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3 years ago

The term inferior goods refers to what kind of goods?b

2 answers:

8 0

The term inferior goods refers to goods that consumers demand less of when their incomes increase. The demand of this good would also decrease when the real GDP of the country increases. This would happen when a good would have a substitute that has more cost or price which would have an increase its demand as the people improve their income. An example would be coffee. A coffee from Mcdonald would be inferior to the coffee that is from Starbucks. When a person's income decrease, he would tend to buy coffee daily from McDonald since it is more affordable as compared to Starbucks. However, when his income rises, he would be preferring the one from Starbucks.

Zigmanuir [339]3 years ago

7 0

Answer:

Goods that consumers demand more of when their income increase!!!!!!!

Explanation:

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Which of the following falls in the category, "place" in the marketing mix?

inna [77]

Answer: trade shows

Explanation:

In marketing mix, the place is simply referred to as the process of movement if goods and services from the producer to the prospective consumers or consumers.

The place also refers to how ones good or service is bought and the place where it is being sold. The movement could be through intermediaries like distributors, the wholesalers, retailers etc.

In the above, the place will be the trade shows.

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3 years ago

Suppose the benefit of owning a painting, in terms of your personal enjoyment, is worth 5% of the value of the painting. If the

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Answer:

Explanation:

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3 years ago

Marcus paid $35 to buy a potato cannon, a cylinder that shoots potatoes hundreds of feet. He was willing to pay $45. When Marcus

julsineya [31]

Answer:

The question is incomplete; Determine the consumer surplus from the original purchase and the additional surplus generated by the resale of the cannon.

Marcus' consumer surplus= $45-$35= $10

Starling's consumer surplus= $80-60= $20

Marcus' producer surplus = $60-35 = $25

Explanation:

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3 years ago

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Answer:

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3 years ago

The college student loan burden is second only to mortgages in consumer debt in the United States. The government estimates that

Reika [66]

Answer:

Explanation:

The college student loan burden is second only to mortgages in consumer debt In the United States. The government estimates that some 41 million students together owe more than $1.2 trillion. In North Carolina, what is the relationship between student loan debt and the tuition/fees that the students pay? After obtaining data for 14 four-year universities in the State University System of North Carolina (data for Elizabeth City State University and Winston Salem State University were not available), suppose we assume a simple linear modelyi= β0+ β1xi+ εito describe this relationship, where xi is the academic year tuition/fees at school In i

and yi is the average student loan debt of graduates of school i, i = 1, ..., 14. Shown below are summary statistics for the 14 schools.

NB: please check the attached document for complete work.

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3 years ago