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laila [671]
2 years ago
15

The substitution effect of an increase in the price of Raisin Bran refers to Select one: a. the decrease in the demand for Raisi

n Bran when its price rises. b. the result that consumers will now switch to a substitute good such as Cheerios, and the demand curve for Raisin Bran shifts to the left. c. the fact that the higher price of Raisin Bran lowers consumer's purchasing power, holding money income constant. d. the fact that the higher price of Raisin Bran relative to its substitutes, such as Cheerios, causes consumers to buy less Raisin Bran.
Business
1 answer:
EleoNora [17]2 years ago
5 0

Answer:

the fact that the higher price of Raisin Bran relative to its substitutes, such as Cheerios, causes consumers to buy less Raisin Bran.

Explanation:

the substitution effect arises when as a result of a rise in the price of a good, the good becomes more expensive relative to its substitutes. Consumers not consume less of the good and more of the substitute. This leads to a movement up along the demand curve for that goods and not a movement along the demand curve for the good and not a shift of the demand curve.

If the price of the good increases. The good becomes cheaper when compared with substitutes. As a result, the demand for the good increases while that of the substitutes decreases.

The income effect is when an increase in price lowers consumer's purchasing power, holding money income constant.

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The tax agency fund of Hardin County collected $1,000,000 for a school district, $5,000,000 for the county General Fund, and $50
rewona [7]

Answer:

$1,500,000

Explanation:

County receives funding from numerous sources. County has no control to introduce new taxes or increasing current taxes, except for property tax.

Given:

County collected for a school district = $1,000,000

County for General Fund =  $5,000,000

For town located in the County = $500,000

Hardin County Agency Fund = County for school + County for a town

= $1,000,000 + $500,000

= $1,500,000

4 0
3 years ago
Leona bought two different brands of wine from vineyards in Australia. When asked for her opinion about the wines, she said that
Diano4ka-milaya [45]

Answer:

C. <u>Post purchase</u><u> </u><u>behavior</u>

Explanation:

Whenever a consumer buys a product, he/she undergoes various stages between the creation of need/want and the ultimate purchase decision.

5 stages have been stated under Consumer buying decision, namely,

  1. Need recognition : the foremost stage wherein a need or desire arises.
  2. Information search: Here, the consumer searches for information w.r.t how the need or want can be satisfied.
  3. Evaluation of alternatives: The stage wherein a consumer weighs pros and cons of all available alternatives which can satisfy the need.
  4. Purchase: The stage wherein a consumer finally purchases a product.
  5. Post purchase behavior : Here, the consumer evaluates his purchase and reviews his purchase decision.

In the given case, the customer already bought both the wines. Her opinion regarding superiority of quality and taste between the two, represents her post buying stage of purchase decision and her review of the viability of purchase decision.

8 0
3 years ago
A case comes before a Wisconsin state trial court on the subject of free speech on the Internet. It is a case of first impressio
sp2606 [1]

Answer:

The correct answer would be option B, Judge's own personal feelings about the internet.

Explanation:

When a case comes to a court, it is the responsibility of a judge to see every aspect of the case and analyze it on the basis of given evidence or set rules or standards, or in the light of decisions made on the same case by other courts. But in this question, it is said that the case which was brought to the court was the first in its kind, it means no such type of case has been ever submitted in any court before. The freedom of speech on internet is a sensitive issue. So all aspects should be kept in mind while proceeding the case, and it would not be considered proper for the judge to bring his person feelings about the internet into the case. His personal feelings should be set aside and the case should be solved on the basis of evidences and solid views.

3 0
3 years ago
You will need $228,790 in 28 years to supplement your retirement funds. if you can earn 8% interest, you must save $________ eac
kodGreya [7K]
You will need $228,790 in 28 years to supplement your retirement funds. If you can earn 8% interest, you must save $2,400 each year. ✅
3 0
3 years ago
Read 2 more answers
"Which one of the following items requires an adjustment on the bank side of the bank reconciliation?
ale4655 [162]

Answer:

Deposits in transit

Explanation:

A company's deposit in transit is the currency and customers' checks that have been received and are rightfully reported as cash on the date received, and the amount will not appear on the company's bank statement until a later date. A deposit in transit is also known as an outstanding deposit.

When there is a deposit in transit, the amount should be listed on the company's bank reconciliation as an addition to the balance per bank.

5 0
3 years ago
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