Answer:
A). The price of gasoline increased in coastal cities since gasoline was harder to find.
Explanation:
As per the principles of demand and supply, a decrease in supply while demand remains constant will cause the price to increase. In Georgia, the supply of gasoline was interrupted by the storm's effect. There was little gasoline coming in, leading to a shortage. After Electricity went off, gasoline demand must have gone high as people needed fuel for generators.
Gasoline has no close substitutes, especially when used as fuel for cars and generators. A shortage results in the scramble for the little available products. Sellers hike prices to maximize profits, and buyers are willing to pay more to get the scarce gasoline, thereby increasing its prices.
Answer:
Option "3" is the correct answer.
Explanation:
Inelastic demand curve depict when there's no evident increase in demand due to an increase in price.
The answer to the question above is Re-sellers. not to mention the question above stating that a firm sells goods that is purchased for a re-sale automatically refers to the Re-sellers. The Re-sellers can be a retailer that sells to the end users or sells to other business firms like the whole seller. basically the term Re-seller is a firm that who buys product lesser in the market and sells it with added value.
Answer:
Wayman Corporation
Multiple-step income statement
Sales $425,000
Less: Cost of goods sold <u>$135,000</u>
Gross Profit $290,000
Operating Expenses
Salary Expenses $45,000
Utility Expenses $55,000
Advertising Expenses <u>$35,000</u>
Total Operating Expenses <u>($135,000)</u>
Net Operating Income $155,000
Other Income and Expenses
Interest expense <u>$25,000</u>
Net Income before Tax $130,000
Income tax expense <u>$55,000
</u>
Net Income <u>$75,000</u>
