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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<u> demand curve is inelastic</u>, 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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Radu is a global manufacturer of automotive parts. The annual reporting period ends Dec. 31. Below find balances for all of its

Trava [24]

Answer:

a) dollar amount of the gross profit = 17000

b) dollar amount of the income from operations = 11700

c) dollar amount of the income before income tax = 11900

d) dollar amount of the net income = 8400

Explanation:

(a) Gross profit:

= Sales - Cost of goods sold

= 50,000 - 33,000

= $17,000

(b) Income from operation:

= Gross profit - Bad debt expenses - other operating expenses - Selling and administrative expenses

= $17,000 - $100 - $500 - $4,700

= $11,700

= Income from operation + Interest Income and Other Non-operating Revenues

= $11,700 + $200

= $11,900

(d) Net income:

= Income before income tax - Income tax

= $11,900 - $3,500

= $8,400

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3 years ago

Often, it is difficult to name a home country for a(n) ________ business

velikii [3]

Small business is difficult in the economy because its self made

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3 years ago

What is the main reason the government creates regulations? to keep control over what is bought and sold in the us to make sure

zubka84 [21]

to make sure business is conducted safely and fairly

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