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Hitman42 [59]
1 year ago
8

A 10 percent increase in income leads to a 15% decrease in the quantity of macaroni and cheese demanded but no change in the pri

ce of macaroni and cheese. From this information, what we can assume ?
Business
1 answer:
AlekseyPX1 year ago
6 0

Answer:

Macaroni and cheese is an inferior good.

Explanation:

From the information given in the question, we can assume that macaroni and cheese are considered as an inferior good for this consumer because there is an inverse relationship between the income level of this consumer and the quantity demanded for macaroni and cheese.

If there is 10% increase in the income of an individual then as a result quantity demanded of macaroni and cheese decreases by 15% and the price of this good remains constant. This shows that macaroni and cheese is an inferior good.

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Explanation:

When a country uses exchange controls, it limits the amount of foreign currency that can come into a country. This is usually done to ensure stability in the money market of the country as well as to improve the balance of payments for the country.

One way of implementing exchange control is for all foreign currency to go through the Central bank of the country. Should a citizen need access to foreign currency, they would need to apply to the central bank to access it. With India having an exchange control system, the Reserve Bank of India keeps all foreign currency and Advika would have to apply for it should she need it.

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3 0
2 years ago
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Teall Corporation has a standard cost system in which it applies manufacturing overhead to products on the basis of standard mac
erastova [34]

Answer:

$4,500 U

Explanation:

Teall Corporation

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Answer:

True

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Answer:

true

Explanation:

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