Answer: Point B
If the demand increases suddenly because of a non-price determinant of demand, equilibrium point will shift to point B. At point B, the demand for mangoes increased from 4000 to 5000 pounds, and the price increased as well, from $5 to $6.
Answer:
optimum
Explanation:
An optimum decision as defined in the question can be defined as the most appropriate decision taken by a manager in the light of what they to be the most desirable consequences for the company.
This simply means that when an event or occurrence takes place in a company, the managers have the responsibility to take the best decisions for the company. The best decision is therefore called the optimum decision; that is the highest level of decision that solves the problem with the smallest of consequences.
Cheers.
Answer:
Products that have neither immediate appeal nor long-run benefits
Explanation:
A product represents a bundle of utilities created by a producer to satisfy a want.
A deficient product as the name suggests, would refer to such products which are deficient in attributes that represent a customer want and the ones which fail to satisfy customer wants.
Those products who do not conform to a particular quality standard or whose performance is below par as per customer expectations would be termed as deficient products.
Sometimes, organizations deliberately create deficient products so as to induce repurchase of subsequent products depicted as improvements over the previous ones.
Such products lack current appeal and are neither expected to accrue to long term benefits.
Answer:
Current Ratio= Current Assets/ Current Liabilities
Explanation:
Current Ratio= Current Assets/ Current Liabilities
The current ratio is an important measure of a company's ability to pay its short term obligations. It is defined as current assets divided by current liabilities.
Current assets are cash and other resources that are expected to be sold or used within one year or the company's operating cycle , whichever is longer. Examples are cash, short term investments , accounts receivable, short term notes receivable, goods for sale ( called merchandise or inventory) and prepaid expenses. Prepaid expenses are usually listed last because they will not be converted to cash ( instead they are used).
Current liabilities are obligations due to be paid or settled within one year of operating cycle, whichever is longer. they are usually settled by paying out current assets such as cash . Current liabilities often include accounts payable , notes payable, wages payable, taxes payable, interest payable and unearned revenues. Also any portion of a long term liability due to be paid within one year or the operating cycle whichever is longer is a current liability.
Answer:
The loan amount was $27,142.86
Explanation:
Data provided in the question:
Total interest paid for the loan amount = $950
Time for which interest is charged = 6 months = 0.5 year
Annual interest rate = 7% = 0.07
Now,
Interest = Principle × Rate × Time
or
$950 = Principle × 0.07 × 0.5
or
Principle = $950 ÷ 0.035
or
Principle = $27,142.86
Hence,
The loan amount was $27,142.86
