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weqwewe [10]
3 years ago
8

"Other things equal, when the price of a good rises, the quantity demanded of the good falls, and when the price falls, the quan

tity demanded rises." This relationship between price and quantity demanded a. applies to most goods in the economy. b. is represented by a downward-sloping demand curve. c. is referred to as the law of demand. d. All of the above are correct
Business
1 answer:
Daniel [21]3 years ago
6 0

Answer:

d. All of the above are correct

Explanation:

Demand refers to the quantities of a product that buyers are willing to purchase at a given price over time. The relationship between demand and price is explained in the law of demand. The law asserts that everything else remaining constant, the demand for a product is indirectly related to its price.

The demand curve illustrates the relationship between price and demand for a service or product. The curve is downward sloping showing how the quantity demanded changes with changes in price. Most goods will behave as per the demand curve. However, inferior goods tend to behave differently. An increase in income reduces the demand for an inferior product.

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At the beginning of the period, the Cutting Department budgeted direct labor of $52,350 and supervisor salaries of $42,150 for 3
xxTIMURxx [149]

Answer:

$77,000

Explanation:

Direct Labor = $52,350 (Its varies with the number of Production hours). Hence, $52,350   for 3,490 hours

For 3,800 hours, (52,350/3,490) * 3,800 = $57,000

Supervisor Salaries = $20,000 (Since the Supervisor Salary is not an incremental cost, it is a fixed one). So, the Supervisor Salaries remain $20,000

Net budget (flexible) = $57,000 + $20,000

Net budget (flexible) = $77,000

4 0
3 years ago
The budget for the City of Goodville for the year ending December 31 was adopted and recorded on January 2 of the same year. Aft
scoray [572]

Answer:

See below

Explanation:

A budgetary fund is an income account and thus a debit balance suggests a deficit on the fund account. This means that governing bodies of City of Goodville have spent more money in their expenditures than they have brought in as income from the fund. This will be recorded as a liability in the balance sheet. Where as a credit balance would be a surplus and recorded as  an asset.

3 0
3 years ago
Assuming purchase costs are rising, determine which of the statements below are correct regarding the cost of goods sold under F
anzhelika [568]

Answer:

A

B

C

D

Explanation:

LIFO means last in first out. It means that it is the last purchased inventory that is the first to be sold.

FIFO means first in, first out. It means that it is the first purchased inventory that is the first to be sold

Weighted average cost method calculates the cost of goods sold as the weighted average of cost of inventory

In periods of rising prices, later purchased goods would have a higher price. As a result, LIFO would report a lower net income while companies using FIFO would report the highest gross profit and net income.

Because of the high net income reported under FIFO, tax paid would be the highest too

6 0
3 years ago
Will give BRAINLIEST! Please read the question THEN answer correctly! No guessing.
JulijaS [17]

Answer:

D

Explanation:

Since Sula is making her decision based on what would be environmentally friendly, she is being socially responsible, but not necessarily analyzing the other variables. Therefore, the answer is D. Hope this helps!

3 0
3 years ago
Startups that find themselves trying to compete for value with large, established firms that have strong negotiating power often
Leokris [45]

Answer:

That statement is true.

Explanation:

Start ups tends to have overwhelmingly lesser capital compared to large/established firms. This means that The Large firms will be able to outperform the start ups in terms of marketing , advertising, and production efficiency.

This will make the start ups' product became less known and more expensive in the market.

Because of this, they tend to focus on the acquisition of intellectual property.

When a start up acquire  the right of intellectual property, larger companies could not legally create a similar product and compete with the start up directly.

This will make the start up able to sell their products without having to worry about being outperformed by the larger companies.

6 0
3 years ago
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