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Bumek [7]
3 years ago
11

If the cost of producing orange juice​ increases, the equilibrium price of orange juice will​ ________ and the equilibrium q

uantity of orange juice will​ ________.A. decrease; increase B. increase; decrease C. decrease; decrease D. increase; increase

Business
1 answer:
Temka [501]3 years ago
7 0

Answer:

B. increase; decrease

Explanation:

At equilibrium, the quantity demanded of orange juice equals the quantity supplied.

If the cost of producing orange juice increases, the quantity supplied would drop. This would lead to a rise in price and a fall in quantity demanded.

I hope my answer helps you

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. Which one of the following is an example of an economic good? (a) visit to a dentist (b) pair of sneakers (c) lesson taught by
Anvisha [2.4K]

Answer:

b

Explanation:

b :because an enconomic good is something you pay for

7 0
3 years ago
Suppose an apartment complex converts to a condominium, so that the former renters are now owners of their housing units. Suppos
Lorico [155]

Answer:

GDP is likely to remain same as a result of this conversion.

Explanation:

GDP is the total value of goods & services, produced by an economy, during a given year.

It can be calculated by 2 methods

  • By Expenditure method : GDP = Private Final Capital Expenditure + Govt. Final Consumption Expenditure + Gross Domestic Capital Formation + Net Exports
  • By Income method : NDP = Compensation of Employees + Operating Surplus (Rent + Profit + Income) + Mixed Income

Given case - Converting a rented apartment into a resident owned condominium , with value of housing services = rent formerly paid :

This brings no change in the GDP, as : The apartment 'rent' previously paid was included in 'operating surplus' of national income, by Income method. And, the equal condominium value is now included in investment addition i.e 'Gross domestic capital formation' , by Income method.

6 0
3 years ago
Allesandra would like to work in a school environment, and she knows that she would prefer a career in which she spends lots of
Margaret [11]
Elementary school teacher that’s the answer
8 0
3 years ago
Sheffield Company signed a long-term noncancelable purchase commitment with a major supplier to purchase raw materials in 2021 a
Sphinxa [80]

The journal entry to record the purchase of the raw materials by Sheffield Company is as follows:

Debit Purchases $1,031,600

Credit Accounts Payable $1,031,600

  • To record the purchase of the raw materials in 2021.

The December adjusting entry can be revised with:

Debit Estimated Liability $53,300

Credit Unrealized holding Loss $53,300

  • To reverse the December 31 adjusting entry.

<h3>What is an unrealized holding loss?</h3>

In this instance, the unrealized holding loss arose from the fact that the market value of the raw materials is less than the purchase amount because of the noncancelable commitment.

Thus, the unrealized holding loss arose as the difference between the market value and the purchase amount.

<h3>Data Analysis:</h3>

Purchases $1,031,600 Accounts Payable $1,031,600

Estimated Liability $53,300 Unrealized holding Loss $53,300

Thus, the entry to record the purchase is a debit to the purchases account and a credit to accounts payable.

Learn more about recording purchases at brainly.com/question/24179237

3 0
2 years ago
Suppose the government imposes a $10 per month tax on cell phone service. If the demand curve for cell phone service is perfectl
dlinn [17]

Answer:

c. $10.

Explanation:

Suppose the government imposes a $10 per month tax on cell phone service. If the demand curve for cell phone service is perfectly inelastic and the supply curve is upward-sloping, the monthly price for <u>cell phone service will increase by $10.</u>

As given, the government imposes a $10 per month tax on cell phone service, which means the price of cell phone services will be costlier and increases, however, the demand curve for cell phone service is perfectly inelastic, which mean price of the product does not have any impact on the demand of the product. Then it is given the supply curve is upward sloping, which reflects the higher price of cell phone service is needed to cover the higher marginal cost of production. Therefore, the monthly price for cell phone service will increase by $10.

6 0
3 years ago
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