If the number of demanders for electric cars increases at the same time as the number of suppliers of electric cars increases, w
hich of the following is true?
(A) The equilibrium quantity will increase.
(B) Both the demand and supply curves will shift to the left.
(C) The equilibrium quantity will decrease.
(D) The effect on the equilibrium quantity is ambiguous without more information.
(A) The equilibrium quantity will increase.
(B) Both the demand and supply curves will shift to the left.
(C) The equilibrium quantity will decrease.
(D) The effect on the equilibrium quantity is ambiguous without more information.
1 answer:
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Answer:
The total cost of goods sold = $70,000
Explanation:
Given:
Initial inventory at the start of the year for Jackson Co. = $20,000
Total cost of purchases made during the year = $80,000
Inventory remaining at the end of the year = $30,000
Solution:
Total inventory for Jackson Co. during the year =
Inventory remaining at the end of the year = $30,000
The cost of the goods sold can be calculated by subtracting the remaining inventory from the total inventory.
Thus, cost of goods sold can be given as :
⇒
⇒
The total cost of goods sold = $70,000