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TEA [102]
2 years ago
11

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

Business
1 answer:
Elena L [17]2 years ago
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.

You can learn more about law of supply at

brainly.com/question/26374465

#SPJ4

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A certain chicken company decides that it will become the market leader in the poultry business in five years with a 40 percent
Stolb23 [73]

Answer:

The correct answer is letter "E": goal.

Explanation:

Goals represent the objectives companies set to accomplish over a specific period and represent the reason why the firm takes several methodical steps towards achieving that mission. Goals can be <em>quantified </em>and <em>measured </em>to verify inf they are achievable.

5 0
3 years ago
Perteet Corporation's relevant range of activity is 3,600 units to 8,000 units. When it produces and sells 5,800 units, its aver
creativ13 [48]

Answer:

Total MFG Overhead  $ 20680

Explanation:

Perteet Corporation

Manufacturing overhead consists of Variable manufacturing overhead and Fixed manufacturing overhead.

Variable manufacturing overhead $ 1.40

Fixed manufacturing overhead $ 3.30

Manufacturing overhead per unit    $ 4.7

No of units =  4,400

Total MFG Overhead = 4.7 * 4400 =  $ 20,680

The manufacturing overhead costs do no not consists of Fixed selling expense, Fixed administrative expense ,Sales commissions and Variable administrative expense. Another way of finding the manufacturing overhead costs is subtracting the cost of direct materials and direct labor from the cost of goods sold.

Cost of Goods Sold $ 14.2

Direct materials $ 6.30

Direct labor $ 3.20

Variable manufacturing overhead $ 1.40

Fixed manufacturing overhead $ 3.30

Total Manufacturing Costs= $ 14.2

Less Direct Materials Cost= $ 6.3

Less Direct Labor Costs = $ 3.2

Mfg Overhead= $ 4.7

No Of Units = 4400

Total MFG Overhead = 4.7 * 4400= $ 20680

     

6 0
3 years ago
You want to be a millionaire when you retire in 35 years. a. How much do you have to save each month if you can earn an annual r
expeople1 [14]

Answer:

Monthly deposit= $164.24

Explanation:

Giving the following information:

Future value= $1,000,000

Interest rate= 0.118/12= 0.00983

Number of periods= 35*12= 420 months

<u>To calculate the monthly deposit, we need to use the following formula:</u>

FV= {A*[(1+i)^n-1]}/i

A= monthly deposit

Isolating A:

A= (FV*i)/{[(1+i)^n]-1}

A= (1,000,000*0.00983) / [(1.00983^420) - 1]

A= $164.24

7 0
3 years ago
Fresnas Designs Inc. is a company known for its quality interior decorations, customized service, and affordable prices. Given t
kicyunya [14]

Answer:

Earning Satisfactory Profits

Explanation:

Based on the information provided within the qeustion it seems that the management of Fresnas Designs Inc. bases its pricing policy on Earning Satisfactory Profits. This is basically when a company revolves all their decisions around trying to make a reasonable level of profits that is consistent with the level of risk that they face. Which is what Fresnas is doing by pricing their products reasonably as opposed to pricing them higher even thought hey can.

8 0
3 years ago
When evaluating a new project, firms should include in the projected cash flows all of the following EXCEPT:
saveliy_v [14]

Answer and Explanation:

b. Previous expenditures associated with a market test to determine the feasibility of the project, provided those costs have been expensed for tax purposes.

3 0
3 years ago
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