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Karolina [17]
3 years ago
12

When Hurricane Katrina shut down many oil refineries, the supply curve for oil

Business
2 answers:
Nikitich [7]3 years ago
4 0
When Hurricane Katrina shut down many oil refineries, the supply curve for oil <span>shifted to the left. This is because the oil refineries in the Gulf of Mexico shut down which meant the supply for oil dropped.</span>
zhenek [66]3 years ago
4 0

Answer: Option A

Explanation: In simple words, supply refers to the quantity that the producer is willing to offer and sell to the market at a given price. When the natural calamity shuts down the oil refineries the ability of the producer to supply oil will decrease eventually leading to decrease in supply.

The decrease in supply will shift the supply curve to the left. Hence the correct option is A.

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Bob manages a grocery store in a country experiencing a high rate of inflation. To keep up with inflation, he spends a lot of ti
Kitty [74]

Answer:

A. Menu Cost

Explanation:

7 0
3 years ago
The business cycle affects output and employment in capital and durable goods industries more severely than in industries produc
Virty [35]

Answer:

During a recession business investment in new capital goods and consumer spending on new durable goods can be postponed

Explanation:

The business cycle are simply cycles or series of cycles of economic expansion and contraction.

An Economic expansion is simply defined as an increase in the level of economic activity, goods and services available. It is a period of economic growth usually measured by a rise in real GDP.

Economic growth

Economic growth is an increase in the capacity of an economy to produce goods and services, usuallycompared from one period of time to another time.

The four phases of the business cycle are;

1. Peak

2.Recession

3. Trough

4. Expansion

The length of a complete cycle usually varies from 2-3 years to 15 years.

6 0
2 years ago
Joe wants to be able to purchase a dream car on January 1,2004, just after he graduates from college. Joe has had a part time jo
Bad White [126]

Answer:

FV= $46,031.45

Explanation:

Giving the following information:

Monthly deposit= $450

Number of months= 59

Interest rate= 0.21/12= 0.0175

To calculate the final value, we need to use the following formula:

FV= {A*[(1+i)^n-1]}/i

A= monthly deposit

FV= {450*[(1.0175^59) - 1]} / 0.0175 + 450

FV= $46,031.45

5 0
3 years ago
Mannarelli Corporation uses the FIFO method in its process costing system. Operating data for the Casting Department for the mon
Serjik [45]

Answer:

$ 5.34

Explanation:

Calculation for cost per equivalent unit for conversion costs for September

First step is to find the Equivalent units of production

To complete beginning work-in-process:

Conversion 12,000

[15,000 units × (100%-20% )]

Units started and completed 65,000

(89,000-24,000)

Ending work-in-process

Conversion 21,600

(24,000 units × 90%)

Equivalent units of production 98,600

Second step is to calculate the Cost per equivalent unit using this formula

Cost per equivalent unit =Cost added during the period ÷Equivalent units of production

Let plug in the formula

Cost per equivalent unit = $526,524÷98,600

Cost per equivalent unit = $5.34

Therefore The cost per equivalent unit for conversion costs for September is closest to $ 5.34

7 0
3 years ago
Beaver Corporation reported taxable income of $500,000 from operations this year. During the year, the company made a distributi
loris [4]

Answer:

Beaver's total taxable income and federal income text paid as result of distribution is $500,000 and $105,000 respectively.

Explanation:

The computation of the taxable income and the federal income is shown below:

Taxable income = Taxable income + loss

                           = $500,000 + $0

                           = $500,000

Since the fair value is $20,000 is less than the mortgage on land i.e $25,000 so it would be a loss of $5,000 which would not be considered so we put the value zero.

And, the federal income equal to

= Taxable income × income tax rate

= $500,000 × 21%

= $105,000

4 0
3 years ago
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