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3 years ago

What is the difference between supply and quantity supplied?

1 answer:

5 0

Supply is the amount of goods and services that sellers will sell at a different price over a given period of time while is the quantity of a commodity that producers are willing to sell at a particular price at a particular point of time.

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Accounting professors earn more than English professors at most universities. Explain this with a supply and demand graph.

GenaCL600 [577]

I will assume here (since I don't have more information) that each school needs one English and one Accounting professor, but that more people are ready to teach English than accounting (this assumption might be wrong, but it's what think)

therefore the supply is bigger for the English professors than for the Accounting professors -this means that the accounting professors can ask for bigger salary (the bigger the supply, the smaller the prize)

3 0

3 years ago

You are the manager of a theater. At present the theater charges the same admisssion price of $8 to all customers, regardless of

Goshia [24]

Answer:

Explanation:

Provided that the demand is inelastic, there would be an increment in revenue.

Total revenue is calculated as the quantity of a good sold multiplied by its price.

There is a close interrelation between price elasticity of demand and total revenue, in the sense that they deal with the same two variables - which are price and quantity.

If the product has an elastic demand, revenue can be increased by decreasing the price of the good. Q will increase at a greater rate, while P will decrease, thereby, increasing the total revenue.

If the product has an inelastic demand, then the prices of goods can be increased and sold slightly less of that item but a higher revenue must be obtained.

7 0

3 years ago

Which of these is the most likely outcome of a financial crisis?

abruzzese [7]

More bankruptcies because if there is a crisis people are losing a lot of money and are more than likely filling for bankruptcies.

5 0

3 years ago

Read 2 more answers

A classified income statement has four major sections—operating revenues, cost of goods sold, operating expenses, and non-operat

Advocard [28]

Answer: False

Explanation:

The statement in the question that a classified income statement has four major sections which are the operating revenues, cost of goods sold, operating expenses, and non-operating revenues and accounts receivables is not true.

It should be noted that a classified income statement is made up of the revenue, the expenses and the non operating revenues and expenses.

3 0

3 years ago

Mill Company began operations on January 1,2017, and recognized income from construction-type contracts under different methods

ANTONII [103]

Answer:

i. Deferred income taxes balance on December 2019 is $192,500

ii. Deferred tax asset.

Explanation:

Year Tax purpose Book purpose Difference Deferred tax book

2017 $400,000 $0 $400,000 $140,000

2018 $625,000 $375,000 $250,000 $87,500

2019 $750,000 $850,000 ($100,000) ($35,000)

Deferred tax asset balance on December 2019 = $192,500

Working

Deferred tax book

2017 = 400,000 * 35% = $140,000

2018 = 250,000 * 35% = $87,500

2019 = (100,000) * 35% = ($35,000)

ii. Book income is less than tax income in 2017 and 2018. Deferred tax asset would be accounted. Book income is higher than tax income in 2019. Deferred tax asset would be reverse (i.e. deferred tax liability). Balance at the end of December 31, 2019 would be Deferred tax asset.

4 0

3 years ago