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astra-53 [7]
3 years ago
7

Which of the following is an example of the law of supply?1. The price of gum has increased so producers are making more gum. 2.

Producers provide less of a good when the price increases. 3. The amount of a good purchased increases when the price decreases. 4. The price of labor has increased and producers decrease supply.
Business
1 answer:
polet [3.4K]3 years ago
3 0

Answer:

Option 1 is correct.

Explanation:

Law of supply indicates that there is a positive relationship between the price of a commodity and the quantity supplied of that commodity. This means that an increase in the price of a commodity then as a result there is an increase in the quantity supplied of that commodity because it will become more profitable for the producers to produce more and supply more.

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A) because that is they only one that actually makes sense
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How does tactical adoption of cloud services differ from a coordinated cloud strategy?
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6 0
2 years ago
Geese Company utilizes the LIFO retail inventory method. Its cost-to-retail percentage is 60% based on beginning inventory and 6
Nataly_w [17]

Answer:

$152,000

Explanation:

Calculation for the cost of the ending inventory

First step is to calculate the cost-to-retail percentage of the beginning inventory amount

Using this formula

Beginning Inventory =Cost-to-retail percentage*Beginning inventory at retail

Let plug in the formula

Beginning Inventory =60%*$200,000

Beginning Inventory =$120,000

Second step is to calculate current-period purchases percentage of the new layer amount

Using this formula

Current period purchases= Purchases percentage* New layer

Let plug in the formula

Current period purchases=64%*50,000

Current period purchases=$32,000

The last step is to find the cost of the ending inventory using this formula

Ending inventory cost=Beginning Inventory+Current period purchases

Let plug in the formula

Ending inventory cost=$120,000+$32,000

Ending inventory cost=$152,000

Therefore the cost of the ending inventory will be $152,000

4 0
3 years ago
What disadvantage a They would be ineligible to receive b. They would receive only a partal benefit for as long as they collect
ArbitrLikvidat [17]

The correct answer is B:They would receive only a partial benefit for as long as they collect Social Security. The age at which Americans are eligible to receive full Social Security benefits is 65. The earliest age, assuming one is not disabled, one can apply for Social Security is 62. However, if an individual claims Social Security early between the ages of 62-64, it will be at a reduced rate.

5 0
3 years ago
Suppose French chocolate soufflé is an inferior good. When income increases and the number of producers in the market decreases
Vadim26 [7]

Answer:

d) The change to the equilibrium price of French chocolate souffle is ambiguous and the equilibrium quantity of French chocolate souffle falls

Explanation:

Inferior goods are those goods whose demand falls with the rise in the income of the consumer.

As per the given case, French chocolate souffle is an inferior good. When income of the consumer rises, his demand for French chocolate souffle will fall.

Similarly, when producers of such an inferior good decrease, the supply of French chocolate souffle shall fall.

With respect to the original equilibrium level, the demand curve shall experience a leftward shift i.e decrease whereas the supply curve too experiences a leftward shift i.e supply falls.

At the new equilibrium level, definitely the equilibrium quantity shall fall, but the change in equilibrium price cannot be ascertained as per the given information.

4 0
3 years ago
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