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Nat2105 [25]
3 years ago
15

Suppose the price of tomatoes falls, ceteris paribus. Describe the impact the substitution effect and the real income effect wou

ld have on the quantity demanded of tomatoes.
Business
1 answer:
mamaluj [8]3 years ago
3 0

Answer:

Ceteris paribus assumption: Demand curves relate the prices and quantities demanded assuming no other factors change

Explanation:

Ceteris paribus is a  Latin phrase meaning “other things being equal”. If all else is not held equal, then the laws of supply and demand will not necessarily hold.

Demand is the amount of some product a consumer is willing and able to purchase at each price.

IMPACT THE SUBSTITUTION EFFECT AND THE REAL INCOME

A substitute is a good or service that can be used in place of another good or service. A lower price for a substitute decreases demand for the other product and increases the quantity demanded for tomatoes

A change in the price of a good or service causes a movement along a specific demand curve, and it typically leads to some change in the quantity demanded, but it does not shift the demand curve.

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3 years ago
What is a misdemeanor?
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Answer:

D

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Answer:

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3 0
3 years ago
1.The hope of reward that encourages a person to behave in a certain way is a(n) _______.
netineya [11]
Here are the answers to the given questions above.
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8 0
3 years ago
Read 2 more answers
On April 1, Garcia Publishing Company received $24,480 from Otisco, Inc. for 36-month subscriptions to several different magazin
Aleks [24]

Answer:  Debit Unearned fees $6,120, Credit Fees income $6,120.

Explanation: Garcia Publishing received $24,480 from Otisco on April 1 and this was recorded as unearned fees. This means Garcia would have debited cash with $24,480 and credited unearned fees $24,480. Remember the fees was paid at the beginning of April and is for 36-month subscriptions. So, the amount in unearned fees would be unwound to income (fees) over the tenor of the subscription (36 months). Therefore, monthly amortization would be $24,480 divided by 36 months = $680. April 1 to December 31 is 9 months, $680 multiplied by 9 months is $6,120.

8 0
4 years ago
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