1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Fynjy0 [20]
3 years ago
13

Which of the following demonstrates the law of supply?a) When leather became more expensive, belt producers decreased their supp

ly of belts. b) When car production technology improved, car producers increased their supply of cars. c) When sweater producers expected sweater prices to rise in the near future, they decreased their current supply of sweaters. d) When ketchup prices rose, ketchup sellers increased their quantity supplied of ketchup.
Business
1 answer:
snow_tiger [21]3 years ago
3 0

Answer:

D

Explanation:

The law of supply states that when the price of an object rises, so does the quantity supplied. If the ketchups prices rise, so will the quantity that is supplied making this an example of the law of supply.

You might be interested in
In an attempt to reduce poaching of elephant tusks for ivory, officials in Kenya burned illegally gathered ivory. Economists ten
Brut [27]

Answer:

b. the supply of ivory has fallen, leading to an increase in price and reward for poaching.

Explanation:

In Economics, there are primarily two (2) factors which affect the availability and the price at which goods and services are sold or provided, these are demand and supply.

The law of demand states that, the higher the demand for goods and services, the higher the price it would be sold all things being equal. On the other hand, law of supply states that the higher the price of goods and services, the lower the supply.

Poaching can be defined as an illegal or illegitimate procurement (purchase) of protected wildlife living organisms such as elephants, fish, trees, gaming, etc.

In an attempt to reduce poaching of elephant tusks for ivory, officials in Kenya burned illegally gathered ivory. Economists tend to point out that the supply of ivory has fallen, leading to an increase in price and reward for poaching in accordance with the law of supply.

This ultimately implies that, an increase in the price level of a product usually results in a decrease in the quality of real output demanded along the aggregate demand curve.

6 0
3 years ago
Marin Corporation had net sales of $2,427,500 and interest revenue of $40,000 during 2017. Expenses for 2017 were cost of goods
katovenus [111]

Answer:

The answer follows below;

Explanation:

Marin Corporation

Income Statement

For the year 31, xxxx 2017

Sales                              $2,427,500

Cost of Goods Sold     ($1,465,500)

Gross Profit                                                $962,000

Operating Expenses

Admin. Expenses          ($220,600)

Selling Expenses          ($289,300)

Interest Expense            ($47,900)

Total Operating Expenses                        ($557,800)

Operating Income                                        $404,200              

Non Operating Income

Interest Income                                             $40,000          

Total Income before Taxation                    $444,200

Taxes (444,200*30%)                                   ($133,260)      

Net Income after Taxation                            $310,940          

6 0
3 years ago
Read 2 more answers
Which part of the business plan is an analysis of your competition and the strategies you will use to earn and maintain a compet
gizmo_the_mogwai [7]

A competitive analysis.

A competitive analysis examines the strengths and weaknesses of your competition in relation you your business.

5 0
3 years ago
: Jane and Sarah are both investors. Jane has invested thousands of dollars into one small company. Sarah has invested hundreds
Alja [10]

Answer:

Sarah has invested in sole proprietorship while Jane has invested in corporations

Explanation:

Sole proprietorship is owned and run by a single owner who is legally obligated for all business assets and liabilities. Since Sarah has invested thousands of dollars in one company, it looks like she has invested in sole proprietorship in which she is the owner.

Corporation is run by group of people who are not legally obligated for the assets and liabilities of the corporation. People can invest in more than one corporation as they are open for public offer. These investors earn dividends based on the earnings earned by the corporations So, possibly Jane has invested hundreds of dollars in different large companies.

7 0
3 years ago
Product X-547 is one of the joint products in a joint manufacturing process. Management is considering whether to sell X-547 at
Katena32 [7]

Answer:

b. 1,2,3,4

Explanation:

Lets first understand what relevant cost is? Relevant cost is any cost that influences the decision of a decision maker. Therefore, the first four items are relevant in the decision of whether to sell the X-547 or to further process it.

Explanation for each item is as follows:

1- Selling price of X-547:

The selling price is relevant because it will help to determine the revenue generated from selling X-547 at the split off point and which could also be used for comparative purposes, if suppose the decision of further processing is chosen.

2- Variable cost of processing X-547 into Xylene:

The variable cost of processing X-547 is indeed relevant too, because at this stage management is not in a position to take a decision until they explore the possibilities coming out of processing X-547, therefore, in order to come to a decision making position the management will need to know the variable cost of processing X-547, making it relevant in the decision.

3- The avoidable fixed costs of processing X-547 into Xylene:

There is sometimes a fear (i.e fear of increase in step-fixed costs as a result of processing a product or fear of loss of control over costs) felt by the management when trying to process certain products for further development therefore those fixed costs which can be avoided during processing X-547 can also influence (i.e encourage) the decision of further processing X-547, making it relevant.

4- The selling price of Xylene:

The last but not the least, the selling price of Xylene. If the management finds that if X-547 is further processed into Xylene and it sells at a highly favorable/lucrative price, creating a huge margin for them then definitely they would be encouraged to taking the decision of further processing it.

5 0
3 years ago
Other questions:
  • Parker Company uses the perpetual inventory system. It bought merchandise on account from Beige Inc, invoice no. 342, $20,000; t
    8·1 answer
  • Finish the sentence, gym is to healthy as book is to ?
    14·1 answer
  • Which of the following statements regarding inventory costing methods is correct? Multiple Choice In periods of inflation, LIFO
    10·1 answer
  • The largest asset class on u.s. commercial banks' balance sheet as of september 30, 2012 was
    15·1 answer
  • If a consumer sees an ad about a man or a woman who can no longer fit into his or her old bathing suit, the consumer might think
    14·1 answer
  • The petty cash fund had an initial imprest balance of $ 220. It currently has $ 18 in​ cash, $ 3 in miscellaneous petty cash​ ti
    8·1 answer
  • A $5 tax levied on the buyers of pants will cause the_______
    5·1 answer
  • An analyst gathered the following information about a company: 01/01/04 - 50,000 shares issued and outstanding at the beginning
    12·1 answer
  • An unconfined aquifer with a head of 120 ft (from the bottom of the aquifer) was evaluated using a pumping test. After the head
    12·1 answer
  • According to_____if the money supply grows at 6%, real GDP grows at 2%, and the velocity of money is constant, then the inflatio
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!