Answer:
Equilibrium price and Quantity are the price at which Demand and Supply equal each
1. Local
If quantity demanded = 30 - p
And quantity supplied = p
And we know equilibrium is achieved when both are equal.
Therefore 30 - p = p is equilibrium
2p = 30
P = 15
Equilibrium Quantity demanded & supplied = 30 - 15 = 15.
2. Foreign
If quantity demanded = 20 - p
And quantity supplied = p
And we know equilibrium is achieved when both are equal.
Therefore 20 - p = p is equilibrium
2p = 20
P = 10
Equilibrium Quantity demanded & supplied = 20 - 10 = 10
3. The importer of cars is the demand for foreign = 20 - P
4. The exporter of cars is the supply of foreign cars = P.
Answer:
D. $1,050,200
Explanation:
The January cash collections from sales are
Total Budgeted sales for January are $939,000
Cash sales = $939,000 x 0.20 = $187,800
Cash from customers for January sales = $939,000 x 0.80 x 0.75 = $563,400
Cash from december sales = $299,000
Total January cash collections from sales are = $187,800 + $563,400 + $299,000 = $1,050,200
Is this is the question the way it was asked? I’m a little confused
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