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PtichkaEL [24]
3 years ago
10

With an aim of a diagram, distinguish between the income effect and substitution effect of change in price of a normal good​

Business
1 answer:
Nana76 [90]3 years ago
4 0

Hello. You did not present a diagram to which the question refers. However, I will try to help you in the best possible way.

The income effect is the term related to the increase or decrease in the consumer's purchasing power in relation to the fluctuation in the price of consumer products and the value of the national currency. On the other hand, the substitution effect refers to the impact between the variation of the consumers' income value and the product's prices.

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A local business is a busses that sells its products and services to consumers in its own city or town.
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2 years ago
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Karen Meyer owns and operates Crystal Cleaning Company. Recently, Meyer withdrew $10,000 from Crystal Cleaning, and she contribu
m_a_m_a [10]

Answer:

a) Karen Meyer's personal records

c) American Red Cross

Explanation:

Crystal cleaning has no concers of the money once it is withdrew.

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Also the American Red Cross will record the cash received along with other donations.

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3 years ago
Dante is looking forward to his friend's presentation on the top ten classic horror movies. He usually sits next to the air cond
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Answer:

(d) Identifying distractions.

Explanation:

Distraction is the process of diverting the attention of an individual or group from a desired area of focus and thereby blocking or diminishing the reception of desired information. Also distractions can come form both external sources and internal sources. Dante's is external and he was able do identify it and got a solution.

5 0
4 years ago
In 2002 the u.s. had a gpd (gross domestic product) of $10.5 trillion. what does that mean
olganol [36]
Thats how much product was produced and sold in the united states 
3 0
3 years ago
Suppose the production of solar powered lawn mowers is characterized by the production function Q = LE, where Q represents the n
RoseWind [281]

Answer:

110 labor and 1100 energy

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Explanation:

Q = L x E

Cost = 10 L + E

We use Excel solver tool to get this

    A            B               C      

1                Labor Energy  

2 Quantity     110          1100

3 Cost             10               1

4 output    121,000  (B2 * C2)

5 cost           2,200 (B2*B3 + C2*C3)

we want to minimize B5 (cost)

changing the quantities (b2:c2)

with the constrain that output b4= 121,000

7 0
4 years ago
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