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3 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]3 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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What is the law of supply

Julli [10]

The law of supply is a fundamental principle of economic theory which states that, other factors held constant, an increase in price results in an increase in quantity supplied. In other words, there is a direct relationship between price and quantity: quantities respond in the same direction as price changes

4 0

3 years ago

Read 2 more answers

"You deposit $12,000 today into an account that pays you 12% annual interest, compounded daily. How much MORE will you have in 4

Solnce55 [7]

Answer:

$340,363.55

Explanation:

you need to calculate the future value of your deposit:

future value = present value x (1 + interest rate)ⁿ

present value = $12,000
interest rate = 12% / 365 = 0.032877%
n = 40 x 365 = 14,600

future value = $12,000 x (1 + 0.032877%)¹⁴⁶⁰⁰ = $1,456,975.20

if the interest is compounded annually, the future value = $12,000 x 1.12⁴⁰ = $1,116,611.65

the difference = $1,456,975.20 - $1,116,611.65 = $340,363.55

5 0

3 years ago

Kaitlyn purchased one share of Northwest Energy stock for $200; one year later she sold that share for $400. The inflation rate

Law Incorporation [45]

Answer:

The tax on Kaitlyn's capital gain was $100

Explanation:

In order to calculate the tax on Kaitlyn's capital gain we would have to calculate first the Nominal capital gain as follows:

nominal capital gain=$400 - $200

nominal capital gain= $200

Therefore, tax on Kaitlyn's capital gain= tax percentage×nominal capital gain

=50%×$200

=$100

The tax on Kaitlyn's capital gain was $100

6 0

3 years ago

Appalachian mountain goods has paid increasing dividends of $.10, $.12, $.15, and $.20 a share over the past four years, respect

ipn [44]

<span>the answer is 22.96 percent</span>

3 0

4 years ago

Each unit of a product requires 5 components. The average number of components is 5.50 due to component failure. Purchasing high

Evgesh-ka [11]

Answer:

correct option is d. $225

Explanation:

given data

product requires = 5 component

average number of components = 5.50

reduce average number of components = 5 per unit

cost per component = $450

solution

we get here reduction in failure costs per unit due to purchasing that is express as

reduction in failure costs per unit due to purchasing = ( average number of components - product requires ) × cost per component .......................1

put here value and we get

reduction in failure costs per unit due to purchasing = ( 5.50 - 5 ) × $450

reduction in failure costs per unit due to purchasing = $225

so correct option is d. $225

4 0

3 years ago