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4 years ago

When the selling price of a good goes up, what happens to the quantity supplied?

Business

1 answer:

Anna35 [415]4 years ago

7 0

Answer:

quantity demanded decrease

Explanation:

The law of supply asserts that if the price of a product increases, the quantity supplied rises. Firms will be willing to avail more goods and services in the markets at high prices. Businesses are profit-motivated. High prices mean a high margin level which is an opportunity for firms to make higher profits. With higher prices, firms tend to employ more workers to boost production.

A reduction in prices causes firms to cut down their production. Low prices imply low margins hence low profitability. A reduction in prices can force some firm to exit the market

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Rubio recently invested $20,000 (tax basis) in purchasing a limited partnership interest. His at-risk amount is $15,000. In addi

Sindrei [870]

Answer:

Please see attachment .

Explanation:

Please see attachment .

7 0

4 years ago

Justin is the CEO of Nexon Inc. He works in an open office and encourages his employees to approach his desk any time of day. Ju

nikitadnepr [17]

Answer:

The answer is: Democratic management style

Explanation:

This management style is based on the belief that two heads are better than one, and that every employee (no matter position they hold) deserves to have a say.

So managers that follow this style usually encourage their employees to participate and share their ideas and suggestions. They tend to create horizontal organizations, but the final and last decision still belongs to the boss.

Employees usually like this system because they feel they are a valuable and important part of the organization. Many times it leads to higher efficiency and productivity.

As a downside, these organizations tend be more messy (informal) and decision making processes are very time consuming.

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4 years ago

Which person argued that a corporate manager's primary responsibility is to the shareholders of the organization and that manage

Maksim231197 [3]

Answer:

d. Milton Friedman

Explanation:

Milton Friedman is an American economist that believed in the free market capitalism. He was a free market advocate. He therefore advocated that the social responsibility of a manager is to maximize shareholders returns.

6 0

3 years ago

Read 2 more answers

Which of the following is included in the consumption component of U.S. GDP? Question 12 options:

frosja888 [35]

Answer:

Answer is option b, i.e. purchase of natural gas by U.S. households.

Explanation:

Consumption component of U.S. GDP includes purchase of various durable goods, non-durable goods, and also various intangible services. But anything that is purchased as a means of investment rather than for personal consumption is not regarded as consumption component in GDP. Here, purchase of newly constructed houses is an asset and thus, is not included in these components. Similarly, purchase made for business purposes is also excluded from the list of consumption components.

8 0

4 years ago

The Step Company has the following information for the year just ended: Budget Actual Sales in units 15,000 14,000 Sales $ 150,0

alekssr [168]

Answer:

$7,000 Favourable

Explanation:

Calculation to determine what The Step Company's sales-price variance is:

Using this formula

Sales Price Variance = (Actual Sales Price – Budgeted Sales Price) * Actual Sales Volume

Let plug in the formula

Sales Price Variance=[($ 147,000÷14,000)-(150,000/15,000)]*14000

Sales Price Variance = ($10.5 – $10) * 14000

Sales Price Variance = $7,000 Favorable

Therefore The Step Company's sales-price variance is: $7,000 Favorable

The Step Company has the following information for the year just ended: Budget Actual Sales in units 15,000 14,000 Sales $ 150,000 $ 147,000 Less: Variable Expenses 90,000 82,600 Contribution Margin $ 60,000 $ 64,400 Less: Fixed Expenses 35,000 40,000 Operating Income $ 25,000 $

5 0

3 years ago