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Amiraneli [1.4K]
9 months ago
11

How will a new law mandating an increase in required levels of automobile insurance affect the equilibrium price and equilibrium

quantity in the market for new automobiles?.
Business
1 answer:
Degger [83]9 months ago
4 0

Equilibrium price will fall; equilibrium quantity will fall.

What does Equilibrium price mean?

An Equilibrium price, also known as a market-clearing price, is the consumer cost assigned to some product or service such that supply and demand are equal, or close to equal.

The manufacturer or vendor can sell all the units they want to move and the customer can access all the units they want to buy.

What is Equilibrium quantity?

Equilibrium quantity is when there is no shortage or surplus of a product in the market.

Supply and demand intersect, meaning the amount of an item that consumers want to buy is equal to the amount being supplied by its producers.

Learn more about Equilibrium price and quantity here:

brainly.com/question/28182532

#SPJ4

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Concord Company signed a long-term noncancelable purchase commitment with a major supplier to purchase raw materials in 2021 at
Alika [10]

Answer:

Explanation:

The journal entry is shown below:

Unrealized holding gain or loss A/c Dr $45,500

        To Estimated liability on purchase commitments A/c $45,500

(Being the unrealized gain or loss is recorded)

The computation of the unrealized gain or loss is shown below:

= Purchase price of raw material - market value

= $1,024,100 -  $978,600

= $45,500

5 0
2 years ago
The philosophical leaders of the quality movement, Philip Crosby, W. Edwards Deming, and Joseph M. Juran, had the same general m
Nataly [62]

Answer:

The correct answer is A. Quality is free.

Explanation:

Deming's main interest was the application of statistical techniques since he was trained in the group of Walter Shewart, who developed the methods of statistical quality control (SQC). It was Deming who introduced the statistical quality control methods in Japan after World War II, and which underpin Kaoru lshikawa's approach to total quality control.

His proposal is the basis for the transformation, adoption and performance of the administration applied both in small and large organizations, whether they are services or dedicated to the manufacture of goods, these are known as the Deming philosophy for quality .

The thinking of Juran, as well as that of the other quality philosophers, is focused on ensuring that companies achieve and maintain quality leadership, define the roles of senior managers to lead their companies towards that objective and dispose of the means to be used by managers for that leadership.

Juran bases his theory on quality on the observations made to the Japanese and their strategies used, which included:

• Senior management occupation

• Training for all functions and at all levels

• Quality improvement at a continuous and revolutionary rate

• Participation of the workforce through quality control circles

The evaluation of the characteristics of the product begins by asking customers how they evaluate quality; and the task of senior managers will be to ensure that company manuals and information include clear definitions of the word quality.

7 0
3 years ago
Cheyenne Corp. purchased a piece of equipment for $58,800. It estimated a 9-year life and $3,400 salvage value. At the end of ye
bogdanovich [222]

Answer:

the revised depreciation is $ 3,753

Explanation:

<em>Straight Line Method of Depreciation charges the same amount of depreciation over the useful life of the asset.</em>

Depreciation Charge (Straight line) = (Cost - Salvage Value) / Useful life

Year 1

Depreciation Charge = ( $58,800 - $3,400) / 9 years

                                   = $6,156

Year 2

Depreciation Charge = $6,156

Year 3

Make the adjustment as if the adjustment happened at the beginning of the year

Make the following changes

(1) Adjast the Depreciable Amount (numerator)

(2) Adjast the Useful life (denominator) to 11 years

Depreciation Charge = (Cost - Previous Depreciation Charges - New Residual Value) / Revised Number of Useful life

Depreciation Charge = ($58,800 - $6,156 - $6,156 - $5,200)/ 11 years

                                   = $ 41,288/ 11 years

                                   = $ 3,753

5 0
2 years ago
If your lifestyle budget is $50000 a year selecting a career earning $75,000 will most likely allow you to meet your lifestyle g
NARA [144]
From what is said the answer is true. that leaves 25000 over your lifestyle budget
8 0
3 years ago
Fill in the blank: Using a(n) _____ keeps a record of any inconsistencies from the initial requirements of a project.
MariettaO [177]

An issue log is simply known as a type of documentation element of software project management Using an issue log keeps a record of any inconsistencies from the initial requirements of a project.

  • The issue log is known to have a list of ongoing and closed issues concerning project.

This type of logs can be seen as a way to track errors in any project.

It consist of name of the person who solve the problem, the date or time of the issue, the issue's priority and status and the date or time that the problem was resolved.

An issue log is also regarded as a simple list or spreadsheet that managers use to monitor the issues that arise in a project.

Learn more from

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5 0
2 years ago
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