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lakkis [162]
3 years ago
5

Assume that a 4 percent decrease in income results in a 6 percent increase in the quantity demanded of a good. The income elasti

city of demand for the good is a. negative, and the good is an inferior good. b. positive, and the good is an inferior good. c. positive, and the good is a normal good. d. negative, and the good is a normal good.
Business
2 answers:
Naddik [55]3 years ago
7 0

Answer:

The correct answer is "a. negative, and the good is an inferior good.".

Explanation:

Drupady [299]3 years ago
3 0

Answer: The correct answer is "a. negative, and the good is an inferior good.".

Explanation: Assuming that a 4 percent decrease in income results in a 6 percent increase in the quantity demanded of a good, the income elasticity of demand for the good is negative because the good is an inferior good.

Inferior goods are those material elements that are related to the consumption of people who have lower incomes and who cover their basic needs.

Its income elasticity coefficient is negative. Therefore, when the consumer's income increases, the demand for these goods decreases because the consumer can choose other higher quality products..

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Name the different levels of courts and describe their powers?
harkovskaia [24]

A trial court hears witnesses testify and examines other information presented to prove the alleged facts and render a legal decision. An appellate court is concerned with the application of law in the decision of a lower court and may affirm, reverse, amend, or remand the decision of a lower court.

4 0
3 years ago
7. You have saved $4,000 for a down payment on a new car. The largest monthly payment you can affort is $350. The loan will have
nordsb [41]

Answer:

$13,290.89  and $15,734.26

Explanation:

In this question we have to use the Present value function which is shown on the attachment below:

In the first case

Provided that

Future value = $0

Rate of interest = 12%  ÷ 12 months = 1%

NPER = 48 months

PMT = $350

The formula is shown below:

= PV(Rate;NPER;PMT;FV;type)

So, after solving this, the present value is $13,290.89

In the second case

Provided that

Future value = $0

Rate of interest = 12%  ÷ 12 months = 1%

NPER = 60 months

PMT = $350

The formula is shown below:

= PV(Rate;NPER;PMT;FV;type)

So, after solving this, the present value is $15,734.26

8 0
3 years ago
If The Limited Company relies on hiring a foreign textile manufacturer to produce a
svetlana [45]

Answer: Contract manufacturing.

Explanation:

Contract manufacturing is the outsourcing of some production activities that were formerly done by the producer to a third party. An organization may outsource certain parts for a product.

Contract manufacturing is the practice of giving out part of a work to outside sources rather than completing all the work within the company. It results in lower expenses and costs.

4 0
3 years ago
Elise has debt problems and sees an ad for a credit counseling service. When she calls to get more details, she suspects that th
morpeh [17]
The right answer for the question that is being asked and shown above is that: "d) All answers are correct."  The situation that could have tipped Elise of is that of requiring a free course on money management; charging large monthly fees for the service;<span> asking her to cancel most of her credit cards</span>
4 0
3 years ago
Business objectives are not just about <br> profit <br> True or false
borishaifa [10]

Answer:

True

Explanation:

The answer is true

7 0
3 years ago
Read 2 more answers
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