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
stira [4]
2 years ago
13

Suppose that the price of wheat is above its equilibrium price. You would expect to see __________- A) an increase in quantity d

emanded because of the high price. B) a leftward shift of the demand curve because of the high price. C) sellers begin to lower their prices because of the surplus of wheat.D) a shortage on the market that causes prices to increase further
Business
1 answer:
disa [49]2 years ago
8 0

Answer:

The correct answer is letter "B": a leftward shift of the demand curve because of the high price.

Explanation:

The equilibrium price represents the point at which buyers' demand and sellers supply face each other because both parties' needs are satisfied. If the price of a given product is higher than the equilibrium level, the quantity demanded is likely to decrease which directly implies a leftward move in the demand curve.

You might be interested in
Soda and pizza are complements because they are often enjoyed together. When the price of soda rises, what happens to the supply
almond37 [142]

Explanation:

In the case of the complements goods, if the price of the soda rises, the demand would be decreased and the supply would rises. Since the soda and pizza are complementary goods so the impact of one good would be the same for another good also

Moreover, we also know that the price and the demand has an inverse relationship but the price and the supply has a direct relationship

6 0
3 years ago
"when the number of units produced exceeds the number of units sold, net income under absorption costing will be:"
r-ruslan [8.4K]

Answer:

The answer is that the net income under absorption costing would be higher than the net income under variable costing.

Explanation:

Absorption costing and variable costing are terms used in accounting contexts. Absorption costing, also known as full costing, incurs overhead costs when the product is sold; not before it. Variable costing, also referred to as direct costing, would include overhead costs during the period the costs occurred. In this condition, net income would be higher using absorption since overhead costs would not be included until the product is sold.

5 0
3 years ago
Consider luxury weekend hotel packages in Las Vegas. When the price is $250, the quantity demanded is 2,000packages per week. Wh
konstantin123 [22]

Answer:

The elasticity is about 1.43, and an increase in the price will cause hotels' total revenue to decrease

Explanation:

The formula of the midpoint for the variation of the quantity is  \frac{Q2-Q1}{(Q2+Q1)/2} *100 and for the price is \frac{P2-P1}{(P2+P1)/2} *100. With the variation of the price and the quantity the elasticity formula is ΔQ/ΔP. Replacing the elasticity is -1.43

The price elasticity of the demand is bigger than 1, that means that the demand is elastic, every increase of the price will cause a bigger decrease of the quantity, the revenue will drop because the increase of the price do not compansete the decrease of the quantity.

6 0
3 years ago
What is the term baltes & baltes use to designate the ways workers narrow their job tasks to only the most important ones an
navik [9.2K]

The term is "selection".

Paul B. Baltes was a German therapist whose expansive scientific plan was dedicated to building up and advancing the life-span orientation of human advancement. He was likewise a scholar in the field of the psychology of aging. Baltes was born in 1939 and died in 2006 at the age of sixty-seven.

8 0
3 years ago
Any effort by the Federal Trade Commission (FTC) to evaluate expected deceptive marketing practices would be seriously flawed be
Llana [10]

Answer:

True

Explanation:

This is true because the Federal Trade commission(FTC) analyze and investigate a seller or sellers who may be so cooperative as to make agreements that ensure large amounts of profit for them which is likely harmful and exploitative to consumers . FTC investigates business mergers which may be horizontal or vertical that are likely done for the purpose of increasing market share and fostering a sort of monopoly of the market. However, mergers and cooperation among businesses in the market do not always yield a monopoly and the FTC may be wrong(sometimes) to wave mergers that could increase the quality of goods or services in a market

7 0
2 years ago
Other questions:
  • Simon Company's year-end balance sheets follow. At December 31 Current Yr 1 Yr Ago 2 Yrs Ago Assets Cash $ 33,817 $ 40,739 $ 42,
    8·1 answer
  • what would happen if you could become invisible whenever you wanted to? what are some things you would do?
    14·1 answer
  • Gross domestic product (gdp) is the total market value of all intermediate and final goods and services produced by an economy i
    11·1 answer
  • Suppose that some investors have decided that economic and financial uncertainty have made the prospect of investing in domestic
    13·1 answer
  • In specialized fields, technical knowledge is more important to employers than communication skills when deciding whom to hire a
    6·1 answer
  • The number of support staff needed to handle the volume of incidents in a help desk operation is a similar problem to the number
    14·1 answer
  • Catherine is married and a mother of two children. She has decided to forego her own career to stay home with her children until
    8·1 answer
  • What are current assets? a. assets taht will be used for many years assets b. that must be paid for within 12 months any assets
    5·1 answer
  • Black Lilies is a fledgling apparel company which is run and managed by its creator Patricia. She has advertised for an accounti
    6·1 answer
  • Assume that Chris and Heather get married in 2019 and file a joint return. What is their taxable income and income tax
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!