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2 years ago

Most goods can be classified as normal goods rather than inferior goods. The definition of a normal good means that:

Business

1 answer:

ra1l [238]2 years ago

6 0

Answer:

A normal good is a good whose demand increases when income increases

Explanation:

Normal goods are goods that are goods whose demand increases when income increases and falls when income falls

Inferior goods are goods whose demand falls when income rises and increases when income falls.

For example, if when your income was $100,000 per annum, you had one car but when it increased to $500,000, you bought two more cars. Car is a normal good

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Mary's Cookies submitted an ad to the local newspaper with a coupon stating that a dozen cookies cost $2.99. The newspaper inste

Fed [463]

Answer:

Noise

Explanation:

Communication represents the means of passing information from the sender through an appropriate channel or medium to the receiver. An effective communication is the ability to adequately transmit the intentions of the sender to be adequately received by the receiver.

Noise is anything that has the ability to disrupt the adequate flow of information from the sender to the receiver. Noise can affect any of the following: Sender, Message, Transmission Channel and the receiver.

Communication Noise in the context of the question is described as any influence on communication that affects or distorts the right interpretation of the message a sender is transmitting to a receiver.

In the context of the question, the noise is indicated in the error of printed price. Instead of #2.99, the interpretation for the consumers is $29.99. The consumers will therefore, consider the cookies to be too expensive. This is noise in the message as a result of an error in the transmission channel.

4 0

3 years ago

A monopoly's cost function is CQ and its the demand for its product is pQ where Q is output, p is price, and C is the total c

Elan Coil [88]

Answer:

The answer is "70 units".

Explanation:

In the given question some equation is missing which can be defined as follows:

$C = 1.5Q^2+40Q\\\\P=320-0.5Q$

Monopolistic functions are used where Marginal Profit = Marginal Cost where marginal revenue and marginal cost stand for the MR and MC.

Finding the value of MR :

$\ MR = \frac{\partial TR}{\partial Q} \\\\$

$= \frac{\partial PQ}{\partial Q} \\\\= \frac{\partial (320-0.5Q)Q}{\partial Q}$

$= \frac{\partial (320Q -0.5Q^2)}{\partial Q}\\\\ = \frac{\partial Q (320 -0.5Q)}{\partial Q}\\\\ \ by \ solving \ we \ get \\\\ = 320 - Q...(1)$

Calculating the value of the MC:

$MC = \frac{\partial TC}{\partial Q} \\$

$=\frac{\partial (1.5Q^2 + 40Q)}{\partial Q} \\\\=\frac{\partial Q (1.5Q + 40)}{\partial Q}\\\\ \ by \ solve \ value \\\\ = 3Q + 40....(2)$

compare the above equation (i) and (ii):

$\to 320 -Q = 3Q+40\\\\\to 320 -40 = 3Q+ Q\\\\\to 280 = 4Q\\\\\to 4Q =280 \\\\\to Q= \frac{280}{4}\\\\\to Q= 70 \\$

8 0

3 years ago

When interest rates are high, consumers have a greater incentive to ______ more, but when interest rates are low, consumer have

viva [34]

When interest rates are high, then the consumers have a greater incentive to save more, but when interest rates are low, consumer have a greater incentive to borrow more.

<h3>What is Interest Rate? </h3>

This refers to the charge which is given for a particular loan which is replayed after a certain time.

With this in mind, high interest rates are not appealing to customers so they rather save and then borrow when the interest rates are low.

Read more about interest rates here:

4 0

1 year ago

In a small, closed economy, national income (GDP) is $ 400.00 million for the current quarter. Individuals have spent $ 150.00 m

Mashcka [7]

Answer:

The amount spent in this economy in the said quarter is $100,000,000.00

Explanation:

However, in closed economies what it simply means is that there are no exports and imports.

Investment (I) = business investment plus residential investment plus inventory investment. Government Purchases (G) = general government consumption plus general government investment. Net Exports (NE) = exports minus imports plus net tourism.

∴ to calculate the amount of money spent on this closed economy, I will use the Expenditure Approach formula for GDP and make Investment the subject of the formula which is

GDP formula is used which states that total output/GDP (Y) is equal to Consumption (C) + Investment (I) + Government Spending (G) + Net exports (NX). Where net exports is exports (X) minus imports (M): NX = X – M.

Where:

GDP (Y) = C + I + G + (X-M)

Where:

GDP (Y) = $400,000,000.00

C = $150,000,000.00

I = 0

G = $150,000,000.00

(X-M) = 0

GDP (Y) = C + I + G + (X-M) =

$400,000,000.00 = $150,000,000.00 + (I) + 150,000,000.00 + (X-M)

Making (I) the subject of the Formula

GDP- C -G = I

∴ $400,000,000.00 - $150,000,000.00 - $150,000,000.00 = I

∴ $400,000,000.00 - $300,000,000.00

= $100,000,000.00

The amount spent in this economy in the said quarter

= $100,000,000.00.

Note: I did not add the Tax because I used the Expenditure approach method which does not include the tax values while the Income Approach method does include it but excludes Export and Import values.

6 0

3 years ago

What are things you can do to manage the risks in your life to reduce any financial losses?

meriva

Spend carefully use discounts monitor your spending create list on how much you spend etc.

5 0

3 years ago

Read 2 more answers