price rises

Equilibrium price rises

Equilibrium price falls

Explanation:

A normal good is a good whose demand increases when income rises.

If the price of pencils increases, the demand for pens would increase. This would lead to an excess of demand over supply and price would rise as result. Pens and pencils are substitute goods.

If income of consumers rise, the demand for pens would rise because pens are normal goods. The increase in demand would lead to an excess of demand over supply and prices would rise.

If writing in ink becomes more fashionable, the demand for pens would increase. The increase in demand would lead to an excess of demand over supply and prices would rise.

If people expect the price of pens to fall in the near future, consumer would reduce their demand for pens and shift it to the future. The fall in demand would lead to a fall in price.

If population increases, the demand for pens would rise. The increase in demand would lead to an excess of demand over supply and prices would rise.

If fewer firms supply pens, supply would fall. This would cause a leftward shift in the supply curve and prices would rise.

If wages of pen makers fell, firms would increase their demand for Labour and quantity supplied would increase. This increase would cause price to fall.

I hope my answer helps you.

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Sustainable farming focuses on producing long-term crops and livestock, while also having minimal effects on the environment.
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Some managers encourage employees to make their own decisions. This type of management is called _____
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During its first year of operations, Mack's Plumbing Supply Co. had sales of $550,000, wrote off $8,800 of accounts as uncollect
vova2212 [387]

Answer:

$60,500

Explanation:

With regards to the above, the write off does not affect the realizable value of accounts receivables. Also, the total asset or net income is not affected by the write off or specific account. Instead, both assets and net income are affected in the period when bad debt expense is predicted and then recorded with an adjusting entry.

Accounts receivables

$550,000

Less:

Allowance for doubtful account

($550,00 × 2.5%)

($13,750)

Estimated realizable accounts receivables

$536,250

If the amount of bad debt decreases or increases as given below, then the income is also increased or decreased by the amount given.

Bad debts = $13,750

Uncollectible previously written off = $8,800

Difference

$4,950

Net income

$60,500

Less:

Difference

($4,950)

Reported income

$55,550

3 0
3 years ago
list 4 stages of development impacting the airline industry and briefly describe how each has impacted the future direction of t
PolarNik [594]

The 4 stages of development that impacted the Airline Industry are:-

1. <u>Regulation</u>: Strict government control of fares, routes, and entry into markets Regulation resulted from tight ownership control of fares, limited competition on chosen routes, a small market served, a low frequency of city connections, high fares, government bailouts for air carriers, and incentives to increase airline profitability

2. <u>Liberalization</u>: reducing governmental control, increasing bilateral agreements, expanding into new markets, diversifying into new goods, and specialising in specialised markets.

3. <u>Deregulation</u> results in less airfare, improved service, and no government regulation of the market.

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6 0
1 year ago
20 points to the best one !!
masya89 [10]

Answer:

The answer is "Knowledge discovery & predictions category or anomalous detention assessment or Data mining".

Explanation:

Regression is a type of analysis in which some parameters' relationships are determined by the values of other variables, whereas departure detection is a type of analysis wherein the goal is to find changes in data from previously observed values. Enigma detaining analysis, often known as knowledge discovery analysis, is a sort for anomaly incarceration analysis, while regression is classed as a forecast.

5 0
2 years ago
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