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rewona [7]
3 years ago
8

Kiwis and strawberries are substitutes for consumers. An increase in the price of a kiwi coupled with an increase in the number

of strawberry growers​ ________ the equilibrium price of a pound of strawberries and​ ________ the equilibrium quantity of strawberries.
a) raises; increases
b) probably changes, but more information is needed to determine if it rises or falls; increases
c) raises; probably changes, but more information is needed to determine if it increases or decreases
d) lowers; probably changes, but more information is needed to determine if it increases or decreases
e) lowers; increases
Business
1 answer:
valentina_108 [34]3 years ago
8 0

Answer:

The correct answer is D

lowers; probably changes, but more information is needed to determine if it increases or decreases

Explanation:

The increase in suppliers for strawberries causes the supply curve to shift to the right causing the equilibrium price to lower fro Po to P1.

The increase of price for Kiwis will move the price from Po to P1. The new price is not at equilibrium, as there has not been a shift in demand or supply as shown in the diagram.

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4 years ago
Lorenzo manages a grocery store in a country experiencing a high rate of inflation. He is paid in cash twice per month. On payda
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Answer:

This is an example of shoe-leather costs of inflation.

Explanation:

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3 years ago
You decide to open a savings account, and you notice a sign in your bank that indicates deposits are fdic insured. what protecti
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3 years ago
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ABC Company keeps their accounting records on the cash basis. During the year, ABC received $260,000 from clients, and ABC paid
Leokris [45]

Answer:

a. $181,000

Explanation:

The Income Statement consists of Revenue and Expenses recorded on Accrual Basis. The Accrual Basis of Accounting states that Revenue and Expenses must be recorded as and when they Occur or Incur not when cash is paid or received.

Calculation of Net Income will thus be as follows :

Revenue Received                                  $260,000

Unearned Revenue($65,000-$35,000) $30,000

Total Revenue                                          $290,000

Less Expenses :

Expenses ($85,000+$26,000-$28,000) $83,000

Depreciation                                              $16,000

Net Income                                                $181,000

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