Assume that good X is a normal good. Suppose equilibrium moves from point A to point...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Assume that good X is a normal good. Suppose equilibrium moves from point A to point C. Which of the following is consistent with the change in equilibrium? A decrease in the number of buyers and an increase in business taxes. An increase in the number of buyers and a decrease in business taxes. An increase in the number of buyers and an increase business taxes. ) A decrease in the number of buyers and a decrease in business taxes. Figure 3-2 Price Good X Quantity Assume that good X is a normal good. Suppose equilibrium moves from point A to point C. Which of the following is consistent with the change in equilibrium? A decrease in the number of buyers and an increase in business taxes. An increase in the number of buyers and a decrease in business taxes. An increase in the number of buyers and an increase business taxes. ) A decrease in the number of buyers and a decrease in business taxes. Figure 3-2 Price Good X Quantity
Expert Answer:
Answer rating: 100% (QA)
The correct option consistent with the change in equilibrium from point A to point C is b An increas... View the full answer
Related Book For
Statistics For Business Decision Making And Analysis
ISBN: 9780321890269
2nd Edition
Authors: Robert Stine, Dean Foster
Posted Date:
Students also viewed these mechanical engineering questions
-
A kennel of 640 square feet is to be constructed as shown. The cost is $4 per running foot for the sides and $1 per running foot for the ends and dividers. What are the dimensions of the kennel that...
-
A box with an open top is to be constructed from a rectangular piece of cardboard with dimensions 12 in. by 20 in. by cutting out equal squares of side at each corner and then folding up the sides as...
-
A control chart for nonconformities is to be constructed with c 2.0, LCL = 0, and UCL such that the probability of appoint plotting outside control limits when c = 2.0 is only 0.005. (a) Find the...
-
What is the result of executing the following method? A. The declaration of name does not compile. B. The declaration of _number does not compile. C. The declaration of profit$$$ does not compile. D....
-
In what way does planning control the future?
-
At age 4 0 , Roscoe purchased an annuity from an insurance company for $ 4 2 2 , 4 0 0 . According to the terms of the contract, Roscoe will receive $ 5 , 0 0 0 per month for life beginning at age 6...
-
Exercise 3.58 describes a study in which college students found it unpleasant to sit alone and think. The same article describes a second study in which college students appear to prefer receiving an...
-
REPCO performs warranty repair work for name-brand kitchen appliances. REPCO bills appliance manufacturers on a costplus basis. It has a job-costing system that computes the cost of each order by...
-
Manvir had to make payments of $1,125 every 6 months to settle a $22,000 loan that he received at 4.52% compounded semi-annually. a. How long did it take to settle the loan?
-
A probability plot of 66 yr of peak discharges for the Kentucky River near Salvisa, Kentucky, is shown in Fig. P3-19 (a) What probability distribution is being used? (b) What are the mean and...
-
Problem 1. Assume we have a random sample of points (x1, Y),..., (x20, Y20) where Xi Yi = = i for all i. = a + xi + are random variables where &; ~N (0,02) and the e; are i.i.d. a, , are unknown...
-
Veronicas expense report was reviewed by her company, and she was accused of taking her best friend on a business conference to Paris and charging all expenses for both of them on a company credit...
-
The National Bureau of Economic Research (NBER) determines the dates when recessions begin and end. Most economists and policymakers accept these dates when analyzing recessions. On its website, the...
-
In March 1979 one of the worst nuclear accidents in the United States occurred at the Three Mile Island nuclear plant in Pennsylvania. One of the nuclear reactors (Unit 2) at the plant had a partial...
-
Plaintiffs operated a concession foods business called Festival Foods that provided food services at carnivals and festivals. The tangible assets of the business included a truck and servicing...
-
Online purchases are commonly governed by a sales contract between the online merchant and the consumer in the terms of use found as a link on the sellers home page. Often, purchasers are informed...
-
Mama Lils Butt-Kicking Peppers are sold for the retail price of $12 per jar at Whole Foods, who marks up the cost of the peppers 100%. Mama Lils pays a manufacturer representative a 10% commission on...
-
Independent random samples of sizes n1 = 30 and n2 = 50 are taken from two normal populations having the means 1 = 78 and 2 = 75 and the variances 21 = 150 and 22 = 200. Use the results of Exercise...
-
These data describe promotional spending by a pharmaceutical company for a cholesterol-lowering drug. The data cover 39 consecutive weeks and isolate the area around Boston. The variables in this...
-
This figure shows an estimated linear equation with 95% prediction intervals. Assume that the units of X and Y are dollars. (a) Visually estimate the intercept b0 and the slope b1. (b) Is se (b1)...
-
A down side to running a call center is the high turnover in the operators who answer calls. As an alternative, some companies have turned to homeshoring. Rather than have operators come to a call...
-
Do you know about the chart of accounts in your organization as it pertains to information you receive?
-
If you receive reports in the course of your work, do you believe that they are prepared for outside (third party) use or for internal (management) use? What leads you to believe this?
-
If so, is it similar to one of the three formats illustrated in this chapter? If not, how is it different?
Study smarter with the SolutionInn App