look26goingjbgy

05.10.2020 • 

Business

Leyla and Larry Hartley of Columbus, Ohio have decided to start a family next year, so they are looking over their budget (illustrated in Table 3-5 as the "young married couple"). Leyla thinks that she can go on half-salary ($2,400 instead of $4,800 per month) in her job as a college textbook sales representative for about 18
months after the baby's birth; she will then return to full-time work
dback
a. Looking at the Hartley's current monthly budget, identify categories and amounts in their budget where they realistically might cut back $2,400. (Hint:
Federal and state taxes should drop about $600 a month ($7,200 annually) as their income drops

Ответ:

natalie1755

23.04.2020

Business

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See explanation

Explanation:

1. Inelastic demand occurs when a change in price doesn't really have an effect on the quantity of the goods demanded. Examples of products with inelastic demand are salt and prescription drugs.

2. Elasticity for demand helps in the determination of the prices of factors of production. It is also vital in knowing how price changes will affect the revenue of the firm.

3. Normal goods are the goods that when income increases, the demand for them increases as well e.g. household appliances

For inferior goods, when Income increases, their quantity demand reduces. These are common with extremely cheap products.

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