It is likely that the increase in the price of hamburgers is related to the fact that demand is greater than supply.
<h3 /><h3>What is the law of supply and demand?</h3>
It is an economic approach to understanding the economic factors that influence the quantity of a product supplied in a market and its price.
Therefore, when there is more demand than supply for a good available in the economy, it means a situation of scarcity, which makes prices rise.
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Answer:
The answer is given below;
Explanation:
a. Depletion Expense for the year ($7,500,000/600,000)*100,000=$1,250,000
b. The net income and as a results retained earnings will be reduced $1,250,000
c. The mineral rights will be reported at $7,500,000-$1,250,000 =$6,250,000
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Answer:
Charles is classified in the adopter category called "Latecomers"
Explanation:
Latecomers are traditional consumers. For them, buying a new product brings a feeling of extreme psychological discomfort. They do not like news, even flee from it, and consider it immature to buy an innovative article in the market.
Latecomers represent 16% of consumers, are insecure to adopt new things, do not like to try new things and do not follow fads. Being traditionalists, they always perform the same way and only adopt innovation when there is no other alternative. Like Charles, who only bought the color TV because his old tv stopped working.
