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4 years ago

What principle does this demand curve demonstrate?

Business

1 answer:

lisov135 [29]4 years ago

5 0

Answer:

quantity demanded increases as prices decrease

Explanation:

Demand is the volume of a product that consumers are willing to buy at the market place at a given price over a given time. The demand curve is a graphical representation of the relationship between the demand and the product's price. It shows how quantity demanded increases as prices decrease. The demand curves illustrate the law of demand.

The demanded curve slope downwards with the prices plotted on the Y-axis while the quantity demanded is on the X-axis. Movement along the slope illustrates how quantities change at different prices.

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A firm with market power has an individual consumer demand of q = 20 − 4p and costs of c = 4q. what is the optimal price to char

hammer [34]

$4, is the optimal price to charge for a block of 4 units.

Market power is the ability of a firm to influence supply, demand, or both in order to change the price of a product in the marketplace.

A corporation with significant market power has the power to control its profit margin by manipulating the market price. It may also be able to raise barriers for potential new entries into the market.

Because they may set or change the retail price of an item without giving up market share, companies with market power are frequently referred to as "price makers."

To learn more about Market power here

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7 0

1 year ago

The Fabricating Department started the current month with a beginning Work in Process inventory of $10,000. During the month, it

Natalka [10]

Answer:

$13,000

Explanation:

Calculation for what The ending balance of the Work in Process Inventory account for the Fabricating Department is:

Beginning Balance 10,000

Add Direct Materials 76,000

Add Direct Labor 24,000

Add Factory Overheads 12,000

(50% *24,000)

Less Work Transferred (109,000)

Ending Balance $13,000

Therefore The ending balance of the Work in Process Inventory account for the Fabricating Department is:$13,000

6 0

3 years ago

B. Lopez Company reports unadjusted first-year merchandise sales of 221,000 and cost of merchandise sales of $64,000. The compan

Annette [7]

Answer: See explanation

Explanation:

The year-end adjusting entry to record the cost side of sales returns and allowances will be:

Dr Inventory Return estimated $3200

Cr Cost of goods sold $3200

(To record expected coat of returns)

Note that the above calculation was done as:

= $64,000 × 5%

= $64,000 × 0.05

= $3200

3 0

3 years ago

Entrepreneurs who have the ability to effectively confront demands or stressors, and thus improve entrepreneurial performance, t

Aleksandr [31]

Any entrepreneurs that have the ability to effectively confront demands or stressors, and thus improve entrepreneurial performance, tend to have an <u>entrepreneurial self-efficacy</u>.

<h3>Who is an entrepreneurs?</h3>

This refers to the individual that starts and runs a business with limited resources, planning and responsible for all the risks and rewards of their business venture. Their business idea usually entails a new product or service rather than an existing business model.

When an entrepreneur have a self-efficacy, it means he/she belief in his or her capacity to execute behaviors necessary to produce specific performance attainments.