Which phrase best describes the income effect ?
a. the effect of demand and supply on in...
Business, 15.01.2020 20:31 CauseWhyNot6235
Which phrase best describes the income effect ?
a. the effect of demand and supply on income earned by producers
b. the impact of price on consumers' purchasing ability and decisions
c. the increased income earned by suppliers because of high prices
d. the impact of consumers' income on the supply of a product
Answers: 3
Business, 22.06.2019 03:20, limelight11
Yael decides that she no longer enjoys her job, and she quits to open a gluten-free, dairy-free kosher bakery. she pays a monthly rent for her store of $2,000. her labor costs for one month are $4,500, and she spends $6,000 a month on nut flours, sugar, and other supplies. yael was earning $2,500 a month working as a bank teller. these are her only costs. her monthly revenue is $14,000. which of the following statements about yael’s costs and profit are correct? correct answer(s) an accountant would say she is earning a monthly profit of $1,500. her implicit costs are $2,500 a month. an economist would tell her that she is experiencing a loss. her total costs are $12,500 a month. her explicit costs include the labor, rent, and supplies for her store. her economic profit is $1,500 a month.
Answers: 3
Business, 22.06.2019 07:40, tipbri6380
(a) what was the opportunity cost of non-gm food for many buyers before 2008? (b) why did they prefer the alternative? (c) what was the opportunity cost in 2008? (d) why did it change?
Answers: 3
Business, 22.06.2019 20:00, jaylennkatrina929
Which of the following is a competitive benefit experienced by the first mover firm in an industry? a. the first mover will be able to achieve a less steep learning curve. b. the first mover will be able to reduce the switching costs. c. the first mover will not have to patent its products or technology. d. the first mover will be able to reduce costs through economies of scale.
Answers: 3
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