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3 years ago

For most automobile manufacturers, what happens to the elasticity of supply over time?

1 answer:

3 0

For most automobile manufacturers, the elasticity of supply over time REMAINS THE SAME.
Automobile manufacturing takes time, it may take an automobile company several months to years before it can switch from constructing one type of car to another type. Such a company will have relatively inelastic supply in the long run compared to other products whose production process can be easily changed.

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Camden Biotechnology began operations in September 2013. The following selected transactions relate to liabilities of the compan

USPshnik [31]

Answer:

Cash (Dr.) $12,000,000

Short term notes payable (Cr.) $12,000,000

Cash (Dr.) $2,600

Liability of refundable (Cr.) $2,600

Interest Expense (Dr.) $250,000

Interest Payable (Cr.) $250,000

Accounts receivable (Dr.) $4,100,000

Sales Revenue (Cr.) $3,977,000

Sales Tax Payable (Cr.) $123,000

Cash (Dr.) $10,000,000

Bond Payable (Cr.) $10,000,000

Explanation:

Liability Schedule 2013,

Accounts Payable $252,000

Current Portion of notes payable $2,000,000

Interest Payable $250,000

Sales tax Payable $123,000

Liability for refundable deposit $2,600

Total Current Liability $2,627,600

4 0

3 years ago

Norman Company manufactures customized desks. The following pertains to Job No. 953: Direct materials used $18,800 Direct labor

Simora [160]

Answer:

$40,400

Explanation:

The total manufacturing cost is shown below:

= Direct material used + Direct labor hours worked × Direct labor rate per hour + Machine hours used × Applied factory overhead rate per machine hour

= $18,800 + 600 hours × $16 + 400 hours × $30

= $18,800 + $9,600 + $12,000

= $40,400

The Direct labor hours worked × Direct labor rate per hour is also known as direct labor cost and the Machine hours used × Applied factory overhead rate per machine hour is also known as factory overhead cost

6 0

4 years ago

markets for goods and services appear in a number of forms. in perfectly (or purely) competitive markets: i. there are large num

Dmitrij [34]

Markets for goods and services appear in a number of forms. in perfectly (or purely) competitive markets:

i. there are large numbers of independently acting buyers and sellers

ii. the good that is produced and traded is homogenous or standardized.

<h3>What are competitive markets?</h3>

A competitive markets, also known as an atomistic market, is defined by a number of idealizing conditions, which are together referred to as perfect competition, or atomistic competition, in the field of economics, notably general equilibrium theory.
It has been shown that in theoretical models with competitive markets, a market will eventually find an equilibrium where the supply of all goods and services, including labor, equals the demand for all goods and services at the price in question.It would be Pareto optimal for this equilibrium to exist.
The two types of efficiency that competitive markets offers are allocative and productive. In the near term, completely competitive marketplaces are not always productively efficient since output does not always occur where marginal cost equals average cost.

To know more about competitive markets with the given link

brainly.com/question/13686157

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8 0

2 years ago

If you are insolvent, what is something you can do, but should only be used as last resort

sammy [17]

Answer:

Bankruptcy should be only used as a last resort.

6 0

3 years ago

Which of these describes what can happen with an adjustable-rate mortgage?