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crimeas [40]
3 years ago
12

Suppose consumer income increases. If grass seed is a normal good, the equilibrium price of grass seed will a. decrease, and pro

ducer surplus in the industry will decrease. b. increase, and producer surplus in the industry will increase. c. decrease, and producer surplus in the industry will increase. d. increase, and producer surplus in the industry will decrease.

Business
1 answer:
Marta_Voda [28]3 years ago
7 0

Answer:

b. increase, and producer surplus in the industry will increase

Explanation:

A normal good is a good whose demand increases as income increases.

If grass seed is a normal good, when income rises, demand increases and the demand curve shifts to the right. This would lead to an increase of demand over supply which would lead to a rise in price.

The rise in price increases producers surplus.

Producers surplus is the least price a producer is willing to sell a product and the actual price the product is sold. If price rises, producer surplus increases.

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The marginal product of labor in the production of computer chips is 3030 chips per hour. The marginal rate of technical substit
fredd [130]

Answer:

150

Explanation:

As we know that

The marginal rate of technical substitution ​(MRTS) = Marginal product of labor ÷ Marginal product of capital

where,

The marginal rate of technical substitution ​(MRTS) = 0.20

And, the marginal product of labor is 30 chips per hour

So, the marginal product of capital is

= 30 chips per hour ÷ 0.20

= 150

The marginal rate of technical substitution ​(MRTS​) shows a relationship between the marginal product of labor and the marginal product of capital

5 0
3 years ago
Accounting does anyone know how to do a work sheet
aleksley [76]

Answer:

you can download it as a pdf document and then you can write on it, or you can print it out.

Explanation:

4 0
3 years ago
Your unique combination of attitudes, behaviors, and characteristics make up your _____. a. learning style b. self-concept c. pe
egoroff_w [7]

Answer:

C. Personality

Explanation:

Answer on Edge2020

4 0
2 years ago
Read 2 more answers
The following information is available for Wildhorse Co. for the month of January: expected cash receipts $59,320; expected cash
ziro4ka [17]

Answer:

Ending cash balance$8,230

Explanation:

Preparation of basic cash budget for the month of January.

Wildhorse Co CASH BUDGET for the month of January

Beginning cash balance$11,890

Add: Cash receipts $59,320

Total cash available $71,210

($59,320+$11,890)

Less: Cash disbursements ($66,850)

Excess of available cash over cash disbursements $4,360

Financing needed $3,870

($8,230-$4,360)

Ending cash balance$8,230

Therefore the basic cash budget for the month of January will be $8,230

5 0
3 years ago
he supplies account had a balance of $4,400 at the beginning of the year and was debited during the year for $2,400, representin
nexus9112 [7]

Answer:

$6,400

Explanation:

Financial Statements depicts the financial position of a firm at a particular point of time or specified date. The users of financial statements use various types of analysis to understand or compare the current financial statements of the company to prior years or with those of the competitors.

Supplies account is an asset account and has normal balance as debit balance. It increases with the purchase and decreases with the use of supplies.

Given:

Supplies (beginning) = $4,400

Purchased (supplies) = $2,400

Supplies (ending) = $400

Let supplies expense be x.

Now,

Supplies (ending) = Supplies (beginning) + Purchased (supplies) - Supplies expense

$400 = $4,400 + $2,400 - x

$400 = $6,800 - x

x = $6,800 - $400

Supplies expense = x = $6,400

6 0
3 years ago
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