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2 years ago

The amount of a good that buyers are willing and able to purchase at a given price.

Business

1 answer:

inysia [295]2 years ago

7 0

Answer:

Quantity demanded is the amount of a good that buyers are willing and able to purchase at a particular price. Many things determine demand, but only price can determine the quantity demanded of a specific good. If you have the money and are willing to buy 2 ice cream cones a week, at $2 per cone, the quantity demanded would be 2 cones a week. Now, what happens if the price increases to $4 a cone? If you are like most people, the quantity of ice cream cones you demand will decrease as the price rises. In this case, assume your quantity demanded is now only 1 cone a week, which is what you are willing and able to buy. Notice that as the price of the cones increases, the quantity of ice cream cones demanded decreases. This means quantity demanded is negatively related to price-which means they have an inverse relationship. Economists refer to this relationship as the law of demand. The law of demand states that, other things being equal, when the price of a good rises, the quantity demanded of that good falls. The reverse is also true-when the price of a good falls, the quantity demanded of that good rises. The combination of the quantities people are willing and able to buy of a good or service at various prices constitutes a demand schedule. When the demand schedule is graphed, the demand curve is downward sloping.

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The following proceeds received by Grove City in year 1 are legally restricted to expenditure for specified purposes: Donation b

tatiyna

Answer:

The $1,200,000 should be accounted for in Grove’s special revenue funds

Explanation:

Special revenue fund: The special revenue fund is a fund that is introduced by the government to collect the money from the public. It is made to fulfill the need for specific purposes/ projects.

The computation of special revenue funds is shown below:

= Income received for providing the meals to the needy people + financing of sales tax with respect to tourist facilities maintenance in the shopping district

= $300,000 + $900,000

= $1,200,000

4 0

3 years ago

You work for an advertising agency. You have been assigned to come up with an advertising campaign for a new brand of designer w

kaheart [24]

Answer:

The correct answer are: peripheral route; you do not have strong arguments for why your product is superior

Explanation:

The peripheral route, instead of examining the relevant arguments for the matter, individuals examine the message quickly or focus on simple indicators that help them decide whether to accept or reject the position advocated in the message. The elements that are peripheral to the arguments of the message are those that take center stage. These may include the communicator's physical attractiveness, the direct style of speaking, or the pleasant association between the message and the music that is heard in the background. Sometimes, the strength of the arguments is of secondary or almost null importance. Sometimes we lack the motivation, ability or time to reflect carefully. If we are disinterested, distracted or busy, we may not take the time to analyze the content of the message. Instead of analyzing whether the arguments are convincing, we will most likely follow the peripheral route, focusing on clues and indicators that activate automatic acceptance without too much cognitive processing. Peripheral processing allows communicators to design simple claims and messages to influence individuals. Although on many occasions this route may seem like the panacea of contemporary persuasion, the truth is that a good part of it is also carried out through mechanisms that involve careful and reflective considerations of the message's arguments, since, as we have indicated, When people have some motivation or are able to process messages, they are not based exclusively on peripheral cues and signals, or necessarily fall into the tricks of the persuader. When processing peripherally, people always rely on simple rules, to make decisions, "heuristic." For example the "heuristic" that experts should be believed and only for this reason accept the recommendation of a speaker, the heuristic "if many people think that something is good, then it should be" or those of reputation, consistency and security apparent in the argument. Peripheral and superficial processing does not produce profound and lasting changes of opinion. The effects of surface processing are ephemeral but relevant enough to convince an undecided voter or push a consumer towards the purchase of one or another product.

6 0

3 years ago

Cost is most plainly visible when spending more money on one thing means that less money can be spent on another thing. True or

SSSSS [86.1K]

The given statement about cost is a true statement as cost becomes most obvious when more money must be spent on one thing, leaving less available for another.

A cost is often the value of the money that was expended during the production or delivery of something or service and is now unavailable for use.

Manufacturing, research, retail, and accountancy all make use of this idea. In business transactions, the cost may be an acquisition cost, in which case the amount of money spent to acquire it is considered to be part of the cost.

Finally, cost becomes most apparent when more money spent on one thing leaves less money for another. This corresponds to a true statement.

As a result, opportunity cost describes a decision we must make in order to make another one.

You have $50, for instance, which you may spend on a date with your partner or on your preferred game. The inability to purchase the game is your opportunity cost if you decide to utilize that money to take your partner out on a date.

Check out the link below to learn more about costs;

brainly.com/question/28343978

#SPJ4

6 0

1 year ago

Adjusting factory overhead LO P4

irga5000 [103]

Answer:

26,500 Under applied

Explanation:

<em><u>Lock-Tite Company</u></em>

Actual Factory Overhead 215,000

Factory overhead Indirect materials 15,000

Indirect labor 80,000

Other overhead costs 120,000

Direct Labor = 345,000

Predetermined Overhead = 70% of $ 345,000= $ 241,500

Actual Overhead = $ 215,000

Difference = Predetermined Overhead - Actual Overhead

= 241,500- $ 215,000= 26,500 Under applied

We find the difference between actual overhead and applied overhead to find the underapplied ( overapplied overhead. If the actual overhead is less than applied overhead it is underapplied. But if the actual overhead is greater than applied overhead it is over applied.

Raw materials Opening $ 43,000

Add Materials Purchases 195000 ( 210,000 - 15000)

Less Raw materials Closing $ 52,000

Direct Materials Used 186,000

Direct Labor 345,000

FOH 215,000

Total Manufacturing Costs 746,000

Add Work in process Opening 10,200

Less Work in process Closing 21,300

Add Finished goods Opening 63,000

Less Finished goods Closing 35,600

Cost Of Goods Sold 762,300

8 0

3 years ago

Engberg Company installs lawn sod in home yards. The company’s most recent monthly contribution format income statement follows:

GaryK [48]

Answer:

See answer below

Explanation:

1. Degree of operating leverage

Selling price $126,000

Variable cost $50,400

Contribution margin $75,600

Fixed cost $23,000

Net operating income $52,600

Degree of operating leverage = Contribution margin / operating income = $75,600 / $52,600

= 1.44

8 0

3 years ago