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aliina [53]
2 years ago
9

Tommy is about to order a steak dinner with a salad at his favorite restaurant. The restaurant recently raised its prices on ste

aks but kept its prices on salads the same. How might the real-income effect and the substitution effect influence Tommy’s order?
Business
1 answer:
lozanna [386]2 years ago
3 0

Answer:

Explanation:

Each of these effects would most likely influence Tommy's order differently. The real-income effect would most likely cause Tommy to buy the large steak and salad regardless of the increase in price since individuals tend to spend more when they start making more money. The substitution effect on the other hand would most likely cause Tommy to order a smaller steak since it costs more but at the same time order, more salad since the price has not increased as the steak did.

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Answer:

Answer: Cost of goods sold, gross profit and net income

Explanation:

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Cost of Goods Sold 312600

b)  

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c)  

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Net Income  182350

2)  

a)  

Digital Vibe Manufacturing Company

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Sales  232300

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Gross profit  128900

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b)  

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4 0
2 years ago
How might increasing the level of government transfers reduce the size of the economic pie? check all that apply?
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8 0
2 years ago
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Explanation:

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Answer:

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According to Fiedler's contingency theory of leadership effectiveness, leadership style is fixed and leaders will need to be put into situations that best matches their style.

The two important factors to consider in thos theory are leadership style and situational favourableness.

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Answer:

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Explanation:

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2 years ago
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