If the demand for steak (a normal good) shifts to the left, the most likely reason is that consumer income has fallen.
<h3>What is a normal good?</h3>
Normal goods are goods that are goods whose demand increases when income increases and falls when income falls.
The demand curve shows the relationship between price and quantity demanded. A shift to the left of the demand curve indicates that demand has decreased.
To learn more about normal goods, please check: brainly.com/question/2934596
#SPJ1
Answer:
The correct answer is the option C: there are many substitute goods available for a product, and they have a long time horizon to adjust their consumption.
Explanation:
To begin with, the concept known as <em>''price-responsive'' </em>in the marketing field and in the business world refers to the ability by the consumers to adjust their consumption behavior regarding the prices that are being charged by the company in order to control the use of the good itself and therefore to avoid paying high prices. Moreover, it is understood that in this theory scheme the consumers are adaptative to the services price changes that the company tends to do.
Answer: Variable cost pricing
Explanation:
Marianne wants to sell in Mexico by setting the selling price in such a way that she adds the total variable cost to the markup. This way she would meet her cost and gain some level of profit.
Answer:
progressive elaboration
Explanation:
progressive elaboration is an important part or step of project management plan, it is the process of continously updating, improving and detailing a project management plan, or part of it as new specific information becomes available. it is use to improve the project management plan
