In the market for magazines, the "income effect" means that

1 answer:

5 0

The income effect shows a change in someone or the economy's income and how it changes the quantity of a good or service. If one is making more, they are usually buying more of something. If someone is making less, they are often buying less of something.

In the market for magazines, the "income effect" means that if the price of a magian rises magazine readers will purchase less magazines.

You might be interested in

A good example of a ______________ offense is selling alcoholic beverages to a minor

laila [671]

Minor criminal offense, specifically a strict liability offense. Strict liability refers to an offense made regardless of the the intent of action. In other words, even if you have no malicious intent, you are still liable for the offense. Another example is possession of drugs.

4 0

3 years ago

Which of the following will not create minimum contacts in a state sufficient to find personal jurisdiction on an out-of-state d

Maurinko [17]

Answer: A company maintains a website that provides information about its products and that provides an address or number that a customer can contact to obtain an order form to purchase products directly from the company.

Explanation:

With different states having varying laws but yet still sharing a lot of business interests, it is important that the states know when they can have jurisdiction over a person.

Minimum contacts is the solution and is used to determine whether an entity has sufficient contacts in a state to warrant jurisdiction over them.

Simply having a website that can be accessed by people in a state does not fall under the provisions required for minimum contact to be met so the courts in this state cannot have personal jurisdiction over this company.

7 0

3 years ago

A company has the following asset account balances: Buildings and equipment $9,200,000 Accumulated depreciation 1,200,000 Patent

Elis [28]

Answer:

$14,000,000

Explanation:

To be reported under Property, Plant and Equipment:

= (Buildings and equipment - Accumulated depreciation) + Land Improvements + Land

= ($9,200,000 - $1,200,000) + $1,000,000 + 5,000,000

= $8,000,000 + $1,000,000 + 5,000,000

= $14,000,000

Note:

(1) Intangible Assets (Patents) will be reported after Plant, Property and Equipment. These are not a part of plant, Property and Equipment.

(2) There is no information about the useful life of the Land, so the value of land improvements will be included in the property, plant, & equipment section.

7 0

3 years ago

While advocates of a market-oriented economy tend to argue that consumers benefit substantially when firms seek short-term profi

ELEN [110]

Answer: socially wasteful

Explanation:

Product differentiation is when a product is being distinguished from similar products in order to make it more appealing and therefore drive consumers choice.

It should be noted that critics of market-oriented economies may argue that product differentiation is socially wasteful.

4 0

3 years ago

If muffins and bagels are substitutes, a higher price for bagels would result in:

Alexandra [31]

Answer: a) increase in the demand for bagels

If muffins and bagels are substitutes, a higher price for bagels would result in a(n)

a) increase in the demand for bagels
b) increase in the demand for muffins
c) decrease in the demand for muffins
d) none of the above
b) increase in the demand for muffins

7 0

3 years ago