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2 years ago

Demand for bikes has suddenly increased, and the

1 answer:

soldier1979 [14.2K]2 years ago

5 0

When the demand for bikes has considerably increased with a rise in price by $10, then the profit also increases by $10 on every bike sold.

<h3>What is meant by profit?</h3>

Profit is an incentive earned by a company by selling its products at a price higher than the original cost.

From the provided situation, it has been analyzed that there is a direct relationship between price and demand, which means an increase in demand leads to a rise in prices also. This will ultimately raise the profits of a company in respect of goods sold.

Therefore, the profits are also raised by $10 in a similar way as the rise in price by $10 due to an increase in demand for bikes.

Learn more about the economic profit in the related link:

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2 years ago

Would the management of a ﬁrm in an oligopolistic or in a competitive industry be more likely to engage in what might be called

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3 years ago

Barbara has $150 to open a checking account. Her employer will send her paycheck via direct deposit, but otherwise she wants to

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3 years ago

Read 2 more answers

A company purchased a weaving machine for $206,520. The machine has a usedul life of 8 years and a residual value of $11,000. It

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Answer:

The amount of depreciation expense that should be recorded for the second year is $28,600

Explanation:

The computation of the depreciation per units or bolts under the units-of-production method is shown below:

= (Original cost - residual value) ÷ (estimated production bolts)

= ($206,520 - $11,000) ÷ (752,000 bolts)

= ($195,520) ÷ (752,000 bolts)

= $0.26 per bolt

Now for the second year, it would be

= Production units in second year × depreciation per bolts

= 110,000 units × 0.26

= $28,600

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3 years ago