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3 years ago

Which of the following correctly describes how price adjustments eliminate a shortage?

Business

1 answer:

vampirchik [111]3 years ago

8 0

Answer:

As the price rises, the quantity demanded decreases and the quantity supplied increases.

Explanation:

When a shortage occurs, demand for a product is high and is not being matched by supply (supply is low).

So to bring demand down and increase supply, we need to increase the price.

According to the law of demand and increase in price results in a decrease in demand.

The law of supply states that when price increases there will be an increase in supply, making more goods available and eliminating shortage.

This is illustrated in the attached diagram.

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Exercise 14-04 a-c Bonita Company reports the following costs and expenses in May. Factory utilities $16,000 Direct labor $72,70

PilotLPTM [1.2K]

Answer:

Factory Overheads $182,420

Manufacturing overhead $ 396,820

Product costs $396,820

Period costs $ 75,720

Explanation:

Bonita Company

Direct materials used 141,700

Direct labor $72,700

Factory Overheads $182,420

Factory utilities $16,000

Depreciation on factory equipment 14,250

Property taxes on factory building 2,600

Indirect factory labor 53,500

Indirect materials 85,000

Factory repairs 2,970

Factory manager’s salary 8,100

Manufacturing overhead $ 396,820

Product costs $396,820

Advertising 15,600

Office supplies used 3,420

Sales salaries 50,000

Depreciation on delivery trucks 4,900

Repairs to office equipment 1,800

Period costs $ 75,720

Manufacturing Costs are costs used in the manufacture of products.

Product Costs = Direct materials + Direct Labor + Manufacturing Overheads

Period Costs include Marketing and Selling Expenses , Administrative Expenses.

5 0

2 years ago

Rachel is on her way to an interview for the position of a project manager. She is trying to prepare for this interview by analy

anzhelika [568]

Answer:

B) she was very calm under pressure

Explanation:

A project manager is a designation in which the management and the responsibility of the entire project lie in the hands of an individual. The responsibilities of planning, running and the execution of the project is undertaken by the project manager.

From the given options, the soft skill of keeping very calm under pressure will be the most relevant for Rachel. All the other three options are the skills relevant for a specific proficiency in the technical field. To be a project manager, calmness, and efficiency to work under pressure is required.

6 0

3 years ago

17. Functions of a business. Name and explain

ivanzaharov [21]

Answer:

Glossary

Explanation:

Business functions are the activities carried out by an enterprise; they can be divided into core functions and support functions

7 0

2 years ago

A holder of Rainbow Funds convertible bonds with a $1,000 par and a $1,100 price can convert the bond to 25 shares of common sto

omeli [17]

Answer:

22.22%

Explanation:

Currently Rainbow's stocks are priced at $36 per stock.

If the holder can convert his $1,100 bond into 25 stocks, that means that each stock should be worth at least $44 (= $1,100 / 25).

So the current stock price should increase by $8 (= $44 - $36) in order for a trade to be attractive, $8 represents a 22.22% increase (= ($8 / $36) x 100)

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3 years ago

What are possible problems that can happen when karst aquifers are refilling during storms?

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3 years ago