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mr Goodwill [35]
3 years ago
10

Explain the effects of each of the following factors on the market price and quantity of cell phones available in the market: an

increase in consumers’ income, technical improvements that reduce production costs, and a sharp decline in the cost of making fixed-line calls.
Business
1 answer:
Elina [12.6K]3 years ago
7 0

Explain the effects of each of the following factors on the market price and quantity of cell phones available in the market: An increase in consumers’ income = if there is an increase in consumers income, there may be a decrease in the cell phones available for purchase because more people would have money to purchase phones. If more people are willing and able to purchase phones, the market price may increase on the device. Technical improvements that reduce production costs = If production costs of the devices go down, the market price may decrease making the phones more affordable. If phones become more affordable and decrease in price, the quantity sold may rise to reflect the change. A sharp decline in the cost of making fixed-line calls = if the cost of making fixed-line calls decreases, there may not be any change to the market price of phones however their may be an increase in quantity sold.

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Zhang Industries sells a product for $750. Unit sales for May were 400 and each month's sales are expected to grow by 3%. Zhang
Colt1911 [192]

Answer:

Total= $292,520

Explanation:

Giving the following information:

Zhang Industries sells a product for $750. Unit sales for May were 400 and each month's sales are expected to grow by 3%. Zhang pays a sales manager a monthly salary of $4,000 and a commission of 2% of sales in dollars. Assume 30% of Zhang's sales are for cash. The remaining 70% are credit sales; these customers pay in the month following the sale.

Cash budget for June:

Sales= [(400*1.03)*750]*0.3= 92,700

Sales from May= (400*750)*0.7= 210,000

Salary= (4,000)

Commision= [(400*1.03)*750]*0.02= (6,180)

Total= $292,520

6 0
3 years ago
Suppose that an economy produces 2,400 units of output, employing 60 units of input, and the price of the input is $30 per unit.
Vinil7 [7]

an economy produces 2,400 units of output, employing 60 units of input, and the price of the input is $30 per unit. the level of productivity in this economy is 40

<h3>What is productivity?</h3>
  • It is possible to study patterns in salary growth, wage levels, and technical advancement by further segmenting labor productivity.
  • Productivity increase is directly related to corporate earnings and shareholder returns.
  • Productivity is a measure of a company's production process efficiency at the corporate level.
  • It is calculated by comparing the number of units produced to employee labor hours or by comparing the company's net sales to employee labor hours.
  • Productivity is calculated as a company's output divided by the units utilized to produce that output.
  • In the workplace, productivity simply refers to how much "work" is completed in a given amount of time.

To learn more about productivity with the given link

brainly.com/question/23987161

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8 0
1 year ago
What is the point at which supply and demand intersect at a given price?
WINSTONCH [101]
The answer is an equilibrium point. In economics, this relates to the condition of the economic forces in which supplies and demand meet meaning the demand is equal to the supplies of the certain product. It is set by increasing or decreasing the price of a good in response to the movement of the supply and demand in the market. 
8 0
3 years ago
Read 2 more answers
An ice cream manufacturer makes ice cream in two processes, Mixing and Packaging. During April, its first month of business, the
Mazyrski [523]

Based on the sales revenue that the ice cream manufacturer got and the cost of goods sold, the total gross profit on ice cream sales is $300,000.

<h3>How is the total gross profit calculated?</h3>

This can be found as:

= Sales revenue - Cost of goods sold

Sales revenue:

= 200,000 x 4.70

= $940,000

Cost of goods sold:

= Total production cost / Total units produced x Units sold

= 665,600 / 208,000 x 200,000

= $640,000

Gross profit:

= 940,000 - 640,000

= $300,000

Find out more on gross profit at brainly.com/question/942181.

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3 0
1 year ago
A house is closed on April 15. The property taxes are $960 for the year. They have not been paid. How much does the buyer receiv
Scilla [17]

Answer:

Explanation:

divide the total taxes 960 by 365 (number of days in the year) to get per day tax which is 2.63$. Days from 1 January to April 15 are 105, these 105 days times 2.63$ =276.15.

so, now we have calculated the amount of taxable by seller at closing date and buyer will receive the same from seller i.e 276.15 $ .

4 0
3 years ago
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