1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Murrr4er [49]
3 years ago
13

Suppose that there are only three consumers of a product. At a price of $3 per unit, the first consumer would buy 6 units of the

product, the second consumer would buy 5 units, and the third consumer would buy 7 units of the product. If you drew a market demand curve for this product, the quantity demanded at a price of $3 would be:
Business
1 answer:
slava [35]3 years ago
3 0

Answer:

The quantity demanded at $3 would be 18 units.

Explanation:

The market demanded curve is the sum of all individual demand curves in the market. We can sum up the individual quantity demanded of a good to find out the quantity demanded by the market as a whole.  

Suppose the price of a good is $3. There are three consumers in the market.

The first consumer would buy 6 units, the second would buy 5 units and the third would buy 7 units.

The market demand for the good at the price of $3 would be,  

= 6 units + 5 units + 7 units

= 18 units

You might be interested in
Land costing $77,900 was sold for $99,800 cash. The gain on the sale was reported on the income statement as other revenue. On t
Harlamova29_29 [7]

Answer:

$99,800

Explanation:

The statements of cash flows show cash inflows and out flows from the business activities which are recognized as operating, investing and financing activities.

When an asset is sold, the amount received from the sale of the asset is recognized as an inflow in the investing section of the cash flow statement.

The gain/loss from the sale would have been treated in the operating section based on the effect it had in the income statement while computing the net income of the company.

4 0
3 years ago
Distributive, procedural, and interactional are
Jet001 [13]

Answer:

Organizational justice

Explanation:

Organizational justice concerns employees' understanding of fairness, results, and processes within a company. Distributive, procedural, and interactional are the three types of organizational justice that companies must embrace in order to have happy and productive employees.

4 0
2 years ago
On March 15, Viking Office Supply agrees to accept $1,200 in cash along with a $2,800, 60-day, 15 percent note from one of its c
Rzqust [24]

Answer:

Cash debit 1,200

Note Receivable debit 2,800

Account Receivable credit 4,000

Explanation:

The accounting will reflect the receipt of cash and the note at their principal.

The interest of the note will ge accrued with the past of time. Currently no interest was earned, so we don't have to post anything related to the interest of the note.

We just write-off the account receivable of the customer and declare how we settle.

6 0
3 years ago
Problem 5.3 Your birthday is coming up and instead of other presents, your parents promised to give you $2,600 in cash. Since yo
Papessa [141]

Answer:

Ans. The value of investment after 2 years is $3,155.51

Explanation:

Hi, first we need toconvert that 9.80 percent, compounded quarterly into an effective quarterly rate, that is just by dividing by 4, since there are 4 quarters in a year, that is:

r(effective quarterly)= 9.8%/4 =2.45%

Now, since the rate is effective quarterly, the periods (time of the invesmet) has to be in quarters, so we multiply 2 years by 4 and we get 8 quarters.

With all the above information, we can go ahead and use the following formula in order to find the future value of this investment.

FutureValue=PresentValue*(1+r)^{n}

It should all look like this.

FutureValue=2,600*(1+0.0245)^{8}=3,155.51

So, the future value of this investment is $3,155.51

Best of luck.

8 0
3 years ago
Bought goods<br> for<br> cash $100<br> to double<br> entry system.
aalyn [17]
Purchases account is going to increase on the credit side and the cash account is going to decrease ( to be written on the credit side).
3 0
3 years ago
Other questions:
  • The Color Box uses a combination of common stock, preferred stock, and debt financing. The company wants preferred stock to repr
    13·1 answer
  • Tishian's funeral home has been in business for over 80 years. throughout its history, the firm has been a family-run operation.
    8·1 answer
  • Evie agrees to work for far east shipping, ltd., as a translator. in determining whether a contract has been formed, an element
    15·1 answer
  • Strolovitch has found that african american organizations are likely to
    12·2 answers
  • An insurance firm that follows the systems development life cycle concept for all major information system projects is preparing
    6·1 answer
  • When a bond is sold at a​ discount, the maturity value is less than the present value of the principal and interest​ payments, b
    11·1 answer
  • The following incorrect income statement was prepared by the accountant of the Axel Corporation:
    8·1 answer
  • Tyler and Josie formed a partnership. Tyler received a 25 percent interest in partnership capital and profits in exchange for la
    15·2 answers
  • The ____ rate is the interest rate banks charge each other for borrowing or storing money?
    15·2 answers
  • Tyreek pitches four investors. They agree to each invest $25,000 and value Tyreek's company at 200,000. How much of the company
    10·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!