If demand of commodity increases with income

Assignment Help Business Economics

Reference no: EM13861730

If demand of a commodity increases with income,

A. The good is inferior.

B. The good is normal.

C. The good has no substitutes.

D. The good has no complements.

Reference no: EM13861730

Questions Cloud

When entrepreneurs are investing their own money : When entrepreneurs are investing their own money, how do they decide which projects they should undertake? When political decision-makers allocate the funds of others (taxpayers), how do they decide which projects to support? Explain.

Concepts of opportunity cost and trade-offs : Suppose the U.S. president is attempting to decide whether the federal government should spend more on research to find a cure for lung cancer. He asks you, one of his economic advisors, to prepare a report discussing the relevant factors he should c..

Develop a team presentation for your new client : Develop a team presentation for your new client to show how the existing product can be revamped for next year's product relaunch - Explain the general team process - Include two rules or guiding principles that the team followed in the creative pr..

What would a supply and demand analysis suggest : Waiting in line. Two hundred people are willing to wait in line to see a movie at a theater whose capacity is one hundred. Denote person i’s valuation of the movie in excess of the price of admission, expressed in terms of the amount of time she is w..

If demand of commodity increases with income : If demand of a commodity increases with income,

Normal good-the income and substitution effects : For a normal good, the income and substitution effects

Articles review-human terrrain project : Articles Review-Human Terrrain Project, Write a brief reflection--a few well-thought-out comments--on how these readings inform our understanding of any modern international or global events, situations, or issues

Write report essay about support for post release prisoners : Write a report essay about Support For Post Release Prisoners.

Graphically the equilibrium price and quantity : Find mathematically and graphically the Equilibrium price and Quantity? If the price is 10 Riyal, what kind of surplus we will have and how much is it? If the equilibrium price increased by one Riyal, what will be the quantity demanded?

User Account

All Pages