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inna [77]
3 years ago
14

The income of consumers has decreased. You know that canned meat is an inferior good. What will happen to the equilibrium price

and quantity of canned meat
Business
1 answer:
HACTEHA [7]3 years ago
7 0

Answer:

Since canned food is an inferior good, as consumers' income decreases, the demand for canned food will increase.

Explanation:

When consumer income decreases, the aggregate demand curve shifts tot he left. This will decrease the consumption normal goods, especially luxury goods. But it will also increase the consumption of inferior goods, such as canned food, noodles, etc.

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Laredo advertises a reward for the return of his lost dog. Miguel, who does not know of the reward, finds and returns the dog, w
Makovka662 [10]

Answer:

b. did not know of the reward when he returned the dog.

Explanation:

Laredo advertises for getting his dog back. This does not infer that the dog will only be returned when the reward will be paid.

Miguel did not know about the reward, so the reward in this case is not mandatory to be paid, but if Laredo initiates the reward himself, that can be accepted.

This is a clear demonstration of being kind and get what you know.

So if you do not know the facts, you are on fault.

4 0
3 years ago
At the beginning of April, Warren Corporation's assets totaled $257,000 and liabilities totaled $77,000. During April the follow
g100num [7]

Answer:

Total liabilities is $170,500

Explanation:

Warren's total liabilities at end of April comprises of the beginning  balance of liabilities of $77,000 plus the notes payable signed in  respect of the building acquired in the course of the year,the computation is shown below:

Beginning balance of liabilities         $77,000

Notes payable                                    $93,500

Total liabilities                                     $170,500

The notes signed by employee of $11,700 is notes receivable as the employee is owing the company and should be classified as notes payable ,but notes receivable instead, an asset.                      

3 0
3 years ago
Naomi plans on saving $3,000 a year and expects to earn an annual rate of 10.25 percent. How much will she have in her account a
Gre4nikov [31]

D. $2,333,572

To find the future value of annuity ordinary the formula is

Fv=pmt [(1+r)^(n)-1)÷r]

Fv future value?

PMT payment per year 3000

R interest rate 0.1025

N time 45 years

So

Fv=3,000×(((1+0.1025)^(45)−1) ÷(0.1025))=

<h2><u>$2,333,571.66 </u></h2>

Good luck!

7 0
3 years ago
A firm is operating in the United States with only two other competitors in the industry. a. It is likely this industry would be
Talja [164]

Answer:

a. oligopoly.

b. an economic profit.

c. economic profits will fall.

Explanation:

An oligopoly can be defined as a market structure comprising of a small number of firms (sellers) offering identical or similar products, wherein none can limit the significant influence of others.

Hence, it is a market structure that is distinguished by several characteristics, one of which is either similar or identical products and dominance by few firms.

The characteristics of an oligopolistic market structure are;

I. Mutual interdependence between the firms.

II. Market control by many small firms.

III. Difficult entry to new firms.

Hence, a firm operating in the United States of America with only two other competitors in the industry is likely to be an industry that would be characterized as oligopoly.

Additionally, business firms operating in this industry (oligopolistic market) will likely earn an economic profit. Also, if foreign business firms begin supplying the product, increasing the number of competitors, it is likely that economic profits will fall because the industry is now being competitive and controlled by other business firms.

5 0
3 years ago
Oaktree Company purchased new equipment and made the following expenditures:
const2013 [10]

Answer:

                                  Cr.          Dr.

Equipment            $66,880

Account Payable                  $62,600

Cash                                      $4,280

Explanation:

All the costs incurred to make asset usable should be capitalised.

Equipment Cost = Purchase Price + Sales Tax + Freight Charges + Insurance Charges + Installation

Equipment Cost = $59,000 + $3,600 + $840 + $1,040 + $2,400

Equipment Cost = $66,880

4 0
2 years ago
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