Answer:
Apples supply increase imply new equilibrium at lower price, higher quantity. Demand downwards expansion on the curve itself is due to lower price.
Explanation:
Market is at equilibrium where Market Demand = Market Supply, & downward sloping demand curve intersects upward sloping demand curve.
If supply of apples increase & supply curve shifts rightwards, there is Excess Supply at previous equilibrium. Excess Supply creates competition among sellers, reduces new market price.
At lower price, demand expands & supply contratcs. New Equilibrium quantity is higher where new (rightwards shifted) supply curve intersects demand curve.
Quantity demanded increases (expands - downwards movement on demand curve) due to lower price, despite of no change in demand.
<span>c. no competition.is the answer</span>
The net operating income as per the variable costing method is $14500
<u>Explanation:</u>
The unit product cost is = $18 + $10 + $4 = $32
Sales revenue ( $78 multiply with 8700 units) = $678600
Variable cost:
Variable cost of goods sold ( 8700 units multiply $32) = $278400
Variable selling and administartive (8700 units multiply $5) = $43500
contribution margin = $356700
fixed manufacturing overhead = $255200
Fixed selling and adminstrative expenses = $87000
Net operating income = $14500
<u>Note:</u> contribution margin is calculated after deducting sales revenue with variable cost
Answer:
a) Property
Explanation:
A property right is the exclusive or sole authority which determines the legal ownership of tangible and intangible resources and how these resources are to be used, whether by individuals or government.
Basically, properties can either be owned by the government, an individual or business entity. Some examples of a property include cars, land, houses, machines, books, inventions, mobile phones, ideas, birds, etc.
Hence, property rights refers to a set of rights to control a tangible or intangible thing.
