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2 years ago

The difference between a change in supply and a change in the quantity supplied is that the latter is:.

1 answer:

5 0

A change in quantity supplied is a movement along the supply curve, while a change in supply is a shift in the supply curve.

<h3>What is a supply curve?</h3>

The supply curve is a positively sloped curve that shows how quantity supplied changes with price of the good. All things being equal, the higher the price of the good, the higher the quantity supplied.

<h3>What is a change in supply and a change in quantity supplied?</h3>

A change in quantity supplied is as a result of a change in the price of the good. If price increases, quantity supplied increases and if it decreases, quantity supplied decreases.

A change in supply is caused by other factors other than price. Some of these factors include:

A change in the number of suppliers
The cost in the price of raw materials needed in the production of the good.

A change in supply leads to a movement outward or inward.

To learn more about supply curves, please check: brainly.com/question/26073189

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Toronto-based Mercedes-Benz Canada, with a network of 55 dealers, did not know enough about its customers. Dealers provided cust

frutty [35]

<u>Explanation:</u>

Mercedes-Benz adopts a method where the dealers are the only contact with the customers and company has failed to communicate with the customers directly.

Customer Relationship Management (CRM) is a tool that can be utilized by the company for easier day to day work. The information can be kept up to date which is easy to import, export and apply statistics to find information. The information can be accessed by Mercedes from anywhere. It helps to connect with the customers.

Another tool Partner Relationship Management (PRM) is used to connect with partners. The tasks can be scheduled and performance can be managed. Information and report details can be shared with the help of CRM and PRM from dealers and partners with Mercedes.

6 0

3 years ago

Which of the following most correctly demonstrates the opportunity cost of

Svetllana [295]

The opportunity cost of choosing to live in a rural area instead of an urban area is the accessibility to greater choices which is in terms of entertainment, food, and shopping. Thus, statement B is correct.

<h3>What do you mean by opportunity cost?</h3>

In microeconomic theory, the opportunity cost of a particular activity alternative is the loss of price or advantage that could be incurred through engaging in that activity, relative to engaging in an alternative activity providing a better return in value or advantage.

The opportunity cost of choosing to live in a rural area instead of an urban area is the accessibility to greater choices in terms of entertainment, food, and shopping. Thus, statement B is correct.

Learn more about Opportunity cost here:

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3 0

1 year ago

In 2008, Cameron began his career with SBC. His starting salary was $32,000. By 2012, his salary increased to $35,000. If the CP

frez [133]

Based on the CPI in 2008 and 2012, Cameron's 2012 real income is <u>$34,400</u>.

<h3>What is real income?</h3>

The real income is the inflation-adjusted income. It is not the same as the nominal income.

For instance, Cameron's nominal income in 2012 is $35,000, but the inflation-adjusted (CPI) real income should be $34,400 based on his starting salary of $32,000 in 2008.

<h3>Data and Calculations:</h3>

Starting salary in 2008 = $32,000

Salary in 2012 = $35,000

Consumer Price Index (CPI) in 2008 = 100.0

Consumer Price Index (CPI) in 2012 = 107.5

CPI adjusted salary in 2012 should be (real income) = $34,400 ($32,000 x 107.5/100.0)

Thus, based on the CPI in 2008 and 2012, Cameron's 2012 real income is <u>$34,400</u>.

Learn more about CPI and real income at brainly.com/question/24802187

8 0

2 years ago

Crane Company's accounting records reflect the following inventories: Dec. 31, 2017 Dec. 31, 2016 Raw materials inventory $21000

TiliK225 [7]

Answer:

$910,000

Explanation:

Given the above information, total raw materials available for use during 2017 is calculated below;

= Beginning raw materials + Purchases

Beginning raw materials = $210,000

Purchases = $700,000

Then,

Total raw materials available for use during 2017 for Crane company

= $210,000 + $700,000

= $910,000

5 0

2 years ago

Agassi Company uses a job order cost system in each of its three manufacturing departments. Manufacturing overhead is applied to

gregori [183]

Answer:

See solution below

Explanation:

• Predetermined overhead rate for Department D

= Estimated Manufacturing overhead / Estimated Direct labor cost

Manufacturing overhead = 990,000

Direct labor cost = 1,237,500

= (990,000/1,237,500) × 100

= 0.8 × 100

= 80%

• Predetermined overhead rate for department E

= Estimated Manufacturing overheads/Estimated Direct labor hours

Manufacturing overheads = 1,750,000

Direct labor hours = 125,000

= 1,750,000/125,000

= $14 per labor hour

• Predetermined overhead rate for department K

= Estimated Manufacturing overheads/Estimated Machine hours

Manufacturing overheads = 1,080,000

Machine hours = 120,000

= 1,080,000/120,000

= $9 per machine hour

5 0

3 years ago