Which of the Following Events Would Cause Both the Equilibrium

question 246

Multiple Choice

Which of the following events would cause both the equilibrium price and equilibrium quantity of number two grade potatoes (an inferior good) to increase?

• A) an increase in consumer income
• B) a decrease in consumer income
• C) greater government restrictions on agricultural chemicals
• D) fewer government restrictions on agricultural chemicals

Apply linear models to practical problems, such as depreciation.

Understand the roles and responsibilities within a corporate finance department.

Identify the elements and functioning of financial markets and securities.

Recognize the differences between real and financial assets.

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Definitions:

Service

The action of helping or doing work for someone, often referring to activities provided by companies to fulfill customer needs aside from tangible products.

Operations

Encompasses all the activities and processes involved in running a business effectively, focusing on producing goods and providing services efficiently.

Outbound Logistics

The process involved in moving goods from a company to the end user, including warehousing, order fulfillment, and transportation.

Value-Chain Analysis

An analytical framework for identifying business activities that add value to the final product or service in order to gain competitive advantage.