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Fudgin [204]
1 year ago
9

If the price of bananas increases from $0.75 a pound to $1.00 per pound, in the market for bananas this will cause:______.

Business
1 answer:
LiRa [457]1 year ago
7 0

Banana prices will move upward (to the left) along the demand curve if they rise from $0.75 per pound to $1.00 per pound in the market.

The demand curve is a graphical depiction of the connection between the cost of a commodity or service and the amount demanded over a specific time period. A common representation will have the price on the left-hand vertical axis and the amount needed on the right-hand horizontal axis.

The law of demand states that, when all other factors are equal, the quantity demanded for a given good will decrease as its price rises as shown by the demand curve moving from left to right.

Keep in mind that this formulation suggests that quantity is the dependent variable and price the independent variable. The independent variable often appears on the horizontal axis, or x-axis, although economics is an demand curve.

Learn more about demand curve here

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Revenues, Expenses, and Cost of Goods Sold are closed to which of the following accounts:_________
iren2701 [21]

Answer: A) Income Summary

Explanation:

The Income Summary account is used to compile temporary accounts before posting them to capital accounts. Revenues, Expenses and Cost of Goods are temporary accounts which will be compiled in the Income summary account.

The Income summary account has a debit and a credit side with income going on the credit side and expenses going on the debit side. If the credit side is higher than the debit side then profits have been made. The reverse is true.

6 0
3 years ago
We typically hear of the gains from trade coming through specialization wherein each nation produces more of and exports that go
Brut [27]

Answer:

Generally theoretical models work only in theory. E.g. perfect competition models exist in theory but no market is really a perfect competition market.

The Ricardian model or the H-O model, or other trade models make the mistake of assuming that resources can be allocated at will and almost immediately, e.g. a fisherman can immediately become an engineer and start developing apps. Or a farmer that produces corn or rye (very popular examples) can suddenly start working at a factory producing bluejeans.

In real life, it doesn't happen. Also, trade models never consider natural trade barriers and extra costs related to trade. E.g. it is not the same to sell $10,000 worth of corn (you need a very large truck) than selling $10,000 worth of jeans (all you need is a small delivery van). In real life, trade is not simple, it is actually extremely complicated.

E.g. everyone knows that manufacturing goods in America is not efficient, at best companies can be less inefficient, but no manufacturing company in America is really efficient if we compare them to foreign companies. Even people who work in manufacturing industries know this, but they want to continue working in them. They want the companies to keep producing in America and they want to keep their jobs. Not everyone in America has a college degree in computer programming, finances, is able to design robots, or is a doctor, etc.

In real life, efficient industries have to exist alongside inefficient industries, and the whole economy suffers from it. But it is unavoidable. In the long run, the economy will eventually shift resources to more efficient industries,  but it takes a long time, and a lot of people and companies will be against it. E.g. every year there are less shoe manufacturers in America, and eventually sometime in the future there will be none.

7 0
3 years ago
PLSS HELP -->> societies make decisions about who gets the goods they produce by:
ipn [44]

Answer: C

Explanation: it’s c

5 0
3 years ago
When boating on a river, you may encounter strainers. what is the danger of a strainer?
Yuri [45]
When boating on a river, you might encounter these strainers and the danger of these strainers is that they can possibly trap your boats and throw the passengers out of the boat. Strainer is the term that describes anything that obstructs the way in the river such as logs, or wire fence. 
7 0
3 years ago
Read 2 more answers
Hugo has been working on his company’s new marketing campaign for the past few weeks. He is now looking at the target market and
krek1111 [17]

Answer:The Sixth Step determining the promotional mix, which tool to use , when and how much.

Explanation:

Promotional mix is how resources are allocated of resources among elements such as advertising, sales promotion, public relations, personal selling or direct marketing.

Integrating the elements together depends on the product one is promoting, preferences of the customers, budget and general market conditions. The sixth step shows which tools and promotional mix to use to achieve the aim of the organization. Hugo is in the sixth step of the marketing planning process.

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