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Anna35 [415]
2 years ago
13

Joe decided to start washing cars on his street. The other kids in the neighbourhood noticed Joe was making a lot of money washi

ng cars and decided to open their own car wash. When they opened their own car wash, the equilibrium price ________ and the equilibrium quantity ________.
Business
1 answer:
Norma-Jean [14]2 years ago
8 0

Joe decided to start washing cars on his street. The other kids in the neighborhood noticed Joe was making a lot of money washing cars and decided to open their own car wash. When they opened their own car wash, the equilibrium price decreased and the equilibrium quantity increased.

The price at which the quantity provided and demanded are equal is referred to as the equilibrium price. It is established by where the demand and supply curves cross. If more goods or services are produced than are needed to satisfy demand at the going rate, there is a surplus, which pushes prices lower.

Reduced demand will result in a drop in the equilibrium price and a reduction in supply. With everything else remaining constant, an increase in supply will result in a decrease in the equilibrium price and an increase in the amount required. The equilibrium price will increase as the supply declines, while the quantity needed will go down.

Learn more about equilibrium price and quantity here

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Why aren‘t magazine photos a good representation ofwhat a healthy person looks like?
Arte-miy333 [17]
Magazine photos are not a good representation of what a healthy person looks like because they often show pictures of people who has a skinny and or people who only has built or toned body without having to discuss other factors that should be considered such as mentally or psychologically. They are mostly focused on the physical appearance.
6 0
4 years ago
Oil Creek Auto has sales of $3,340, net income of $274, net fixed assets of $2699, and current assets of $836. The firm has $417
Rom4ik [11]

Answer:

inventory = 0.125

Explanation:

It is asking us to express the inventory as a percent of sales

Th common-size statement refer to express each valeu a percent of sales:

Sales            3,340   100.000%

income           274         8.234%  (274 divided by 3340 times 100)

fixed assets 2,699      80.809%

current assets 836     25.030%

Inventory         417       0.12485  (417/3,340)

the answer should be a decimal so we don't covert to percent.

8 0
3 years ago
Allen visits Reno, Nevada, once a year to gamble. This year his gambling Critical Thinking loss was $25,000. He commented to you
sveticcg [70]

Answer:

The answer is: If Allen is a professional gambler, he can use his gambling losses to offset the income from his gambling activities.  

Explanation:

We can consider the airfare and hotel expenses as income part of Allen's income (+$3,000) but since he lost more money in the casino (-$25,000), the net effect is an economic loss (-$22,000).

That economic loss isn't tax deductible unless he was a professional gambler, then he could offset his income by $22,000.

5 0
4 years ago
Mark Price, the new productions manager for Speakers and Company, needs to find out which variable most affects the demand for
Levart [38]

Answer:

Tremendous friend, I ask you and you only give 5 points, I can't help you

Explanation:

4 0
3 years ago
A(n) _________________ business changes basic inputs into products that are sold to customers. a.manufacturing b.enterprise c.re
N76 [4]

A manufacturing business changes the basic inputs into products that are sold to the customers.

The manufacturing business is in charge of manufacturing the goods for the entire country. It takes input from the economy as raw materials and processes or manufactures it and then gives the output back to the company. A very simple example of this is steel rods. The manufacturing company changes the basic inputs of steel into products which are steel rods.

An enterprise is a business or a company that runs its own business. Retail is a type of business that buys goods from wholesalers and sells them to customers. Service is the work that is done by professionals like doctors. None of these actually make their own goods to sell back to the customers. They only sell other goods or services without manufacturing anything new.

Learn more about manufacturing business here:

brainly.com/question/3312786

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4 0
1 year ago
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