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1 year ago

According to the law of supply - as the price of a good - service - or resource rises:______.

1 answer:

6 0

According to the law of supply - as the price of a good - service - or resource rises: it results in an increase in the quantity supplied.

Law of supply has direct relation with prices and quantity supplied.

Prices and quantities are directly linked with one another. Quantities respond in the same way as price does. It means that when the price paid by the buyers for goods and services increases the supplier increases the supply of goods and services as well. The law of supply basically shows producer behavior when there is a change in the price of products offered by them.

As the basic aim of every business organization is to increase profit and sales when they expect to receive higher profit from something they produce more to earn more profit. Similarly, if the prices fall the producers are reluctant to produce more. If the demand from consumers rises the prices will increase and the quantity supplied will also increase. If the demand decreases price will also fall and the quantity supplied will also decrease.

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A production function is a relationship between:____.a. inputs and profit. b. inputs and quantity of output. c. inputs and reven

Dahasolnce [82]

Answer:

b. inputs and quantity of output

Explanation:

A production function is a relationship between inputs and the quantity of output. In other words, it is the entire production process that goes into creating a product. This includes the specific materials that need to be inputted into the process in order for the output to be exactly as needed in order for the product to come out as desired and the right quantity. Thus, creating a relationship between input and output

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3 years ago

Your college bookstore is responsible for the gathering, sorting, and dispersing of books required for a literature course on ca

Nataly [62]

The function of <em>gathering, sorting, and dispersing</em> books required for a literature course by the college bookstore is an example of <em>b. logistical functions that intermediaries perform.</em>

The bookstore is an intermediary between the students (customers) and the publishers (suppliers) of the literature book. The bookstore <em>is not performing a transactional, transitional, or facilitating function. </em>

Thus, the college bookstore performs a logistical function by managing the <em>inventory, transportation, and warehousing needs</em> of the college.

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5 0

2 years ago

Matt is considering the purchase of a condo on a mortgage. However, he is not sure on the amount of mortgage he is eligible for.

Rudiy27

Answer:

A. Prequalification

Explanation:

First, the Options to the Question

a. Prequalification

b. A contingency clause

c. A Multiple Listing Service

d. Due diligence

What is a PreQualification in Mortgage Processing

Because most persons who are interested in buying a home do not have hundreds of thousands of dollars in cash to purchase the home of their dreams, the concept of mortgage is to approach a lender who will then advance the needed sum for the purchase and then the borrower will pay the advanced sum over some time (most times up to 30 years) at an interest rate.

A PreQualification is a process through which the lender evaluates the creditworthiness of the borrower and also decide the amount of loan the borrower is entitled to. This is done through the financial documents and records made available to the lender by the borrower

One important takeaway from a prequalification is that it is an approximation of what a borrower is entitled to base solely on the information given to the lender. It is, therefore, an approximation which can be less or more when the official application for the loan is submitted.

As stated in the question, getting a prequalification helps Matt to identify and understand the areas of problems and credit report errors that may arise and then he can use the prequalification information to attend to these errors and ensure a proper application is submitted that will allow him to maximise the amount of loan that can be made available to him.

Once Matt has corrected errors and identified problems that may arise on his mortgage application, he then gathers the relevant document and goes for the first formal process in mortgage processing which is the preapproval.

6 0

3 years ago

Read 2 more answers

Assume University Athletic Pharoah Club sells T-shirts for $30 and anticipates selling 6,700 shirts during football season. The

den301095 [7]

The preparation of the University Athletic Pharaoh Club's Income Statement in the contribution margin format is as follows:

University Athletic Pharaoh Club

<h3>Income Statement</h3>

For the football season

Sales Revenue $201,000

Variable cost of sales 155,574

Contribution margin $45,426

Fixed Costs:

Selling and administrative 33,526

Net Income $11,900

<h3>Data and Calculations:</h3>

Sales revenue = $201,000 ($30 x 6,700)

Cost of sales = $155,574 ($23.22 x 6,700)

Fixed Costs = $35,000

Sales commission = $1,474 ($0.22 x 6,700)

Remaining fixed costs = $33,526

Thus, the income statement of University Athletic Pharaoh Club for the football season shows a net income of $11,900.

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3 0

2 years ago

g Brandon and Jane Forte file a joint tax return and decide to itemize their deductions. The Fortes' income for the year consist

murzikaleks [220]

Answer:

$1,500

Explanation:

Investment interest expenses = Interest Income + Non qualifying dividends

Investment interest expenses = $500 + $1,000

Investment interest expenses = $1,500

$1,500 < $2,500 (Investment interest expenses)

The long term capital gains are not considered in investment income because this income is taxed at a preferential rate. Hence, the Investment interest expenses deduction for the year is $1,500.

8 0

3 years ago