Answer:
see below
Explanation:
A positive correlation signifies that an increase in one variable results in the other variable moving in the same direction. Because supply and price are positively correlated, a price increase will increases supply. The opposite is also true.
Suppliers are business people whose main objective is to make profits. Higher prices give higher margins. Suppliers make higher profits when prices are high. The possibility of making higher profits motivates suppliers to increase supplies to the market. On the other hand, low prices may result in losses. When prices are low, supplies will shy away from the market to avoid making losses.
I believe the answer is B! Let me know if I am right:)
Answer:
(A) $144,000.
Explanation:
For computing the indirect costs allocated to the Commercial Department first we have to compute the per unit cost which is shown below:
Per unit cost = (Allocated department overhead indirect cost) ÷ (total number of direct labor hours)
= $396,000 ÷ 22,000
= $18
The total number of direct labor hours = Consumer + commercial
= 14,000 + 8,000
= 22,000
Now the indirect cost equal to
= Per unit cost × Commercial direct labor hours
= $18 × 8,000
= $144,000
Answer:
no surplus or shortage
Explanation:
Equilibrium price is the price at which quantity demand equal quantity supplied. Above equilibrium price there is a surplus - quantity supplied exceeds quantity demanded.
Below equilibrium price there is a shortage - quantity demanded exceeds quantity supplied
If demamd increases by 100, new equilibrium is 40
Thus, ceiling price equal equilibrium
Price ceiling is when the government or an agency of the government sets the maximum price for a product. It is binding when it is set below equilibrium price.
Effects of a binding price ceiling
It leads to shortages
it leads to the development of black markets
it prevents producers from raising price beyond a certain price
It lowers the price consumers pay for a product. This increases consumer surplus
Answer:
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