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mel-nik [20]
3 years ago
10

How does a market surplus affect prices and consumer demand for a product?

Business
1 answer:
s2008m [1.1K]3 years ago
8 0

Answer

<u>Market surplus will lower the prices for goods and increase the consumer quantity demand for the products.</u>

Explanation

A market surplus is when there is excess supply. The quantity supply in this case is greater than the quantity demanded. Producers will be faced with a hard time to sell all their goods. This will make them lower their prices to make their products more appealing to consumers. Firms will also have to lower market prices in order to stay competitive. In response to the reduced prices, consumers will increase the quantity demanded thus moving the market to an equilibrium price and quantity. This is a case where excess supply has exerted a downward pressure on the prices of the products.



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Anner Manufacturing is developing an activity-based costing system to improve overhead cost allocation. One of the first steps i
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Answer:

When you collect all the costs related to performing a particular activity (e.g. producing a product), you have created an activity cost pool. This helps to get an accurate estimate of the cost of that activity or task and is mostly applied in <em>activity-based costing system</em>. Different activities may require different cost pools.

The activities below are thus classified accordingly:

1. Labelling and Packaging - <em>Batch Cost Pool</em>

2. Plant Security - <em>Facility Level Cost Pool</em>

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3 0
4 years ago
A customer submits a written complaint disputing monetary charges assessed against an account held at a member broker-dealer. re
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The International Classification of Health Interventions (ICHI) and the International Classification of Medical Procedures (ICPM)

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4 0
1 year ago
As a company grows, it may become necessary for it to create an ______
viva [34]

<u>Answer:</u>

<em>As a company grows, it may become necessary for it to create an </em><u><em>Organizational chart</em></u><em> which is a visual display of the organizational structure which contains lines of authority (chain of command),  staff relationships,  permanent committee arrangements, and lines of communication.</em>

<em></em>

<u>Explanation:</u>

The organization chart is a chart indicating the connection of one department graphically to another, or others, of an organization. It is additionally used to show the relationship of one office to another, or others, or of one capacity of an association to another, or others.  

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4 0
4 years ago
Use the information below for Jensen Company to answer the question that follow. Direct materials used $345,000 Direct labor inc
AnnZ [28]

Answer:

b.$995,000

Explanation:

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Direct materials used $345,000

Direct labor incurred 250,000

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Therefore Jensen Company's product costs is $995,000

Direct materials used $345,000 + Direct labor incurred 250,000 +Factory overhead incurred 400,000 =$995,000

8 0
3 years ago
Read 2 more answers
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