What is the role of disposable income on the demand of a product. Explain.

Q: 13. You are the manager of a supermarket, and you know that the income elasticity of peanut butter…

A: Income elasticity of demand means percentage change in quantity demanded divided by percentage…

Q: Is sugar and tea Substitute goods?

A: In a market, two goods, which are related to each other, can be complements or substitutes of each…

Q: The main objective of a supply chain is to maximize the overall value created. Briefly describe the…

A: A supply chain is the network of all the individuals, organizations, resources, activities and…

Q: If the price of chicken rises by 4%, the quantity of beef demanded would by %. rise

A: Price elasticity of demand refers to the % change in quantity demanded due to the % change in the…

Q: discuss why is supply and demand and important and how they affect fluctuating prices in the market

A: In economics, supply and demand are fundamental concepts that form the backbone of the market…

Q: Using the information in the application “The Big Freeze” about lettuce industry revenue, create a…

A: The demand curves represent the consumer's willingness to purchase a product given its price. It…

Q: would a person most likely spend the most money?

A: The portion of an individual's income involved in food, water , traveling and rent etc. constitutes…

Q: The following graph shows the market for loanable funds in a closed economy. The upward-sloping…

A: In loanable funds market, loanable funds demand curve depicts the inverse relationship between…

Q: d. Prov

A: Derived demand is the demand for a service or good which results from the demand for a different, or…

Q: Which consumption theory best explain the consumption behaviour of consumers in our economy

A: Consumption is using the product or service that is being produced in the society. There are several…

Q: Represent the supply of housing on a graph under two scenarios. First - an 'anything goe scenario in…

A: The equilibrium is the established where the demand and supply are equal. The change in the demand…

Q: The graph below shows the effect of a decrease in economic activity on the money market using a…

A: The money market equilibrium is determined by the money demand level in the economy and the money…

Q: What do you mean by contraction in supply

A: # There can be two changes in supply curve. Either the curve can shift left or right or there can be…

Q: As individuals we are simultaneously consumers and producers. Explain what this means

A: The law of demand establishes an inverse relationship between the price of a good and its quantity…

Q: Why is increase in price money likely to decrease the total revenue of seller in the long run than…

A: Total revenue of a seller is price times quantity of output sold.

Q: How is the demand for lumber affected by the demand for housing?

A: Lumber is a wood that is basically sold only for construction purposes. So, we can observe lumber…

Q: We are both consumers and producers as individuals. What does this mean? What would be the correct…

A: All other factors remaining constant, the law of demand establishes an inverse relationship between…

Q: Consider the following table that shows hypothetical purchases made over the last year in the United…

A:

Q: help please answer in text form with proper workings and explanation for each and every part and…

A: Scenario:There has been an increase in the US interest rateWhen US interest rates increase, foreign…

Q: What are the two main reasons why prices of goods increase?

A: The quantity of money, products, or services required to acquire a good or service is referred to as…

Q: I want to make sure this is correct

A: The intersection point of supply and demand curves refers as the equilibrium point. At this point P*…

Q: an example of derived demand is the demand for: a. machines by businesses b. agricultural products…

A: Demand for goods and services that are not being done for final consumption is derived demand.

Q: why is supply and demand and important and how they affect fluctuating prices in the market

A: In economics, supply and demand is a model that explains how prices are determined in a market. The…

Q: An increase in the expected price of corn would likely do the following to the current supply and…

A: There are various determinants that affect the demand and supply of good. Non price determinants…

Q: What can cause the demand curve to shift in? a. Increase in income b. Technological Decline C.…

A: The demand curve shows an inverse relationship between price and quantity demanded. Demand is a…

Q: In the following questions, give all your answers to two decimals. Patrice works as an economist for…

A: a.   Price elasticity is given by the following formula.% change in quantity demanded% change in…

Q: Can you please solve question 2?

A: The market value of all final goods and services produced in the economic territory of the country…

Q: Suppose that the graph below illustrates the market demand for burgers per month with an equilibrium…

A: The expression "quantity demanded" is used to describe the number of units of an item or service…

Q: 2. In an effort to encourage economic growth, the United States government has cut corporate income…

A: Law of Supply: There exists direct relationship between price and quantity supplied keeping other…

Q: 2. In economics, the supply of a product is the quantity of that product suppliers are willing to…

A:

Q: When TR falls, what happens to MR?

A: Total Revenue: The total revenue is the amount that comes after multiplying the price with the total…

Q: Consistent with the law of demand, a decrease in the interest rate: Select one: a. Does not change…

A: Law of demand states that keeping all other things constant there exists an inverse relationship…

Q: What is the Initial demand?

A: Demand is an economic concept that refers to the desire of a customer to buy products and services,…

Q: What are the factors that affect the supply of a good or service? Briefly explain each factor and…

A: Price - Price and quantity supplied are directly related. Increase in price leads to increase in…

Q: Purchase of tables and chairs by a restaurant is ___________ expenditure

A: the amount of money which spend on goods and services it is referred to be as consumption…

Public Saving

Public saving deals with the amount which has been in excess after meeting all the obligatory expenses and investment of the government. Taxes are collected by the government to meet its day-to-day expenditures. The obligatory expenses include all those expenses which are mandatory for the government. It cannot be avoided as it is inevitable.