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DochEvi [55]
3 years ago
15

Draw a supply curve of smartphones. Label it. Use any prices and quantities you wish but make your supply curve obey the law of

supply. Then draw an arrow to indicate what happens to the quantity of smartphones supplied when the price of a smartphone rises. A rise in the price of a smartphone​ ______ the quantity supplied and​ ______ supply.
Business
2 answers:
stepladder [879]3 years ago
7 0

Answer:

A rise in the price of a smartphone​ <u>increases</u> the quantity supplied and​ <u>cause a rise in</u> supply

Explanation:

The law of supply is a fundamental principle of economic theory which states that, keeping other factors constant, an increase in price results in an increase in quantity supplied. In other words, there is a direct relationship between price and quantity: quantities respond in the same direction as price changes.

Law of supply depicts the producer behavior at the time of changes in the prices of goods and services. When the price of a good rises, the supplier increases the supply in order to earn a profit because of higher prices.

The suppliers of smartphones will have more supplies readily available in order to maximize profit.

svet-max [94.6K]3 years ago
4 0

Answer:

<u>Increases; changes</u>

Explanation:

The law of supply states that when prices of a commodity (smartphone) rises, the supply (from producers/manufacturers) increases the quantity supplied of that product <em>since it provides opportunity for them to make profit.</em>

And this quantity supply increase will <em>definitely lead</em> to increase supply of that product.

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Allocating Joint Costs Using the Net Realizable Value Method
Ilya [14]

Answer:

Allocating Joint Costs Using the Net Realizable Value Method

1. Joint Cost

Grades Allocation

L-Ten   $1,850

Triol      6,569

Pioze     3,881

Total $12,300

2. Joint Cost

Grades Allocation

L-Ten   $2,112

Triol      5,756

Pioze    4,432

Total $12,300

Explanation:

a) Data and Calculations:

Cost of each production run = $12,300

Product    Gallons  Further Processing     Eventual Market   Net Realizable

                                Cost per Gallon          Price per Gallon         Value

L-Ten          3,200              $0.70                       $2.10                $4,480

Triol            3,700                  1.10                         5.40                 15,910

Pioze         2,000                  1.50                        6.20                  9,400

Total          8,900                                                                      $29,790

Allocation of join cost:

L-Ten = $4,480/$29,790 * $12,300 = $1,850

Triol = $15,910/$29,790 * $12,300 = $6,569

Pioze = $9,400/$29,790 * $12,300 = $3,881

Product    Gallons  Further Processing     Eventual Market   Net Realizable

                                Cost per Gallon          Price per Gallon         Value

L-Ten          3,200              $0.70                       $2.10                $4,480

Triol            3,700                 2.10                         5.40                 12,210

Pioze         2,000                  1.50                        6.20                  9,400

Total          8,900                                                                      $26,090

Allocation of join cost:

L-Ten = $4,480/$26,090 * $12,300 = $2,112

Triol = $12,210/$26,090 * $12,300 = $5,756

Pioze = $9,400/$26,090 * $12,300 = $4,432

7 0
3 years ago
The following income statement was produced when volume of sales was at 400 units. Sales Revenue $ 1,600 Variable Cost 700 Contr
lilavasa [31]

Answer:

If volume reaches 500 units, net income will be: $715

Explanation:

When  volume of sales was at 400 units:

Selling price per unit = Sales Revenue/400 = $1,600/400 = $4

Variable Cost per unit = Variable Cost/400 = $700/400 = $1.75

If volume reaches 500 units:

Total Sales Revenue = $4 x 500 = $2,000

Variable Cost = $1.75 x 500 = $875

Fixed Cost will not change = $410

Net income = Total Sales Revenue - Variable Cost - Fixed Cost = $2,000 - $875 - $410 = $715

7 0
3 years ago
Jim gets a job in a group home for disabled adults. The executive director tells Jim that if he works hard and earns favorable r
Sveta_85 [38]

Answer:

A) meritocratic.

Explanation:

Meritocratic:   It is defined as a social system where people´s status and success depend on their talent, skills, and contribution to society rather than wealth or social position. It gives priority to merit in society and promotes equality in society. The opposite of meritocratic is nepotism, which creates a gap in a society and provides an opportunity to only a privileged one.  Meritocracy term was first time used by Michael Young.

In the given case, Jim get a job, where executive director tell him that if he works hard and earns favorable reviews, he could work his way up to a position of greater responsibility and income. Therefore, such system is referred as Meritocratic.

3 0
2 years ago
Estee Lauder advertises a new facial cream by putting free samples of the cream in a magazine. The extent to which a product or
Jobisdone [24]

Answer:

d) Trialibility.

Explanation:

Under trialibility a customer can take trial of the product and then, take a decision whether to adapt the product or not.

In this manner, company saves itself from launching the product at complete market level, and incurring cost at the same level.

In the given instance also, company, launches the product on a trial basis and the launch is limited to specific users, that is the product is on trial and then the launch will be made at full commitment only when the trial period will be successful.

Therefore, correct term is

Trialibility

3 0
3 years ago
A tax that covers both social security and medicare? ____
Mumz [18]

The combination of Social Security taxes and Medicare taxes is referred to as FICA.

8 0
3 years ago
Read 2 more answers
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