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frez [133]
3 years ago
11

A decrease in the number of sellers in the market causes

Business
1 answer:
Arte-miy333 [17]3 years ago
5 0

In the market economy there are two important factors, supply and demand, which are the regulators of the market price.

The offer is conditioned by fators such as technological advances, the number of sellers, the cost of supplies, and the expectations of sellers.

Thus, a change in these factors has an impact on the supply curve, which marks the relationship between prices and quantity, in the case of the number of sellers, as the number decreases, so will the quantities available, so the curve would experience a <em>movement to the left</em>.

Answer

(A) the supply curve to shift to the left.

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Answer:

Pay the claim and the accident occurred during the grace period

Explanation:

Grace period is the period or the set length of the time after the due date during that the payment is to be made without any penalty by the insurer or the person.

The grace period mostly is of 15 days and it is usually involves in the insurance contact and the mortgage loan.

So, in this case, the insurer forget to pay the premium but on march 19, she met with an accident and broke her leg, then the insurance company will be paying the claim as the accident happened during the grace period.

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3 years ago
Whispering Winds Manufacturing has an annual capacity of 81,000 units per year. Currently, the company is making and selling 78,
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Answer:

Net loss from accepting the order  $(56,200 )

Explanation:

Note that Whispering Winds Manufacturing currently has excess capacity

Excess capacity = 81,000 - 78,200 = 2800  units

The relevant cash flows associated with this special order are as follows:

  1. The increase in contribution from meeting part of the offer from the excess capacity
  2. Opportunity cost associated with meeting the part of the special order from existing sales.

Note that the special order would be met as follows

2800 from the excess capacity

<u>2600 </u> from existing sales

<u>5400</u>

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<em>Total contribution from special order:</em>

(70-65) × 5400                                                              27000

<em>Contribution lost from selling 2,600</em>

<em>at a reduced price:</em>

(102-70)  × 2,600                                                       <u>  (83,200) </u>

Net loss from accepting the order                             (<u>56,200</u> )

                                             

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(b) Business transaction occurs.

(c) Information entered in the journal.  It includes the narration part

(a) Debits and credits posted to the ledger to their respective accounts

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