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Nataly [62]
4 years ago
10

What is the difference between the law of supply and the law of demand

Business
1 answer:
Lyrx [107]4 years ago
5 0

Answer:

The law of supply states that the quantity of a good supplied (i.e., the amount owners or producers offer for sale) rises as the market price rises, and falls as the price falls. Conversely, the law of demand (see demand) says that the quantity of a good demanded falls as the price rises, and vice versa.

Explanation:

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Iron Man Foundry produces multiple products, one of which is casting a hose nozzle. The daily demand for these nozzles is 1,000
Alex777 [14]

Answer: 0.48 minutes

Explanation:

Takt time = Net time available / Daily demand

Net time available is number of minutes in a shift so:

= 8 hours * 60 minutes

= 480 minutes

Daily demand = 1,000 units

Takt time = 480 / 1,000

= 0.48 minutes

4 0
3 years ago
What is the best career to go for?
Soloha48 [4]

Answer: Well what things are you interested in?

Explanation:

6 0
3 years ago
Read 2 more answers
A department had 600 units which were 40% complete in beginning Goods in Process Inventory. During the current period, 7,000 uni
STALIN [3.7K]

Answer:

The equivalent units produced is 7320

Explanation:

To get the units produced in this period we ignore the beginning inventory, we just add new transferred out  +ending inventory

  • 7,000 units were transferred out  
  • Al the end , we have 800 at  40%= 320

Adding the 3 items

UP=7000+320=7320

4 0
3 years ago
Longstreet inc. has fixed operating costs of $300,000, variable costs of $2.50 per unit produced, and its product sells for $3.7
melamori03 [73]

Operating cost is $30000 
 Variable cost per unit is $ 2.50 
 Selling cost per unit is $3.70   
 Income for per unit sold = selling cost - variable cost 
   = 3.70 - 2.50 = 1.20 
 Income for per unit sold is $1.20 
 The value of Sales volume to equal the cost can be obtained by the following formula   
  Sales volume * Income per unit sold = operating cost 
  sales volume * 1.20 = 300000 
 sales volume = 3000000/1.20 = 250000    Hence Total sales volume unit to equal the operating cost is 250000 units
5 0
3 years ago
An exclusion of all products from certain countries or companies by a government or group is called a(n):
likoan [24]

Answer:

(E) boycott

Explanation:

Boycott refers to the avoidance of goods and products from an entity in an act of protest against an action by the entity. The entity could be a state, government, company, or any other body. The aim is usually to prevent economic benefits from flowing to the entity thereby forcing it to reverse the action being protested against.

Expropriation refers to the takeover of a property by a government usually for public use. Quota refers to limiting the quantity of goods to be imported from a foreign country to a given quantity. Tariff refers to a charge on imports from other countries. Exchange control refers to measures aimed at stabilizing the value of a nation's currency.

3 0
4 years ago
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