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3 years ago

It is appropriate to use the supply-and-demand model in which of the following markets?

Business

1 answer:

NeX [460]3 years ago

4 0

Answer:

The correct answers are letters "A", "B", "C", and "D": beer market; car market; wheat market; market for breakfast cereal.

Explanation:

The supply-and-demand analysis is one of the most basic principles in economics. In simple terms, it states that when an item is scarce, but many people want it, the price of that item will rise. The theory can be applied to markets of goods and services, labor, capital, and all the factors of production. It could be useful to study the fluctuations of a firm or the overall economy.

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Juan argued that bluegrass is the best food for cattle in the Midwest. Sammy objected by citing how the authorities at the U.S.

seropon [69]

Answer:

committed the fallacy of avoiding the issue.

Explanation:

The fallacy of avoiding the issue is also called the fallacy of irelevant conclusion or a red herring.

It occurs when an individual avoids dealing with an issue that he has a problem with.

In the given scenario the issue is whether bluegrass is better than Alfa Alfa for cattle in the Midwest.

Instead of Juan to address the issue he is arguing that the U.S. Department of Agriculture is a bloated bureaucracy with too much fat that deserves to be cut in the next federal budget bill.

He is not addressing the main issue

8 0

3 years ago

Which of the following types of venue is favored by small-business retailers?

kondor19780726 [428]

The type of venue that small-business retailers favor is C.SPECIALTY SHOP.

Being in a specialty shop, your products will be prominently displayed and competition is minimal compared to other given venues.

Customers, looking for specific items that you can offer, usually prefer going directly to the shops instead of wasting time looking around those bigger venues searching for items they need.

8 0

3 years ago

he following information is available for completed Job No. 402: Direct materials, $170000; direct labor, $230000; manufacturing

sveticcg [70]

Answer:

The correct answer is $112,000

Explanation:

First of all, let us lay out the information given:

Direct materials = $170,000

Direct Labor = $230,000

Manufacturing overhead = $160,000

Cost of production = Direct material + Direct Labor + Manufacturing overhead = 170,000 + 230,000 + 160,000 = $560,000

Number of units produced = 5000 units

Number of units sold = 4000 units

Number of units left on hand = 5000 - 4000 = 1000 units (units produced - units sold)

Next, we will calculate the cost of production of a single unit of finished product as follows:

5000 units = $560,000

∴ 1 unit = 560,000 ÷ 5000 = 112

Finally, since the number of unit on hand is 1,000 units, we will find the cost of unit on hand as follows

1 unit = $112

∴ 1000 unit = 112 × 1000 = $112,000

3 0

3 years ago

Assume that Jocelyn is comparing two fixed-rate loan options, a 15 year and a 30 year mortgage. Both options have the same inter

Schach [20]

Assume that Jocelyn is comparing two fixed-rate loan options, a 15 year and a 30 year mortgage. Both options have the same interest rate and amount borrowed. The 30 year, when compared to the 15 year loan will have a lower monthly payment and a higher total cost when repayment is completed.

The longer the spread of an annuity payment the lower the monthly payment and the higher the total cost of the loan.

6 0

3 years ago

Read 2 more answers

A company had average total assets of $955,000. Its gross sales were $1,108,000 and its net sales were $940,000. The company's t

Natali5045456 [20]

Answer:

It is 0.98

Explanation:

Total Assets Turnover Ratio(TATR) = Net Sales

Average Total Assets

Net Assets =Gross Sales-Trade discounts-Sales tax-Sales return

TATR = 940,000/955,000 = 0.98 times

It is the ratio of a company's net sales to its average assets employed.

It is a ratio that tells how efficient the company is using its assets to generate its revenue.

The drawback of this ratio is that, if the divisional manager performance is based on this, it may sometimes leads to short-term view of performance. This may then encourage dysfunctional behaviour which may include refusal to replace an old assets with lower based value which when replace may reduce this ratio because of the higher based value of the new assets while sales still remain the same

6 0

3 years ago

It is appropriate to use the supply-and-demand model in which of the following​ markets?

It is appropriate to use the supply-and-demand model in which of the following markets?