3 years ago

According to the law of demand, what is the relationship between price and quantity demanded?

1 answer:

3 0

Answer:

According to the law of demand, there is a negative or an inverse relationship between the price of the good and the quantity demanded of that good. This means that an increase in the price of a commodity will lead to decrease the quantity demanded for this commodity and a fall in the price of a commodity will lead to an increase in the quantity demanded for this commodity.

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Use the following information for questions 6 and 7. Wonderland Company imports and sells a product produced in Canada. In the s

GarryVolchara [31]

Answer:

$1,564,800

Explanation:

Year Purchased Quantity (Units) Cost per unit Total Cost

2017 4,000 $160 $640,000

2018 10,000 $220 $2,220,000

2019 16,000 $320 $5,120,000

(A) Sales Revenue

2019 18,400 $392 $7,212,800

(B) Less: Cost of Goods Sold (LIFO)

2019 (16,000 x $320) ($5,120,000)

2018 {(18,400 - 16,000) x $220} ($528,000)

(A - B)Gross Profit $1,564,800

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Adverse selection occurs in the market for used cars because

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To further sell the car and make it seem more desirable, aswell as to be adding benefits constantly

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3 years ago

Upon your graduation from college, you find that the economy is in recession and the unemployment rate is relatively high. Nonet

monitta

Answer:

high unemployment rates do not usually last for very long

Explanation:

Based on the information provided within the question it can be said that the main reason to continue doing this is because you know that high unemployment rates do not usually last for very long. On average in the United States of America there is a recession every 8 years and the the unemployment rates and economy always end up recovering after a certain amount of time has passed.

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3 years ago

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Miss Hap, the company bookkeeper, recorded the annual repair costs on the company's machinery as an increase to the Machinery ac

ololo11 [35]

Answer:

Explanation:

Repairs shouldn’t be recorded to the equipment (asset) account but should be recorded as an expense instead.

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3 years ago

Suppose the market for smoothies is supplied by 11 competitors. Their respective market shares are 40%, 20%, 10%, 5%, 5%, 5%, 4%

S_A_V [24]

Answer:

0.75

Explanation:

Four firm concentration: Share of four firms / Total market share

Four firm share: 40 + 20+10+5

= 75

CR = 75/100

= 0.75 or 75 %

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3 years ago