A change in quantity supplied is a movement along the supply curve, while a change in supply is a shift in the supply curve.
<h3>What is a supply curve?</h3>
The supply curve is a positively sloped curve that shows how quantity supplied changes with price of the good. All things being equal, the higher the price of the good, the higher the quantity supplied.
<h3>What is a change in supply and a change in quantity supplied?</h3>
A change in quantity supplied is as a result of a change in the price of the good. If price increases, quantity supplied increases and if it decreases, quantity supplied decreases.
A change in supply is caused by other factors other than price. Some of these factors include:
- A change in the number of suppliers
- The cost in the price of raw materials needed in the production of the good.
A change in supply leads to a movement outward or inward.
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Answer:
Correct option is C
<u>Overall operating income will decrease by $25,000.</u>
Explanation:
Sales ratio = Sales of product 1 : Sales of product 2 = 200,000:300,000 = 2:3
Sum of sales ratio = 2+3 = 5
Common fixed cost:
Product 1 = 2/5×46,000 = $18,400
Product 2 = 3/5×46,000 = $27,600
Total net operating income = Net operating income of product 1 + Net operating income of product 2 = 46,600+(2,600) = 46,600-2,600 = $44,000
Now, comparing with the total net operating income of both the product ($44,000) with only product 1 ($19,000); overall operating income decreases by $25,000 (44,000-19,000)
This is false. When inflation happens, prices go up in the economy.
<span>Too find he lowest units price you divide the price per pound by the number of pounds. At the first store it is roughly 44 cents per unit. The second store is about 33 cents per unit. The lower unit price is 33 cents per pound at the second store.</span>
Answer:
The correct answer is option a.
Explanation:
The long run aggregate supply curve is inelastic and vertical in shape. The reason behind this is that in the long run the output level is not affected by the change in price level. It is rather affected by the quantity of inputs.
A leftward shift in the long run aggregate supply means that the output level is decreasing. This decrease in input in this case is either because of decrease in quantity of labor available,or because of increase in minimum wages the firms are hiring less labor.
So, option a is the correct answer.
