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2 years ago

A negative relationship between the quantity demanded and price is called the law of:.

Business

1 answer:

vovangra [49]2 years ago

7 0

Answer:

the law of demand

Explanation:

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Sheffield Suppliers reported cost of goods sold for 2017 of $690,000 and retained earnings of $1,250,000 at December 31, 2017. S

TEA [102]

Answer:

Adjusted COGS = $706,800

Adjusted retained earnings = $1,185,200

Explanation:

Opening stock + purchases - Closing stock = Adjustment needed to COGS

- 48,000 + 0 - (-64,800) = Adjustment needed to COGS

-48,000 + 64,800 = Adjustment needed to COGS

Adjustment needed to COGS = $16,800

Adjusted COGS = $690,000 + $16,800 = $706,800

Adjusted retained earnings = $1,250,000 - 64,800 = $1,185,200

5 0

3 years ago

Why is it important to be informed about economic activity

Dennis_Churaev [7]

Because it just is ok

7 0

3 years ago

If sellers of scarce resources are not allowed to increase prices to equilibrate supply and demand after a disaster, how do you

labwork [276]

Answer:

Explanation:

During a natural disaster, resources should be allocated to among the population on a basis of necessity and with a specific limit per individual. For example, items such as food and water should be provided to each individual evenly while other items such as bandages and medicine should be allocated on the basis of necessity. This means that if an individual does not need the item to survive and as an emergency then they should not be given the item/resource. This would be the best and most efficient way to distribute resources during a natural disaster.

4 0

3 years ago

Creek Co. uses the percentage of credit sales method in determining its bad debt expense. The following information comes from t

Afina-wow [57]

Answer:

b. $22.500.

The estimate of bad debt expense is $22,500

Explanation:

Method of Bad Debt estimation = Percentage of credit sale

Bad Debt Expense = 3% of credit sale ($750,000)

Bad Debt Expense = 3% x $750,000

Bad Debt Expense = $22,500

5 0

3 years ago

Use the production function: Q = 4L1/2K1/2. Refer to Scenario 3. Suppose that the price of labor is $5 and the price of cap

inn [45]

Answer:

100 labor will be hired to minimize the costs of producing 200 units of output.

Explanation:

Maximising profit

Profit (Pr) = P*Q - Cost

= P*Q - 5L - 20K

= P*4(LK)^0.5 - 4L - 20K

dPr/dL= P*2(K/L)^0.5 - 4 = 0

dPr/dK = P*2(L/K)^0.5 - 20 =0

We know equilibrium condition

MPL/MPK = w/ r

= 5/20

= 0.25

MPL = 2(K/L)^0.5 MPK = 2(L/K)^0.5

K/L = 0.25

K = 0.25L

200 = 4(0.25L^2)^0.5

=4*0.5*L

L = 100

Therefore, 100 labor will be hired to minimize the costs of producing 200 units of output.

7 0

4 years ago