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2 years ago

An increase in the supply of grain will reduce the total revenue grain producers receive if.

1 answer:

7 0

If the demand curve is inelastic, a rise in the supply of grain will result in a decrease in the overall income received by grain producers.

The ability of firms to enter and exit a market over time means that, in the long run, the supply curve is more elastic.

Two basic economic concepts are combined in the law of supply and demand to explain how shifts in the price of a resource, good, or service affect its supply and demand. As the price rises, supply increases while demand decreases. On the other hand, as the price falls, demand increases and supply becomes more limited.

The degree to which changes in price translate into changes in demand and supply is known as the product's price elasticity.

Basic consumer demand is comparatively inelastic, or less responsive to price changes.

Discover the long-term impact of population growth on supply and demand: brainly.com/question/13353440

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What is the current value of a future sum of money called?

Dennis_Churaev [7]

Present value is the current value of a future sum of money. Present value of money is used to compute the time value of money. It is also known as ‘present discounted value’ or ‘discounted value.’ It is the worth of money now to be paid in series of payments at a certain interest rate to arrive at the future value.

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3 years ago

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3 years ago

Read 2 more answers

Q 6.26: Howard Incorporated is determining ending inventory. In the inventory process, Howard inadvertently miscategorized a $6,

Fudgin [204]

Answer:

This error will decrease Howard's inventory by $6,000

Explanation:

Howard's inventory should include:

inventory on hand + goods purchased FOB shipping point + goods sold FOB destination point.

FOB shipping point means that the title of the goods is passed at the moment that they leave the seller's warehouse. FOB destination point means that the title of the goods is passed only after they have been delivered to the buyer's warehouse.

In this case, Howard purchased goods as FOB shipping point, so that means they should have been included in their inventory. Since they weren't, this error will decrease its inventory by $6,000.

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3 years ago

Mellon Corporation The data presented below is Mellon Corporation for the year ended December 31, 2015: Sales (100% on credit) $

kaheart [24]

Answer:

The bad debts expense for 2015 would be $ 28,000

Explanation:

The balance of the allowance for doubtful account should be equal to the amount estimated to be uncollectible based on the ageing analysis

Estimated uncollectible account $ 31,000

Allowance for doubtful accounts prior to adjustment $ 3,000

Bad debts expense for the year to be recorded $ 28,000

The accounting entry to record this is as follows:

Bad debts expense Debit $ 28,000

Allowance for uncollectible accounts Credit $ 28,000

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3 years ago

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prohojiy [21]

$560 I just took the test on primavera and this was right.

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3 years ago