1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
12345 [234]
2 years ago
12

What would happen to the equilibrium price and quantity for llama sculptures as a result of the price decrease of the porcelain

sloths? explain.
Business
1 answer:
chubhunter [2.5K]2 years ago
5 0

The equilibrium price and quantity for llama sculptures would fall as a result of the price decrease of the porcelain sloths. Being that they are substitute goods, a fall in price of the sloths would lead to a decrease in the demand for the llama sculptures.

An equilibrium price, additionally known as a market-clearing charge, is the consumer price assigned to some product or service such that deliver and call for are equal, or close to identical. The manufacturer or vendor can promote all the devices they want to transport and the consumer can get right of entry to all the units they need to shop for.

What's equilibrium price and demand?

The equilibrium price is in which the supply of goods fits call for. when a chief index stories a duration of consolidation or sideways momentum, it may be said that the forces of deliver and call for are fantastically equal and the market is in a nation of equilibrium.

What's particular approximately an equilibrium price?

An equilibrium price is particular due to the fact it's far the only charge at which amount demanded and quantity furnished are same. it's miles the price that corresponds with the intersection of the supply and call for curves.

What's the maximum essential characteristic of the equilibrium price?

The most critical function of the equilibrium price is that it: clears the market, leaving neither a surplus nor a scarcity.

Learn more about equilibrium price here:- brainly.com/question/22569960

#SPJ4

You might be interested in
PLs, HELP URGENT! Will give brainiest for a proper answer!
lord [1]

Answer:

D. Has more money for research and development

Explanation:

8 0
3 years ago
Read 2 more answers
Choose the letter of the item that best completes the statement or answers the question. Last year Jackson earned $500,000, Vele
Vitek1552 [10]

1. According to their states’ tax laws, which require each one to pay a tax of $500 despite their different earnings, the best description of the tax is <u>(c) regressive</u>.

<h3>What is a regressive tax system?</h3>

A regressive tax system is one where taxpayers pay a disproportionate share of the tax burden, given their earning levels.

A regressive tax system is not proportional or progressive.

2. An example of an excise tax is (b) tax on perfume.

3. The amount Rose Chin paid for the purchase of school supplies based on the state sales tax of 5% is <u>a) $12.60</u> ($12 x 1.05).

4. An example of a property tax is a) a tax based on the value of one's home.

5. The best example of the ability-to-pay principle is <u>b) income tax</u>.

6. An example of a tax based on the benefits-received principle is (a) bridge toll.

7. In the United States, taxes are used to accomplish all of the following except (c) determine which brands consumers buy.

8. For the apartment tenants, the tax is <u>d) a sales tax</u>.

9. The ultimate tax-burden bearer in question 8 is <u>(d) the tenants</u>.

10. An example of a protective tariff is (d) tax on the importation of foreign-made cars.

Thus, while income tax is mostly progressive in the United States, sales taxes are proportional, while some taxes are regressive because the amount paid is fixed and does not depend on the ability-to-pay principle.

Learn more about tax systems at brainly.com/question/12890967

#SPJ1

5 0
2 years ago
When the "invisible hand" guides economic activity, prices of products reflect______________.
FinnZ [79.3K]

Answer:

b) both the values that society places on those products and the costs to society of producing those products 

Explanation:

When the "invisible hand" guides economic activity, prices are known as equilibrium prices.

Equilibrium price is found where the demand curve intersects with the supply curve .

Equilibrium price is the price where both the value that society places on those products and the costs to society of producing those products are equal.

I hope my answer helps you

7 0
3 years ago
CAN SOMEONE PLEASE HELP ME????
Vikentia [17]

Answer:

1.D

2.D

Hope this helps

7 0
3 years ago
Gilberto Company currently manufactures 65,000 units per year of one of its crucial parts. Variable costs are $1.95 per unit, fi
pashok25 [27]

Answer:

Explanation:

                  cost of making in-house

Variable cost  = 1.95 * 65,000 = 126,750

Related fixed cost =                      75,000

Unavoidable fixed cost=               62,000

Total cost of manufacturing =      263,750.

                         cost of buying

Unit cost = 3.25*65,000 =            211,250

Unavoidable fixed cost =               62,000

Total cost of buying =                     273,250   .

Cost of buying is higher than the cost of making  

Incremental cost  buying = 273,250-263,250 = 9,500    

<u>Recommendation</u>        

Gilberto should manufacture in - house instead of buying.

4 0
3 years ago
Other questions:
  • Essay of circular flow
    8·1 answer
  • A couple will retire in 50 years; they plan to spend about $26,000 a year in retirement, which should last about 25 years. They
    13·1 answer
  • The graph above shows how the price of video games varies with the demand quantity. The equilibrium _____ is $50, and the equili
    8·1 answer
  • Kalim developed a new food product that he was certain would be popular with consumers. He researched his target market and made
    11·2 answers
  • What was the main goal of the Farmers’ Alliance?
    8·2 answers
  • Which of the following is true of budgeting? Question 1 options: Budgeting forces management to plan for the future. Budgeting c
    10·1 answer
  • In the quest to achieve competitive advantage in global markets, competitive pressures require that firms do what they can to __
    7·1 answer
  • Which of the following is typically considered a disadvantage of sole proprietorships? Multiple Choice Income taxes are paid by
    14·1 answer
  • Given the following information for the year ended December 31, what is the ratio of cash to monthly cash expenses? Negative cas
    12·1 answer
  • Suppose Kim purchases a new personal computer produced in China for $ 2,800. What is the effect on the components of GDP and GDP
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!