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 3 nsumers' incomes rise? 1 answer: 7 0 The correct option is letter C. Both the equilibrium price and quantity would decrease. When the good in question are inferior, then with an increase in income, the demand for the good falls, as now the consumer would substitute the inferior good for the superior quality goods. The demand curve would shift inwards to the left and the price and quantity would fall. You might be interested in This given scenario is an example of keiretsu. <h3>What is a Keiretsu?</h3> This refers to the conglomerate of businesses that are linked together based on shared holdings and is a popular business term in Japan. Hence, we can see that based on the given scenario about the business partnership between Toyota and Tomo Tires, they work together on product development, finance, and marketing. This is an example of a keirestsu. Read more about Keiretsus here: brainly.com/question/23874305 #SPJ4 <span>He would apply for a variance. This would allow John to deviate from the current zoning laws as set by the location that he is living in. This variance would give John the ability to build his home to the dimensions required by the land, as well as still being able to meet the specifications he is wanting.</span> Answer: Explanation: INCOME STATEMENT Revenue $236,000 Variable cost $69,000 Rental Cost $49.000 Depreciation $29,000 Pretax profit $89,000 Taxes $17,800 Net incomes $71,200 Net Income 71200 Depr. Expense 29000 Increase in AR -236000 Increase in AP $ 135800 Operating Cash Flow 0 False... Answer: the annual due Explanation: Question 24-26 are based onTable 4Table 4Consider the town of Anywhere with only three residents, Mary, Bill, and Tricia.The three residents aretrying to determine how large, in acres, they should build the public park.The table below shows eachresident’s willingness to pay for each acre of the park.24. Refer to Table 4.Suppose the cost to build the park is $33 per acre.How many acres should the parkbe to maximize total surplus from the park in Anywhere? Get answer to your question and much more 25. Refer to Table 4.Suppose the cost to build the park is $16 per acre.How large should the park be tomaximize total surplus from the park in Anywhere?A. 2 acresB. 3 acresC. 4 acresD. 5 acresD 26. Refer to Table 4.Suppose the cost to build the park is $33 per acre and that the residents have agreedto split the cost of building the park equally.If the residents vote to determine the size of park to build,basing their decision solely on their own willingness to pay (and trying to maximize their own surplus),what is the largest park size for which the majority of residents would vote “yes?”
Get answer to your question and much more ************************************************************************************Question 27-29 are based onScenario 1Scenario 1Suppose a certain competitive firm is producing Q=500 units of output.The marginal cost of the 500thunit is $17, and the average total cost of producing 500 units is $12.The firm sells its output for $20. What happens to equilibrium price and quantity when consumer income increases?Solution: An increase in consumers' incomes increases the demand for computers. This increases the equilibrium price and equilibrium quantity.
How does equilibrium price and quantity get affected?A decrease in demand will cause the equilibrium price to fall; quantity supplied will decrease. An increase in supply, all other things unchanged, will cause the equilibrium price to fall; quantity demanded will increase. A decrease in supply will cause the equilibrium price to rise; quantity demanded will decrease.
What happens to equilibrium price and quantity when demand increases example?An increase in demand and a decrease in supply will cause an increase in equilibrium price, but the effect on equilibrium quantity cannot be detennined. 1. For any quantity, consumers now place a higher value on the good,and producers must have a higher price in order to supply the good; therefore, price will increase.
What will happen to the equilibrium price and quantity of beef if the price of chicken feed and therefore the price of chicken increases?What will happen to the equilibrium price and quantity of beef if the price of chicken feed increases? (Assume that chicken and beef are substitutes.) Both will increase.
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What would happen to the equilibrium price and quantity of macaroni and cheese if consumers incomes fall and macaroni and cheese is an inferior good?
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