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2 years ago

In the product market of the circular flow model -

1 answer:

7 0

According to the circular flow model, the consumers buy finished products from firms in the product market.

Option D is the correct answer.

<h3>What is the circular flow model?</h3>

The flow of income through the economy of a country is described by an economic model called the circular flow model.

In the product market, the circular flow of funds is initiated from the household sector like consumers and ends in the business sector, that is, the firms, companies, or organizations. It simply means the flowing of money from consumers to firms when consumers purchase products from retailers.

Therefore, the purchase of products by consumers from firms in the product market under the circular flow model

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Summit Products, Inc. is interested in producing and selling an improved widget. Market research indicates that customers would

ladessa [460]

Answer:

b.$ 66

Explanation:

The question requires that Summit requires a return on sales of 25 %. To achieve that the cost of goods sold should be 75 %.

if the revised selling price is $ 88

the target cost price would be ( $ 88 * 75 %) % 66

7 0

3 years ago

Dexter loses his breach-of-contract case against micheletta in a georgia state trial court. dexter appeals to the state court of

Wittaler [7]

After Dexter appeals to the state court of appeals and loses again, he files his next appeal with the <u>Georgia Supreme Court</u>.

<h3>What is a Court hierarchy?</h3>

This refers to the arrangement of courts in the method through which appeal flows. If the judgement at the lower court is not satisfying, an appeal can be made to the higher court in order to get redress and justice.

In conclusion, the Supreme court is the highest court in the Georgia state after the Court of appeal.

Read more about Court system

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6 0

1 year ago

During a pandemic, an economy goes into a recession due to a decrease in aggregate demand. Assume the government creates a progr

den301095 [7]

The spending that would occur during the third round of spending if the marginal propensity to consume (MPC) was 0.6 will be $420 billion.

Increase in expenditure = $700 billion.

Marginal propensity to consume = 0.6

The amount of spending based on the information given will be:

= 0.6 × $700 billion

= $420 billion.

Therefore, the correct option is $420 billion.

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7 0

2 years ago

The manager at Vertical Wire Productions reported total sales revenue of $800,000. The variable expenses were $600,000, and ther

Brilliant_brown [7]

Answer:

$BEP_{dollars} = 500,000$

Explanation:

<u>The first step</u> will be get the contribtuion margin:

$Sales\: Revenue - Variable \:Cost = Contribution \:Margin$

800,000 - 6000,000 = 200,000

This is the amount after variables cost used to pay the fixed cost and make a gain.

Second, we calcualte the contribution margin ratio

$\frac{Contribution \:Margin}{Sales\: Revenue} = Contribution\: Margin\: Ratio$

200,000/800,000 = 0.25

Per dollar of sales 25 cents are available to pay the fixed cost.

Now, we calculate the break even point in dollars

$\frac{Fixed\:Cost}{Contribution\: Margin \:Ratio} = Break\: Even\: Point_{dollars}$

$\frac{125,000}{.025} = 500,000$

5 0

3 years ago

1) Markets and competition In a perfectly competitive market, all producers sell___________ goods or services. (perfectly identi

marishachu [46]

Answer:

The answers are,

1) Perfectly Identical

2) many

3)takers

4)false

Explanation:

Lettuce is a commodity that can't be differentiated much based on the product. It can be however, differentiated from branding, packaging, etc.

But since the Lettuce is a broad category, we can assume that it is a competitive market.

Perfectly competitive markets do not really exist in the real world and are more of a hypothetical scenario. However, knowing the concept allows businesses and governments to make sound economic decisions regarding production and consumption.

3 0

3 years ago