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katen-ka-za [31]
3 years ago
8

The equilibrium point is at the confluence of the supply and demand curves. What does "confluence" mean?

Business
1 answer:
sertanlavr [38]3 years ago
5 0

Answer:

intersection point

Explanation:

Confluence means a meeting point or coming together. It is the point at which two or more variables join together. In the law of demand and supply, the equilibrium point is the level where demand meets supply. It is the intersection point of the demand and supply curves.

Confluence point of demand and supply curves will mean the quantity demanded and the quantity supplied will be equal. The confluence point will give a price and quantity acceptable by both buyers and suppliers. As the confluence of demand and supply curves, buyers are willing and able to purchase all the quantities firms are selling at that price level.

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Susan is working with the management team in her company to classify data in an attempt to apply extra security controls that wi
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On December 28, Kerr Manufacturing Co. purchased goods costing $50,000. The terms were F.0.B. destination. Some of the costs inc
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Answer: $50,000


Explanation: This is why I believe the answer is $50,000
- When the shipping terms are FOB
destination, the seller has the responsibility of all costs of
transporting the goods to the buyer.
Therefore, the seller is responsible for the
payment of packaging costs ($1,000),
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amount to be included as the buyer's cost
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