You're an entrepreneur and had a great idea to sell shoes that have springs installed in them to make walking easier. However, the development costs were so high that the shoes are priced 15 times higher than shoes without springs. As a result, many of the shoes have gone unsold. What possible event could eliminate the disequilibrium in the market for shoes?
A. A study reveals that shoes with a spring can increase the chance of a broken leg.
B. There is an increase in income and "spring shoes" are a normal good.
C. There is an increase in income and "spring shoes" are an inferior good.
D. There is a decrease in the price of rubber, which is an input in the production of shoes.
B. There is an increase in income and "spring shoes" are a normal good.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “You're an entrepreneur and had a great idea to sell shoes that have springs installed in them to make walking easier. However, the ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Which of the following is the smallest? O A. A pinhead OB. Arounded bacterium O c. A microscope OD. A rod-shaped bacterium
Answers (1)
Jill and Jack both have two pails that can be used to carry water down from a hill. Each makes only one trip down the hill, and each pail of water can be sold for $4. Carrying the pails of water down requires considerable effort.
Answers (1)
Select the statement that is NOT a component of a standard housing lease. A) Type of pets allowed. B) The monthly cost of rent. C) What repairs are the renter's responsibility. D) Purchasing homeowner's insurance.
Answers (2)
Which of these BEST describes a situation in which a country has a "trade deficit"? A) their inflation exceeds 1% Eliminate B) their unemployment exceeds 6% C) their exports exceed their imports D) their imports exceed their exports
Answers (2)
Justification for the method of determining periodic deferred tax expense is based on the concept ofa. Matching of periodic expense to periodic revenue. b. Objectivity in the calculation of periodic expense. c. Recognition of assets and liabilities.
Answers (1)
New Questions in Business
g Automatic stabilizers a. increase the problems that lags cause in using fiscal policy as a stabilization tool. b.
Answers (1)
Which term is used to describe the amount of biologically productive land/sea area necessary to support the lifestyle of an individual?
Answers (1)
Which of the following options has drastically reduced the costs of operating and transacting on a global scale? A. Internet B. Social network C. Intranet D. Extranet E. Value network
Answers (1)
In year 1, the Consumer Price Index was 120 and the average nominal income was $30,000. In year 2, the Consumer Price Index was 125 and the average nominal level of income was $32,000. What happened to real income from year 1 to year 2?
Answers (1)
Coral Think Inc. is a new company in the publishing industry. It has raised sufficient capital from multiple sources. It is planning to use its capital to purchase certain assets.
Answers (1)