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Igoryamba
4 years ago
12

Suppose a producer charges $20 for a new toy. At this price, the producer supplies more toys than people demand, so there is a(n

) _____. The producer decides to lower the price to $15. At this new price, quantity supplied equals quantity demanded. So, $15 is the _____.
Business
2 answers:
Olin [163]4 years ago
7 0

A. excess supply, equilibrium price :)

Mkey [24]4 years ago
3 0
Suppose a producer charges $20 for a new toy. At this price, the producer supplies more toys than people demand, so there is an excess supply. The producer decides to lower the price to $15. At this new price, quantity supplied equals quantity demanded. So $15 is the equilibrium price.
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Lopez Corporation incurred the following costs while manufacturing its product.Materials used in product $129,600 Advertising ex
Mila [183]

Answer:

$367,800; $391,600

Explanation:

Manufacturing overhead:

= Depreciation on plant + Factory supplies used + Property tax on plant

= 70,200 + 29,200 + 21,000

= 120,400

Total manufacturing cost:

= Material used in production + Labor cost + Manufacturing overhead

= $129,600 + 120,400 + 120,400

= 370,400

Cost of good manufactured:

= Beginning work in process + Total manufacturing cost - Ending work in process

= 14,400 + 370,400 - 17,000

= $367,800

Cost of goods sold:

= cost of goods manufactured + Beginning finished goods inventory - Ending finished goods inventory

= $367,800 + 70,200 + 46,400

= $391,600

5 0
3 years ago
Money managers:
yawa3891 [41]
The answer is D) are on the "but side" of Wall Street.
Just read the text. I'm 100% sure. Text below.

7 0
3 years ago
Read 2 more answers
Why might you complete a 1040 instead of a 1040EZ
MAXImum [283]
A) you own a home

Hope this helped!
3 0
4 years ago
Read 2 more answers
Both friends agree that the demand and supply for hybrid cars will increase. For each of the following situations, determine whe
PSYCHO15rus [73]

Answer:

see below

From online search the situations as a below:

a. The government gives consumers a subsidy to buy hybrid cars.

b. More automobile producers start producing hybrids.

c. The price of non-hybrid cars falls.

d. The price of batteries for hybrid cars rises.

e. Gasoline prices rise.

Explanation:

A) A subsidy would result in consumers paying less than they would ordinarily pay. A government subsidy is equivalent to a reduction in price for consumers. A decline in prices increases demand. The demand curve increase.

b). should more producers start manufacturing hybrid vehicles, it will increase the number of vehicles available for customers to buy. More producers result in more output, which is an increase in supply. The supply curve increases.

c). Non-hybrid cars are substitutes goods for hybrid vehicles. If the price of non-hybrid cars falls, their demand will increases. Consequently, the demand for hybrid cars reduces. Both The demand curve and supply curve will not increase.

d). An increase in battery price will increase the overall cost of producing hybrid cars. An increase in production cost results in a price rise. Consequently, it reduces the demand for hybrid cars.

Both the demand and curve curves will not increase.

e). Hybrid cars consume less gasoline compared to non-hybrid cars. An increase in gasoline price will make non-hybrid cars less desirable but will increase the demand for hybrid cars. The demand curve for hybrid cars increases.

6 0
3 years ago
The income statement disclosed the following items for the current year: Depreciation expense $36,000 Gain on disposal of equipm
JulijaS [17]

Answer:

$328,700

Explanation:

The preparation of the Cash Flows from Operating Activities - Indirect Method is shown below:

Cash flow from Operating activities - Indirect method

Net income $317,500

Adjustment made:

Add : Depreciation expense $36,000

Less: Gain on disposal of equipment -$21,000

Less: Increase in accounts receivable -$5,600

Add: Decrease in inventory $3,200

Add: Decrease in prepaid insurance $1,200

Less: Decrease in account payable -$3,800

Add: Increase in income taxes payable $1,200

Net Cash flow from Operating activities                   $328,700

6 0
3 years ago
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