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adelina 88 [10]
3 years ago
13

Consider this scenario: in response to an increase in the product's price, producers of mp3 players have increased the quantity

supplied. this is an example of ____________________.
Business
1 answer:
kvv77 [185]3 years ago
7 0
<span>Consider this scenario: in response to an increase in the product's price, producers of mp3 players have increased the quantity supplied. this is an example of Law of Supply.  </span><span>The </span>law of supply<span> states that the quantity of a good supplied rises as the market price rises, and falls as the price falls. </span>
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Marcus, a high school student, works at a lumberyard making $10.50 an hour. with his academic and sports schedule, he is able to
max2010maxim [7]
Given:
salary: <span>$10.50 an hour
25 hours a week

expenses:
Cellphone bill: $65/month
car insurance: $1,200/yr
*20% taxes.

There is no specific question but I will solve for Marcus net earnings for the year.

25 hours/week * 52 weeks/yr = 1,300 hours/year

Wages: 10.50 per hour * 1,300 hours/year = $13,650 Gross salary per year
Taxes: 13,650 * 20% = 2,730 

13,650 - 2,730 = 10,920 net salary for the year

Cell phone bill: 65 per month * 12 months = 780

Net salary:         10,920
Cell phone bill       (780)
Car insurance: <u>    (1,200)</u>
Net Income:       8,940 per annum.




</span>
3 0
3 years ago
One day, Barry the Barber, Inc., collects $500 for haircuts. Over this day, his equipment depreciates in value by $80. Of the re
zheka24 [161]

Answer:

Gross Domestic Product

= $500

<em>GDP is the final value of goods and services. The haircut is valued at $500 so is GDP. </em>

Net National Product:

= GDP - Depreciation

= 500 - 80

= $420

National Income

= $420

<em>This is the income that a resident of the country earns and $420 is what Barry earned in net income.</em>

Personal Income

= National income - Retained earnings

= 420 - 120 - 50

= $250

Disposable Personal Income (Dollars)

= Personal income - income taxes

= 250 - 90

= $160

4 0
3 years ago
In January, 2006, Findley Corporation purchased a patent for a new consumer product for $720,000. At the time of purchase, the p
bezimeni [28]

Answer:

b. $360,000.

Explanation:

Data provided in the question

Purchase value of the patent = $720,000

At the time of purchase, the patent life is 15 years

And, the useful life of the patent is 10 years

So, the amortization expense recorded value is

= $720,000 ÷ 10 years × 5 years

= $360,000

The five years is counted from the year 2006 to the year 2011

8 0
3 years ago
Consider the following information about production in quarter 1 of 2019. Firm T produces 600 tires at a cost of $28 each, and s
bekas [8.4K]

Answer:

$3,860

Explanation:

<u>Value of stock at the end of Firm T:</u>

Firm T has stock of 20 tires at the end of the year

The cost price is $28 per tire

Value = Closing stock * Cost price of each tIres

Value = 20 * $28

Value = $560

<u />

<u>Value of stock at the end of Firm B:</u>

Firm B has stock of 10 bicycles at the end of the year

The cost price is $330 each

Value = Closing stock * Cost price of each bicycle

Value = 10 * $330

Value = $3,300

Value of the inventory investment = Value of stock at the end of Firm T + Value of stock at the end of Firm B

Value of the inventory investment = $560 + $3,300

Value of the inventory investment = $3,860

8 0
3 years ago
Net income increases when: Group of answer choices fixed costs increase. depreciation increases. the average tax rate increases.
worty [1.4K]

Net income increases when "revenue" increases.

<h3>What is revenue?</h3>

The overall revenue generated by a business over a predetermined period of time. This can be done by-

  • The entire income generated by a specific source, such as a property with high predicted yearly returns.
  • The total income a financial investment generates.
  • The amount of revenue that a political entity, such as a country or state, collects and deposits into the treasury for use by the general public.
  • The simplest way to determine revenue is to multiply the total number of units sold by the selling price.
  • A company's earnings, or bottom line, will be lower than its sales because revenues do not take expenditures or expenses into account.

To know more about the financial investment, here

brainly.com/question/334960

#SPJ4

5 0
2 years ago
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