A supply curve for the car industry would show the quantity of cars supplied at different prices. The supply curve shows the relationship between the cost of a good or service and how much is supplied during that time. When you are looking at a supply curve, it will show you different prices that an item is sold or service supplied at.
Answer:
it's important because it's make to long your progress in your workplace and don't get fired
<u>Solution and Explanation:</u>
a. <u>Accounting income is computed below:
</u>
Taxable interest 12,000.00
Rental income 30,000.00
Long term capital gain 0.00
Long term capital loss 0.00
Fees 0.00
Less: depreciation -2,800.00
Trust accounting income 39,200.00
<u>b.</u> One half of fiducary's fee = 6500 divided by 2 = 3250. This amount will be allocated to accounting income of the trust.
Taxable interest 12,000.00
Rental income 30,000.00
Long term capital gain 4,000.00
Long term capital loss -1,100.00
Fees -3,250.00
Depreciation -2,800.00
Trust accounting income 38,850.00
Answer:
d. Consumers have experienced an increase in income, and beef-production technology has improved.
Explanation:
Beef is a normal good. You observe that both the equilibrium price and quantity of beef have fallen over time.
The most likely economic explanation that would be most consistent with this observation is that Consumers have experienced an increase in income, and beef-production technology has improved.
Firstly, in relation to increase in income, as income increases certain normal goods are less demanded making them inferior goods. Hence both the equilibrium price and quantity of beef or any such product will fall over time.
In the case of beef, because of health considerations, consumers will stay away from it as their income increases because they will seek for healthier options like fish which they may not have been able to afford before.
Secondly, in relation to improved beef-production technology, beef supply will definitely increase with such improved technology, implying that supply will outweigh demand and the natural reaction will be a fall in equilibrium price.