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velikii [3]
1 year ago
4

If the supply of and demand for a product decrease at the same time, then equilibrium:___.

Business
1 answer:
sergejj [24]1 year ago
5 0

At the same time, the equillibrium tends to increase.

Curves of supply and demand illustrate the connections between price and quantity. When supply and demand are in balance, there is equilibrium. Because revenues are a function of price and quantity, the form of these curves and the equilibrium price have an impact on both small and large firms. The supply and demand curves for various industries are influenced by the joint actions of firms and customers, even if a single business cannot change the shape of these curves.

Include shifts in consumer expectations and new technologies when predicting a supply curve shift. The converse is true for downward movements in the supply and demand curves, which show growing supply and decreasing demand, respectively.

To learn more about supply curve shifts, refer this link.

brainly.com/question/14683589

#SPJ4

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Choi Company manufactures two skin care lotions, Smooth Skin and Silken Skin, from a joint process. The joint costs incurred are
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Answer:

Product           Quantity  Selling price    Sales value

                          Pint                $                      $

Smooth skin    140,000         3.60            504,000

Silken skin       180,000          5.30           954,000

                         320,000                           1,458,000

The amount of joint cost to be apportioned to smooth skin                                                                                            

= $504,000/$1,458,000 x $340,000

= $117,531

Explanation:

There is need to determine the sales value for each product by multiplying the quantity of pint sold by respective selling prices. Then, we will compute the total sales value. The amount of joint cost that will be allocated to sooth skin is the ratio of sales of smooth skin to the total sales value multiplied by the joint costs incurred.

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4 years ago
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Answer and Explanation:

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