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Alex
3 years ago
14

If product Y is an inferior good, a decrease in consumer incomes will rev:

Business
1 answer:
Marat540 [252]3 years ago
4 0

Answer: Option (B) is correct.

Explanation:

Inferior good is a good whose demand is inversely related with the consumers income. This means that if there is an increase in the income of the consumer then as a result demand for normal good increases but demand for inferior goods decreases.

On the other hand, if there is a decrease in the income of the consumer then as a result demand for normal good decreases but demand for inferior goods increases.

Hence, decrease in consumer incomes will increase the demand of product Y and the demand curve for product Y to the right.  

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What should the driver do if he sees a steady yellow x over the lane that he driving in
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He would slow down yelliw mean slow down red is stop and green is go so he would slow down
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3 years ago
A prosecutor convened a grand jury to bring criminal charges against a pharmaceutical corporation. The charges were related to a
Rina8888 [55]

The answer is,  the Fifth Amendment privilege does not extend to the custodian of corporate records.

<h3>What defines a pharmaceutical company?</h3>
  • A pharmaceutical company, often known as a drug company, is a for-profit organization with a license to conduct medication research, development, marketing, and/or distribution, usually in the context of healthcare.

<h3>What is the role of pharmaceutical companies?</h3>
  • The pharmaceutical sector creates, produces, and markets pharmaceutical products. Its goal is not to define sickness.
  • The majority of drugs created by pharmaceutical corporations are designed to treat conditions that have already been identified as such by the medical community.

<h3>What is an example of pharmaceutical?</h3>
  • Pharmacies or prescribed medications are mentioned in the definition of pharmaceutical.
  • Prozac is an example of a pharmaceutical drug. (medicine) Of, pertaining to, or involving a pharmacy or pharmacists

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5 0
2 years ago
Last week, michelle spent $30 on caviar. today, michelle still spends $30 on caviar even though its price has doubled. what is m
Liula [17]
Price elasticity of demand describes how the quantity demanded changes with a change in price. It describes how responsive demand is to price. 

The formula for elasticity is:
e = %change in Quantity ÷ % change in price
Keep in mind that this number will almost certainly be negative, since an increase in price should decrease demand. 

The problem tells us that price has doubled. This represents a 100% increase in price: Michelle still spent $30 dollars, although this $30 bought her half as much caviar since the price is twice what it was. This means her quantity demanded, or purchased, fell by 50%. 

e= -50% ÷ 100%
e = -0.5

This tells us, more generally, that a x% increase in the price reduces demand by x/2%. 
4 0
3 years ago
Sherman Peabody earns a monthly salary of ​$1,500​, which he receives at the beginning of each month. He spends the entire a
ale4655 [162]

Answer: A. maximizes the profits from money management.

Explanation:

The optimal average level of money is indeed the amount that maximises profit from money management.

Money management is essentially taking charge of your money and ensuring that you manage it in such a way as to limit unnecessary expenses whilst growing money through measures such as budgeting, investing and expenses tracking.

With Mr Peabody's income and other financial constraints, the optimal average level of money will be the most he can maximise from managing his money.

6 0
4 years ago
Below table represents buyers’ willingness to pay for a roasted chicken and consider that there is only one supplier whose cost
frez [133]

Answer:

$13

Explanation:

total consumer surplus = ($10 - $6) + ($7 - $6) = $4 + $1 = $5

total supplier surplus = ($6 - $2) x 2 units = $4 x 2 = $8

total surplus in the market = consumer surplus + supplier surplus = $5 + $8 = $13

Since the price is higher than Chuck's willingness to pay, no transaction will occur resulting in 0 surplus.

3 0
3 years ago
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