Business, 21.11.2019 03:31 fitzsimmonssheovgrbh
Consider a scenario where the demand is estimated to be represented by the following equation: ,
qx = 1000 - 10px + 0.1i + 10py
where px is the price of x, i represents the income of the consumer, py is the price of another related in consumption good, and qx is the quantity demanded of x. based on this, what can be concluded about the relationship between good x and y?
a), they are substitutes in consumption
b), they are complements in consumption
c), they are unrelated in consumption
d), there is not enough information provided to make any conclusion
Answers: 2
Business, 22.06.2019 16:30
Penelope summers received certain income benefits in 2018. she received $1,400 of state unemployment insurance benefits, $2,000 from a federal unemployment trust fund and $3,700 workers’ compensation received for an occupational injury. what amount of the compensation must penelope include in her income
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Business, 22.06.2019 20:00
In myanmar, six laborers, each making the equivalent of $ 2.50 per day, can produce 40 units per day. in china, ten laborers, each making the equivalent of $ 2.25 per day, can produce 48 units. in billings comma montana, two laborers, each making $ 60.00 per day, can make 102 units. based on labor cost per unit only, the most economical location to produce the item is china , with a labor cost per unit of $ . 05. (enter your response rounded to two decimal places.)
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Business, 22.06.2019 21:30
Which of the following results in an increase in the standard of living? a. an increase in unemployment pushes down the cost of production. b. wages go up to correct for the inflation of prices. c. income increases, enabling consumers to buy more goods and services. d. rising production costs drive up the price of goods and services.
Answers: 1
Consider a scenario where the demand is estimated to be represented by the following equation: ,
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