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:
The correct answer is letter "B": the independent variable.
Explanation:
Multiple regression is a mathematical model used concerning two or more variables when one value is to be used. The independent variable is the reason for the research, and the variables are dependent when they represent the value factors that need to be evaluated and are why the analysis is being carried out.
In the example,<em> the independent variable is the weight of the boxes</em> and <em>the dependent variables are the adjustable stabilizer settings of the rotary valve on the filling machine in three different production shifts</em>.
Answer:
The correct answer is $25,500.
Explanation:
Cheyenne Corp. has 8500 shares of 5%, $100 par value, cumulative preferred stock and outstanding common stock of 17000 shares of $1 par value at December 31, 2017.
There was no dividend in 2015.
In 2016 and 2017, the dividend paid is $76500.
The previous year preference dividend payable is
=previous year preferred dividend payable+current year preferred dividend payable-total dividend paid in 2016
=(8500*100*0.05)+(8500*100*0.05)-76500
=$(42500+42500-76500)
=$8500
The dividend received by the stockholders in 2017 will be
=total dividend paid in 2017-current year preferred dividend-previous year preference dividend payable
=$(76500-42500-8500)
=$25,500
Answer:
<h2>In this case,the correct answer would be option b. or rent the room because the marginal benefit exceeds the marginal cost.</h2>
Explanation:
In Microeconomics or Production Economics,one of the basic rules of profit maximization states that the additional revenue or benefit obtained from the sale of an additional unit of output(Marginal Benefit,MB) is equal to the incremental cost incurred by the firm or company to produce that particular unit of output(Marginal Cost or MC).Now,in this case the MB is greater than the MC for renting one more room,implying that the hotel can continue to rent the rooms until the MB and MC of renting rooms are equal and profit is maximized.If the MB is greater than the MC,it also indicates that the firm can increase its overall profit because the marginal profit(MB-MC) or MP is still positive and the total profit from renting rooms can still increase.Therefore,attracted by higher prospects of profit,the hotel will continue to rent the rooms until the MP is zero or MB is equal to MC and hence,the total profit from renting rooms is maximized.