The market price of airline flights increased recently. Some economists suggest that the price increased because several airline
s went out of business. They believe that, in the market for flights:
a. demand increased.
b. supply increased.
c. demand decreased.
d. supply decreased.
a. demand increased.
b. supply increased.
c. demand decreased.
d. supply decreased.
1 answer:
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Answer:
Note: <em>The organized question is attached</em>
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d. Net income = Income from operating - Other expenses and losses
Net income = $15,000 - $4,000
Net income = $11.000
f. Gross profit - Sales - Cost of goods sold
$38,000 = $95,000 - Cost of goods sold
Cost of goods sold = $95,000 - $38,000
Cost of goods sold = $57,000
h. Income from operations = Net income - Other expenses and losses
Income from operations = $11,000 + $7,000
Income from operations = $18,000
g. Income from operations = Gross profit - Operating expenses
$18,000 = $38,000 - Operating expenses
Operating expenses = $38,000 - $18,000
Operating expenses = $20,000
