Answer:
C) Price must be below the equilibrium price
Explanation:
In a perfect competition, price is determined by the industry and no individual consumer or producer can manipulate the price. When something is in equilibrium, it refers to a balanced state with no will to change. In a perfectly competitive market, equilibrium is a point where supply is equal to demand. Market supply is the sum of individual supplies by all producers of the same commodity in the market. Market demand I'd the sum of individual demand by all consumers of a commodity in a market.
The price at which a market becomes equilibrium is the equilibrium price and the quantity supplied or demanded at the equilibrium price is the equilibrium quantity. When a price is above the equilibrium price, suppliers tend to increase the supply for profits. This could cause a condition of excess supply. In order to sell out the excesses, the price will have to go below the equilibrium price.
When a price is below the equilibrium price, consumers tend to buy at a reduced price. This causes excess demand. Here, consumers are willing to pay higher to meet the exorbitant demand and thus, the price rises to the equilibrium level.
Answer:
$6,000
Explanation:
The computation of the interest expense is shown below:
= Total amount borrowed × interest rate × number of months ÷ total months in a year
= $300,000 × 8% × 3 months ÷ 12 months
= $6,000
The three months is calculated from October 1 to December 31
We have to apply the simple interest formula so that the accurate amount can come.
Answer:
$17,400
Explanation:
<em>Equation to be used is as follows: </em>Beginning Prepaid Insurance Expense balance + Cash paid for insurance premium - Ending prepaid insurance balance = Insurance expense
$3,000 + Cash paid - $2,200 = $18,200
$800 + Cash paid = $18,200
Cash paid = $18,200 - $800
Cash paid = $17,400
So, the cash paid for insurance premiums during 2014 was $17,400
Answer:
The below is the influence of each factor on client inquiries, according to the customer support team:
1. The transportation demand is excessive.
2. The number of faulty items has increased.
3. There are far too many goods that aren't delivered on time.
4. There aren't enough items for sale.
For one thing, because it's a seasonal product shipping, the number of shipments is fairly large. The quantity of items sent also shows this.
For 2: Due to the huge amount of shipments, the most common customer concern is receiving wrong items.
Based on my budget the transportation that is best for me at the moment would have to be public transportation (bus/train) because it is cheaper for me right now rather than having to spend extra money in Ubers.