The x corporation produces a good called x that is a normal good

Comparative Statics - Supply & Demand Curves

Demand of a good is affected when price of related goods changes. Comment 0 Step 8 of 9 In Figure-3, initially demand of good X is D when price of good Y increases then consumers shifts its demand in favor of good X which shifts the demand of good X rightwards.

Therefore, demand for good X increases when price of good Y increases. Comment 0 Step 5 of 9 The diagram given below shows the effect of increase in the income of consumer on the demand curve of Good Y. It only shows that the consumption of good Y decreases when income of the consumer increases and consumption increases when income of consumer decreases.

Thus, when income of the consumer increases, the demand of good Y decreases from Q to Q 1 keeping price of good Y fixed. It is given that the good is normal, it means as income of the consumer falls, then real income of consumer decreases which causes decrease in demand of a commodity.

Comment 0 Step 6 of 9 c It is given that the good X and good Y are substitute goods which mean that consumer can use one good in place of other. The demand curve shifts left. The term inferior does not mean that good is of inferior or low quality.

Thus, when income of the consumer decreases, the demand of good X decreases from Q to Q 1 keeping price of good X fixed.

It is given that the good is inferior, it means as income of the consumer rises, then real income of consumer increases which causes decrease in demand of inferior commodity because now consumer can buy good quality product normal good.

Comment 0 Step 7 of 9 Similarly, when price of good Y increases then consumer shifts its demand towards good X which causes increase in the demand of good X. The diagram given below shows the effect of increase in the price of good Y on the demand of good X.

Comment 0 Step 4 of 9 b Demand of a commodity is affected when income of the consumer changes. Thus, the demand curve shifts left. Comment 0 Step 9 of 9 d No. Goods are substitutable in nature. Comment 0 Step 3 of 9 The graph given below shows the effect of decrease in the income of consumer on the demand curve of Good X.

Comment 0 Step 2 of 9 a Demand of a commodity is affected when income of the consumer changes.The X-Corporation produces a good (called X) that is normal good.

Its competitor, Y-Corp., makes a substitute good that it markets under the name “Y”. Good Y is an inferior good. a.4/4(1). The X-Corporation produces a good (called X) that is a normal good.

Its competitor, Y-Corp., makes a substitute good that it markets under the name "Y." Good Y is an inferior good.

Managerial economy tutorial 1 1. MANAGERIAL ECONOMICS: TUTORIAL #1 Presenters: Mr. X Mrs. Y 2. QUESTION 1 The X-Corporation produces a good (called X) that is a normal good.

Question 1 The X-corporation produces a good (called X) that is a normal good.

Its competitor, Y-Corpor., makes a substitute good that it markets under the name Y. Good Y is an inferior good. a. How will the demand for good X. The X-Corporation produces a good (called X) that is a normal good.

Its competitor, Y-Corp., makes a substitute good that it markets under the name “Y.”. The X Corporation Produces A Good Called X That Is A Normal Good. three to four hours, thus killing the insect and making the cocoon pliable for spinning.

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The x corporation produces a good called x that is a normal good
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