Answer:
Recall, that we represent economic laws and theory using models; in this case we can use a demand schedule or a demand curve to illustrate the Law of Demand. The demand schedule shows the combinations of price and quantity demanded of apples in a table format. The graphical representation of the demand schedule is called the demand curve
When graphing the demand curve, price goes on the vertical axis and quantity demanded goes on the horizontal axis. A helpful hint when labeling the axes is to remember that since P is a tall letter, it goes on the vertical axis. Another hint when graphing the demand curve is to remember that demand descends.
The demand curve reflects our marginal benefit and thus our willingness to pay for additional amounts of a good. It makes sense that our marginal benefit, or willingness to pay for a good, would decline as we consume additional units because we get less additional satisfaction from each successive unit consumed. For example, at lunch time you decide to buy pizza by-the-piece. You'd be willing to pay a lot for that first piece to satisfy your hunger. But what about the second piece? Perhaps a little less. If we keep considering each additional piece, we might ask what the 3rd, 4th or 5th piece is worth to you. By that point, you'd be willing to pay less, perhaps much less. The law of demand and our models illustrate this behavior.
Explanation:
Explanation:
The wholesalers can have different forms depending upon the volume of business, number of products/services dealt with, etc. the wholesalers have the ability to influence the producers and the retailers.
If the wholesalers are large, their businesses are important and they can put more pressure on the producers and the retailers. They can introduce their own brands or sell private brands and get the pricing freedom.Some of the types of wholesalers are:-
1. Manufacturer Wholesalers 2. Retail Wholesalers 3. Pure Wholesalers 4. Agents and Brokers 5. Assemblers 6. Merchant Wholesalers 7. General Merchandise Wholesalers
8. General Line Wholesalers 9. Speciality Wholesalers 10. Local Wholesalers 11. Regional or Sectional Wholesalers 12. National Wholesalers 13. International Wholesalers 14. Limited Function Wholesalers and a Few Others.
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Answer:
c. $74,000
Explanation:
Raw Material Ending Inventory = Raw Material Beginning Inventory + Purchases - Cost of material for the year
Raw Material Ending Inventory = Raw Material Beginning Inventory + (Total Purchases- Indirect material purchased) - Cost of material for the year
$25,000 = $27,000 + ( $100,000 - $28,000 ) - Cost of material for the year
$25,000 = $27,000 + 72,000 - Cost of material for the year
$25,000 = $99,000 - Cost of material for the year
Cost of material for the year = $99,000 - $25,000
Cost of material for the year = $74,000
Answer:
The perpetuity pays $2,040 every year.
Explanation:
The formula to find the present value of a perpetuity is
present value = cash flow/interest rate
In this question we are given the interest rate and present value and we need to find the cash flow, so we will just input these values in the formula.
Present value = 34,000
Interest rate =6%
34,000=Cash flow/0.06
34,000*0.06= cash flow
Cash flow =2,040
The answer is false because a customer is a person that buys goods or services from a store of business.