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sashaice [31]
3 years ago
7

Suppose that hot dogsarean inferiorgood. Suppose further that firms that sell hot dogs pay their workers the minimum wage. What

would happen to the equilibrium price and quantity of hot dogssold if income rises, andthe minimum wage also risesat the same time? Explain.

Business
1 answer:
Juli2301 [7.4K]3 years ago
5 0

Answer:

eq. quantity and eq. price decrease

Explanation:

If income rises, because hotdogs are inferior goods, the demand for them will decrease and if at the same time minimum wage increases, then costs of production will increase, and total supply will decrease. The change in demand is a shift to the left of the demand curve, and the change in supply is also a shift to the left of the supply curve.The figure attached shows this two changes, the result is a decrease in the equilibrium quantity and price of hotdogs.

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Example of opportunity cost atlist 3 example​
gregori [183]

Answer:

Someone gives up going to see a movie to study for a test in order to get a good grade. The opportunity cost is the cost of the movie and the enjoyment of seeing it.

At the ice cream parlor, you have to choose between rocky road and strawberry. When you choose the rocky road, the opportunity cost is the enjoyment of the strawberry.

A player attends baseball training to be a better player instead of taking a vacation. The opportunity cost was the vacation.

I hope i helped! xoxo

5 0
3 years ago
Explain. Brainliest.
Rus_ich [418]
Alright, well look like this:

Public goods are goods that are open to anyone. They can’t turn down customers, and they can’t turn down even people who don’t pay.

Excludable goods means the people CAN turn away those who don’t pay. So, this is wrong.

Goods for a profit means that no matter what, they make money. Meaning those who can’t pay can still be turned away.

Privately owned goods can be turned away to and from anyone. This is also wrong.

Nonexcludable goods means that ANYONE can use this good or service, they aren’t for profit, they are non-rivalrous, etc. This is your answer.

<span>~Hope this helps!</span>

7 0
4 years ago
The government of the United States borrows most of the money it needs by __________.
Anastasy [175]
 government of the United is federal government and it borrows most of the money it needs by <span>selling Treasury Bills and Treasury bonds
so the correct option is B
because through taxes it cannot borrow and through issuing stocks not because its related to companies and of course govt don't take loan
hope it helps</span>
5 0
3 years ago
Which of the following best describes the availability​ float? A. how long it takes the firm to process the check and deposit it
Eva8 [605]

Answer:

The correct answer is option A.

Explanation:

Availability float refers to the time difference between when the check is deposited and when the money is transferred to the recipient's account.  

The time difference exists because the bank has to process the physical check before transferring the funds.  

So the availability float can also be defined as the time taken by a bank to process and honor a check and transfer the funds to the recipient's bank.

4 0
3 years ago
Which of the following is an example of how high student loan debt can
irina [24]
A person may choose to rent instead of buying a property as they can't afford a down payment
6 0
1 year ago
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