FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

CHISE ONLY Suppose, the demand for potato increases as income of the consumers decreases and demand decreases as income increases. Analyze what type of a

CHISE ONLY

Suppose, the demand for potato increases as income of the consumers decreases and demand decreases as income increases. Analyze what type of a product is potato?

a.

Normal product

b.

Complimentary product

c.

Inferior product

d.

Substitute product

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Economics questions

Question

=+4.16. 2.18 1 Reconsider Problem 2.18(d). If D were countably additive on f(./), it would extend to ar(./). Use the second Borel-Cantelli lemma.

Answered: 1 week ago

Question

★★★★★
1. What financial risks is Vicky assuming? 2. What are the risks that are specific to renting motor scooters? 3. What are the risks specific to motor scooters, as physical assets? 4. What risks will...

Answered: 1 week ago

Question

★★★★★
You work as an IT support technician for a boss who believes you are really bright and can solve just about any problem he throws at you. He is concerned about downtime and potential data loss if the...

Answered: 1 week ago

Question

★★★★★
As a representative dealer in a bank, you have just sold a European put option. (a) Explain the risk faced by the bank if you do not hedge this option. (b) How does the bank dynamically delta hedge...

Answered: 1 week ago

Question

★★★★★
Betsy really likes working at Thompson Trucking. She likes how things are in the office and can't figure out why Rachel is always getting so upset about the turnover rate of foreign workers. Betsy...

Answered: 1 week ago

Question

★★★★★
3. Nat Ltd purchases a 100 per cent interest in Angourie Ltd. The cost of the acquisition is $1 400 000 plus associated legal costs of $70 000. As at the date of acquisition, the statement of...

Answered: 1 week ago

Question

★★★★★
Please help me with the following questions. 1. Part A The distance to a particular star, as measured in the earth's frame of reference, is 7 79 ly (1 light year is the distance light travels in 1 y...

Answered: 1 week ago

Question

★★★★★
PR 4-5 Accounting cycle 8. Net income: $68,130 217 OBJ. 4, 5 For the past several years, Samantha Hogan has operated a part-time consulting business from her home. As of July 1, 20Y9, Samantha...

Answered: 1 week ago

Question

★★★★★
An article posted by the Canadian Visa Organization regarding the cost of living in Canada in 2021 stated that Canadians spend most of their salary on paying house rent or housing mortgages....

Answered: 1 week ago

Previous Question Next Question