Answer: demand decreases and supply stays the same
Explanation:
The equilibrium price refers to the price whereby the quantity of goods that's demanded and the quantity of goods that's supplied is equal.
On the other hand, the equilibrium quantity is gotten when the quantity of goods demanded and supplied are equal. This is gotten when the demand curve and the supply curve intersects.
It should be noted that there will be a lower equilibrium price and quantity if
In a situation whereby the demand increases and the supply remains the same, the equilibrium quantity and the equilibrium price will increase and vice versa.
Answer:
The correct answer is letter "A": Merchandise Inventory.
Explanation:
Lower-of-cost-or-market value is a strategy by which the costs of inventory on the company's Balance Sheet is reported at historical value -purchase cost- or market value, whatever it is lower. The lower-of-cost-or-market approach considers the value of inventory can change, meaning it can increase but it can decrease as well. For both purposes, the lower-of-cost-or-market value can be used. This technique follows the Generally Accepted Accounting Principles (GAAP).
Therefore, <em>merchandise inventory, which can fluctuate in price during a period, is reported using the lower-of-cost-or-market value method.</em>
Answer:
Explanation:
Assume the <em>cost</em> equation to be:
Where 
is the number of units (wooden baseball bats) produced.
The <em>average cost per unit of production level</em> is the total cost divided by the number of units produced:
You are given that the <em>average cost per unit of a production level of 7,700 bats is $14</em>, then:
You are also given that the <em>fixed costs</em> are <em>$22,500</em>, thus A = 22,500. Hence, you can substitute the value of A in the previous equation and find B:
Now you can complete the cost equation:
And to predict the total costs for 8,600 bats you must subsitute x with 8,600 in the previous equation:
That would be E job completion paying extra to stay and get the work done is job completion.
