Questions 1-4 Question 3 (1 point) If a good is inferior, then there will be a decrease
Fantastic news! We've Found the answer you've been seeking!
Question:
Questions 1-4
Transcribed Image Text:
Question 3 (1 point) If a good is inferior, then there will be a decrease in supply. an increase in income will have no affect on demand. an increase in income will increase demand. an increase in income will reduce demand. Question 4 (1 point) Which of the following would cause a decrease in supply for chicken? A decrease in the price of chicken An increase in technology An increase in the price of hamburger, considered a substitute to chicken An increase in input prices for chicken Question 3 (1 point) If a good is inferior, then there will be a decrease in supply. an increase in income will have no affect on demand. an increase in income will increase demand. an increase in income will reduce demand. Question 4 (1 point) Which of the following would cause a decrease in supply for chicken? A decrease in the price of chicken An increase in technology An increase in the price of hamburger, considered a substitute to chicken An increase in input prices for chicken
Expert Answer:
Answer rating: 100% (QA)
Q1 C A rise When prices increase consumers are less likely to purchase the same quantity of goods an... View the full answer
Related Book For
Macroeconomics Principles and Applications
ISBN: 978-1133265238
5th edition
Authors: Robert e. hall, marc Lieberman
Posted Date:
Students also viewed these economics questions
-
Multiple Choice Questions Items 1 through 4 require use of present value tables. The following are the present value factors of $1 discounted at 8% for one to five periods. Each item is based on 8%...
-
Questions 1 2 3 4 A few years out of UCCS and you're earning a salary of $125,000 and decide to buy your first condominium (a condominium, or condo, is just an apartment that you own). The condo will...
-
Questions 1 through 8 are typically found in questionnaires used by auditors to obtain an understanding of internal control in the acquisition and payment cycle. In using the questionnaire for a...
-
Match the phrase that follows with the term (a-e) it describes. estimates the number of units to be manufactured to meet sales and inventory levels integrated set of operating and financing budgets...
-
1. Discuss at least three pros and cons of reverse auctions for buyers. Do the same for suppliers. 2. How can a supplier succeed in reverse auctions? How can it avoid them altogether? In todays...
-
Explore the TCO calculator shown in Figure C-1 that Amazon.com provides for estimating value in migrating to the cloud using their AWS infrastructure for a hypothetical product. Comment on the...
-
Timothy Muse opened a law office on October 2, 2010. During the first month of operations, the business completed the following transactions: Requirements 1. Open the following T-accounts: Cash,...
-
Can a creditor of both the husband and wife under the same obligation obtain an execution against a Winnebago mobile home owned by the husband and wife in tenancy by entirety?
-
1.Describe the Pure Expectation Theory. Give an example. 2.Discuss the concept of Default Risk Premium? Give an example. 3.How does Default Risk Premium affect market interest rates. Give an example....
-
GWE in store retail is considering closing stores to save a further 20% next year. Given current figures, how many stores would you expect GWE to close? GWE Profit and Loss for (Year 1) Asia...
-
What are your best tips to avoid plagiarism in research reports? How can you prevent plagiarism in group projects?
-
Kern, C., & Jungbauer, J. (2022). Long-Term Effects of a Cult Childhood on Attachment, Intimacy, and Close Relationships: Results of an In-Depth Interview Study. Clinical Social Work Journal , 50...
-
In March, Blossom Company had the following unit production costs: materials $12 and conversion costs $10. On March 1, it had no work in process. During March, Blossom completed and transferred out...
-
ABC software is a critical component of an ABC system implementation. ABC software produces the results that will be used by decision makers. Thus, the capabilities of ABC software are extremely...
-
On 1 / 1 / 2 0 , Macho Corp. pays $ 1 0 , 0 0 0 cash for a machine. The salvage value of the machine is $ 2 , 6 1 2 . 1 8 . The estimated useful life of the machine is 1 0 years. Macho depreciates...
-
The ACE Publishing Company is printing a textbook for a course in production control. They estimate the demand to be 12000 books per year. The inventory carrying costs are estimated at $2/book/year,...
-
4. (35) (C01, CO2, CO3, CO4, CO5) How do you design the biodiversity-mapping networks? Use suitable illustrations, (PO1, diagrams, and flowcharts. PO2, PO3, PO4) Suppose you are working in the forest...
-
Write a function that reads a Float24_t value: Float24_t float24_read(void) A legitimate float24 value string is of the form: "mantissabexponent" where the mantissa (m) and the exponent (e) may have...
-
In Figure, we assumed that when Maxs income rose, his marginal utility values for any given number of movies or concerts remained the same. But now suppose that when Maxs income rises, having the...
-
Suppose a single-price monopolys demand curve is given by P = 20 4Q, where P is price and Q is quantity demanded. Marginal revenue is MR = 20 8Q. Marginal cost is MC = Q2. How much should this firm...
-
Assume that the firm shown in the following table produces output using one fixed input and one variable input. a. Complete this table and use it to find this firms short-run profit-maximizing...
-
Which one of the following is an exact straight line mechanism using lower pairs? (a) Watt's mechanism (b) Grasshopper mechanism (c) Robert's mechanism (d) Peaucellier's mechanism.
-
In the epicyclic gear train shown in the Fig. \(88, T_{A}=40, T_{B}=20\). For three revolutions of the arm, the gear \(B\) will rotate through (a) 6 revolutions (b) 2.5 revolutions (c) 3 revolutions...
-
Which one of the following statements in respect of involute profiles for gear teeth is not correct? (a) Interference occurs in involute profiles (b) Involute tooth form is sensitive to change in...
Study smarter with the SolutionInn App