Answer:
Equilibrium price rises
Equilibrium price rises
Equilibrium price rises
Equilibrium price falls
Equilibrium price rises
Equilibrium price rises
Equilibrium price falls
Explanation:
A normal good is a good whose demand increases when income rises.
If the price of pencils increases, the demand for pens would increase. This would lead to an excess of demand over supply and price would rise as result. Pens and pencils are substitute goods.
If income of consumers rise, the demand for pens would rise because pens are normal goods. The increase in demand would lead to an excess of demand over supply and prices would rise.
If writing in ink becomes more fashionable, the demand for pens would increase. The increase in demand would lead to an excess of demand over supply and prices would rise.
If people expect the price of pens to fall in the near future, consumer would reduce their demand for pens and shift it to the future. The fall in demand would lead to a fall in price.
If population increases, the demand for pens would rise. The increase in demand would lead to an excess of demand over supply and prices would rise.
If fewer firms supply pens, supply would fall. This would cause a leftward shift in the supply curve and prices would rise.
If wages of pen makers fell, firms would increase their demand for Labour and quantity supplied would increase. This increase would cause price to fall.
I hope my answer helps you.
Answer:
Fixed costs are the costs associated with your business's products or services that must be paid regardless of the volume you sell. ... Insurance - the liability insurance you hold on your business. Rent - the rent you pay on your office, factory, and storage space. Utilities - electricity, water, and other utilities.
Explanation:
Answer:
1. sole proprietorship, partnership, corporation, and Limited Liability Company
2.
Advertising
Branding
Copywriting
Customer relationship management
Direct marketing
Event planning
Graphic design
Internet Marketing
Loyalty marketing
Market research
Marketing communications
Media relations
Merchandising
New product development
Pricing
Product management
Promotion
Public relations
Sales management and support
Search engine optimization
Social med
ia optimization
Strategic planning
Supply chain management
hope it helped :)
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Answer:
The primary difference between those two concepts is focus that each term has. The first one focus on the relationship between the level of production and the level of return. While the second one focus on the relationship between the level of production and the amount of factors used for that production.
Explanation:
One the one hand, the law of diminishing marginal returns is a concept known in the microeconomics theory due to the fact that it establishes the relationship between the productivity and the income for every aspect of it. Meaning that, when the productivity increases because of the increase of only one factor of production then the income will start to slowly decrease, confirming that when only one factor is increased the production will start to be incomplete and the return will decrease for that.
On the other hand, the law of diminishing marginal rate of technical substitution indicates the relationship between the level of output and the different factor used to produce. Meaning that, it shows how to keep the level of output the same while making changes in the amount of factors used.
Answer:
Explanation:
The journal entries are shown below:
1. Loss on Investment A/c Dr $1,800 (1,200 shares × $31 - $39,600)
To GE shares investment A/c $1,800
(Being the adjustment is recorded)
2. Retained earnings A/c Dr $37,200 (1,200 shares × $31)
To Property Dividends Payable $37,200
(Being the entry is made on declaration date)
3. Property Dividends Payable A/c $37,200
To GE shares investment A/c $37,200
(Being the entry is made on payment date)
