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marusya05 [52]
3 years ago
11

If a 10 percent increase in income induced a group of consumers to reduce their yearly purchases of eggs by 5 percent, for these

consumers, Group of answer choices the income elasticity of eggs equals approximately 1.05. the income elasticity of eggs is 0.5. eggs are a luxury good. eggs are an inferior good.
Business
1 answer:
Ulleksa [173]3 years ago
3 0

Answer:

the income elasticity of eggs is 0.5.

Explanation:

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

Income elasticity of demand measures the responsiveness of quantity demanded to changes in income.

income elasticity = percentage change in quantity demanded / percentage change in income

5/10 = 0.5

If the absolute value of income elasticity of demand is greater than one, it means demand is elastic.

If the absolute value of income elasticity of demand is less than one, it means demand is inelastic.

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aleksandrvk [35]

Answer: True

Explanation:

The Federal Reserve requires that all banks with National charters become members of the Federal Reserve so that they may have a say in the way the Fed runs its operations. State banks are not required to join but can if they meet some requirements.

The Office of Comptroller of the Currency (OCC) continually supervises and examines national banks to ensure that they are engaged in best practices regarding their operations and treatment of customers.

8 0
3 years ago
Northern Illinois Company expects to sell 36,000 units of finished goods over the next 6-month period. The company has 12,000 fi
sp2606 [1]

Answer:

38,000 units

Explanation:

Total production required = Forecasted unit sales + Planned finished goods inventory balance = 36,000 + 14,000 = 50,000 units

Products to be manufactured = Total production required - Beginning finished goods inventory = 50,000 - 12,000 = 38,000 units

The number of finished units to be produced = 38,000 units

So the correct answer will be 38,000

8 0
3 years ago
Good morning everyone how yall doing today
elena-14-01-66 [18.8K]

Answer:

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5 0
2 years ago
Read 2 more answers
Suppose a retail store was offering 10% off all prices on all goods. The incentive to take advantage of the 10% savings is:_____
STALIN [3.7K]

Answer:Directly related to the list price of the good

Explanation:

6 0
3 years ago
Unistar Inc., is an FMCG company that produces a wide range of offerings such as grocery items and personal care products. If Un
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Answer:

b) Descriptive

Explanation:

Descriptive  research -

It refers to the questions of the research , designing the data and researching and analyzing the topic , is called the descriptive research .

it is also known as the observational research method .

From the data of the question , the Unistar Inc , need to opt for a  descriptive research .

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