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2 years ago

Drawing a vertical line from the profit-maximizing output on horizontal axis to the demand curve represents the:_______

1 answer:

4 0

Drawing a vertical line from the profit-maximizing output on the horizontal axis to the demand curve represents the: price.

A demand curve is a graphical representation of the relationship between the price of a good or service and the quantity demanded over a period of time. In a typical representation, price is displayed on the left vertical axis and quantity demanded is displayed on the horizontal axis.

The demand curve descends from left to right. This represents the law of demand. If the price of a particular commodity increase, the quantity demanded will decrease, all other things being equal.

Note that this phrasing implies that price is the independent variable and quantity is the dependent variable. In most fields, the independent variable appears on the horizontal or x-axis, but economics is an exception to this rule.

Learn more about the Demand curve here : brainly.com/question/1139186

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You might be interested in

8.2 briefly describe the planning process. be sure to include summaries of the strategic, operating, and financial plans. 8.7 wh

stellarik [79]

Planning process can be dined as the process to plan for future that aids in the organisational success of the organization or within the healthcare market.

The process of carrying out our future plans of action in order to contribute to organisational success is known as planning. The fundamental beliefs that serve to define and establish the organization's basis are represented by its strategic organisational values.

The road map that carries out the organisational strategic strategy includes operating plans. It includes all of the guidelines required to achieve all goals. It includes advice on how to carry out a task successfully. The five-year plan is regarded as the financial plan. It focuses on the organization's overall financial health, investments, and funding. It gives a general summary of the company.

To know more about planning, refer to the following link:

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3 0

2 years ago

To get the best deal on a CD player, Tom called eight appliance stores and asked the cost of a specific model. The prices he was

Angelina_Jolie [31]

Answer:

$84.86

Explanation:

I'm guessing they want you to find the standard deviation.

It would be easy to do this in a statistical calculator, but I suspect they want you to do it by hand.

Here are the steps for a manual calculation.

1. Count the elements in the data set

N = 8

2 Calculate the sum of the data set

$\displaystyle \sum_{i = 1}^{8}x_{i} = 2011$

3. Calculate the mean

$\mu_{x} = \dfrac{2011}{8} = 251.375$

4. Calculate the standard deviation

(a) Subtract the mean from each data point

(b) Square the differences

(d) Divide the sum by the number of terms

(e)Take the square root of the result

We can set up a table to organize the calculations.

$\begin{array}{rrr}\mathbf{x} & \mathbf{x - \mu} & \mathbf{(x - \mu)^{2}}\\298 & 46.63 &2174\\125 & -126.38 & 15971\\411 & 156.93 & 254801\\157 & -94.38 & 8907\\231 & -20.38 & 415\\213 & -38.38 & 1473\\304 & 52.63 & 2769\\272 & 20.63 & 425\\\sum = \mathbf{2011} & & \mathbf{57614}\\\end{array}\\\\\sigma = \sqrt{\dfrac{ 57614}{8}} = \sqrt{7201.7} = \mathbf{\$84.86}$

3 0

3 years ago

Purchases$111,000 Freight-in 3,100 Sales 185,000 Sales returns 6,000 Purchases returns 4,500 In addition, the controller is awar

ivolga24 [154]

Answer:

Closing Stock = 38000

Explanation:

Net Sales = COGS + Gross Profit

Net sales = sales - sales return = 185000 - 6000 = 179000

Gross Profit = 60% of sales (as per gross profit ratio)

= 60% of 179000 = 107400

COGS = Opening Stock + Net Purchase + direct expenses - Closing Stock

* Net purchase = Purchase - purchase return = 111000 - 4500 = 106500

*Direct Expense = Freight Inwards = 3100

Putting all values in formula :- Net Sales = COGS + Gross Profit

179000 = (0 + 106500 + 3100 - closing stock) + 107400

179000 = 106500 + 3100 + 107400 - closing stock

179000 = 217000 - closing stock

closing stock = 217000 - 179000

closing stock = 38000

3 0

4 years ago

The funds dispensed at the ATM machine located near the checkout line at the Kroger's in Union Kentucky, follows a normal probab

Neporo4naja [7]

Answer:

0.00914 ; 0.0062 ; 0.9847

Explanation:

Given the following :

Normal distribution :

Mean(m) = $4200

Standard deviation (sd) = 720

Amount VERY low = < 2500

Amount very high = > 6000

a. What percent of the days will the bank be notified because the amount dispensed is very low?

x < 2500

Finding the z-score :

Z = (x - mean) / standard deviation

Z = (2500 - 4200) / 720

Z = - 1700 / 720 = −2.361111

P(z < −2.361111)

Locating −2.361111 on the z- distribution table

-2.3 under 0.06 = 0.00914

P(z < −2.361111) = 0.00914

B) What percent of the time will the bank be notified because the amount is very high?

x > 6000

Finding the z-score :

Z = (x - mean) / standard deviation

Z = (6000 - 4200) / 720

Z = 1800 / 720 = 2.5

P(z > 2.5)

Locating 2.5 on the z- distribution table = 0.9938

P(z > 2.5) = 1 - 0.9938 = 0.0062

c. What percent of the time will the bank not be notified regarding the amount of funds being dispensed?

P(2500 < X < 6000)

P(-2.36 < z < 0) + P(0 < z < 2.5)

= 0.4909 + 0.4938

= 0.9847

7 0

3 years ago

Arigold Inc. has been manufacturing its own finials for its curtain rods. The company is currently operating at 100% of capacity

Korolek [52]

Answer:

Arigold Inc's Finials' Incremental Analysis:

a-i) To buy Finials, the price is $13.16 per unit.

a-ii) To make Finials, the relevant cost per unit is calculated as follows:

Materials = $3.98 per unit

Labor = $4.78 per unit

Variable Overhead = 62% of Labour cost, = 0.62 x $4.78 = $2,96

Therefore, total cost per unit is $(3.98 +4.78 + 2.96) = $11.72

b) Comparing the purchase cost of $13.16 and the make cost of $11.72 per unit, Arigold Inc should not buy the Finials.

Even when the fixed manufacturing overhead is charged to the Finials, the total unit cost (absorbed) will be $13,14, which is still less than the make cost of $13.16 per unit.

Explanation:

Incremental Analysis is a business technique that assists in making decisions among choices as it shows the true differences between alternatives. It is also known as the relevant cost approach, differential, and marginal analysis.

In the case of Arigold Inc, we disregarded the sunk or fixed manufacturing overhead of $43,100. This is cost is not relevant in this type of decision because it would still be incurred no matter the decision taken.

5 0

3 years ago