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3 years ago

When the price of a good is high, selling the good is profitable, and so the quantity supplied is large.

Business

1 answer:

STatiana [176]3 years ago

6 0

False, since higher prices pushes away consumers but lower prices increases consumers.

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Many poverty scholars call for a modification of the poverty measure to reflect changing housing costs or to reflect the fact th

vovikov84 [41]

Answer:

that there's a need for an improved poverty measure.

Explanation:

It is interesting to note that poverty has a defined measurement which helps Governments understand how taxes and government programs affect those who are poor.

However, due to changing housing costs and the fact that indoor plumbing was not common for rural families in the middle of the twentieth century it was necessary to modify the measures that defines a poor person.

3 0

3 years ago

Gomez runs a small pottery firm. He hires one helper at $13,000 per year, pays annual rent of $5,500 for his shop, and spends $2

alisha [4.7K]

Answer:

(a) $35,000

(b) $8,000

Explanation:

(a) Accounting profit:

= Total revenue - Explicit cost

= $75,000 - (wages + Annual rent + Material cost)

= $75,000 - ($13,000 + $5,500 + $21,500)

= $75,000 - $40,000

= $35,000

(b) Economic Profit:

= Total revenue - Explicit costs - Implicit costs

= $75,000 - (wages + Annual rent + Material cost) - (Income from investment + Earnings as a potter + Worth of entrepreneurial talents)

= $75,000 - ($13,000 + $5,500 + $21,500) - ($5,500 + $19,000 + $2,500)

= $75,000 - $40,000 - $27,000

= $8,000

8 0

3 years ago

Sound Company reported the following amounts for May, 2008: Direct materials purchased $254,000 Beginning raw materials inventor

Yakvenalex [24]

Answer:

$254,100

Explanation:

The computation of the cost of direct materials used in production is shown below:

= Direct materials purchased + Beginning raw materials inventory - Ending raw materials inventory - Indirect materials requisitioned and used

= $254,000 + $12,000 - $7,900 - $4,000

= $254,100

Hence, all the other information is not considered. Therefore, ignored it

6 0

3 years ago

Because there isn't one single measure of inflation, the government and researchers use a variety of methods to get the most bal

Paladinen [302]

Answer:

1. The GDP deflator for this year is calculated by dividing the value of all goods and services produced in the economy this year using this year's prices by the value of all goods and services produced in the economy this year using the base year's prices and multiplying by 100.

This is why the formula for the GDP deflator is = GDP by year n prices/ GDP by base year prices.

2. However, the CPI reflects only the prices of all goods and services bought by consumers. 

3. Which does an increase in the price of a Chinese-made car that is popular among U.S. consumers show up in? - B) CPI

The Chinese-made car is not made in the US and is included in the basket of goods consumers buy which is used to calculate calculate CPI.

4. Which does a decrease in the price of a Treewood Equipment feller buncher, which is a commercial forestry machine that cuts and stacks trees show up in? - A) GDP Deflator

This is not part of the goods in the basket and it is assumed to be made domestically so it is part of the GDP Deflator.

4 0

3 years ago

Does anyone have a perfect competition business example?

Nastasia [14]

Answer:

Perfect competition is a type of market structure where products are homogenous and there are many buyers and sellers. ... Whilst perfect competition does not precisely exist, examples include the likes of agriculture, foreign exchange, and online shopping.

Explanation:

3 0

3 years ago