1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Masteriza [31]
3 years ago
14

A recent news story reported that the Organization of Petroleum Exporting Countries is expected to decrease the supply of oil ne

xt summer. Summer is traditionally a time of increased demand for oil because of vacation travel. What would be the combined effect of these two events on the summer market for gasoline? a. an increase in the price and the quantity.b. an increase in the price and an un-predictable change in the quantity.c. an un-predictable change in both the price and the quantity.d. an un-predictable change in the price and a decrease in the quantity.
Business
1 answer:
Nikolay [14]3 years ago
8 0

Answer:

The answer is: b

Explanation:

At equilibrium the quantity of oil supplied is equal to the quantity of oil demanded at the equilibrium price. In summer, two events will occur which will trigger a move from equilibrium.

  • A decrease in the supply of oil

Holding all else constant, a leftward shift in the supply curve leads to higher oil prices and lower quantities of oil.

  • An increase in the demand for oil

Holding all else constant, a rightward shift in the demand curve leads to higher oil prices and higher quantities of oil.

In both scenarios, the shifts will result in higher oil prices but the change in quantity is ambiguous.

You might be interested in
A company's planned activity level for next year is expected to be 200,000 machine hours. At this level of activity, the company
morpeh [17]

Answer:

a. $826,000.

Explanation:

The computation of the total manufacturing overhead is given below;

= (Indirect materials + indirect labor + factory supplies) ÷ expected machine hours × budgeted + (Depreciation + taxes + supervision)

= ($280,000 + $400,000 + $40,000) ÷ 200,000 × 160,000 + ($120,000 + $30,000 + $100,000)

= $826,000

Hence, the correct option is a.  

3 0
3 years ago
Paris won a lawsuit against railroad, and was given a settlement check. the check somehow came to be in eddy's possession. eddy
Vikki [24]

Answer:

Yes under the theory of conversion.

Explanation:

Conversion occurs when an individual takes possession of an item and excercises ownership of it in a way that is in conflict with the real owner's right of possession.

In this instance Eddy paid in a cheque that was not owned by him. The onus was on the bank to confirm from the account owner the real beneficiary of the check.

This would have prevented the conversion of the check through an illegal indorsement.

Conversion is a common type of fraud with regards to dividend warrants where dividend warrants edited to present a different person as the owner of the check.

3 0
3 years ago
What are the three main characteristics of most of the 1 billion malnourished people in the world?
Margarita [4]
Little power, little money, are women or children
3 0
3 years ago
One test of evidence is "does the evidence come from unbiased sources?"
GrogVix [38]
That statement is true.
If the statement come from a biased sources, the statement will be catered in a such a way to shine a positive light towards a certain person or establishment.
This makes the final report/writing became extremely unreliable.
Example of biased sources, news station that only tell good story about a specific party.
7 0
3 years ago
The downside of increased reliance on technology in the workplace includes ____.
zysi [14]

high bill

be put in place

viruses

the math involved in what they owe you

themselves

4 0
3 years ago
Read 2 more answers
Other questions:
  • A producer for a cable news show is feeling insecure. she complains to her boss that she isnt very smart and that she only does
    6·1 answer
  • Five ways of which the tourism contributes towards south africa economy
    12·1 answer
  • Carter Industries has two divisions: the West Division and the East Division. Information relating to the divisions for the year
    15·1 answer
  • A delivery company spent $3,500 last week upgrading one of its trucks. This week the company is trying to decide if this upgrade
    6·1 answer
  • Jerry deposited $10,000 in a bank account, and 10 years later he closes out the account, which is worth $18,000. The annual rate
    6·1 answer
  • During the current year, Ecru Corporation is liquidated and distributes its only asset, land, to Kena, the sole shareholder. On
    8·1 answer
  • The only skill required of managerial accountants is that they have a solid knowledge of both financial and managerial accountin
    8·1 answer
  • Linger Products uses a two-stage allocation method to assign costs to its products. The following information has been provided
    8·1 answer
  • Beginning inventory for the month contained 3,000 units that were 35% complete with respect to materials. 57,000 units were comp
    15·1 answer
  • Below are the transactions for Salukis Car Cleaning for June, the first month of operations.
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!