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
-BARSIC- [3]
3 years ago
5

In free markets the price of a product depends on how much consumers are willing and able to buy and how much the producers are

willing and able to sell. What does the market price depend on in a free market?
Business
1 answer:
nexus9112 [7]3 years ago
8 0

Answer:

MARKET DEMAND = MARKET SUPPLY

Explanation:

Market Demand & Market Supply are the quantities all consumers & all the producers are able , willing to consume & supply respectively ;  during a given period at a given price .

Market Price , quantity is determined where : market demand = market supply & market demand , supply curves intersect each other .

If market demand > market supply : Excess demand creates competition among buyers & increases prices , which reduces demand & raises supply (law of demand & supply) . This happens till Demand = Supply again

If market supply > market demand : Excess supply creates competition among sellers & decreases prices , which raises demand & reduces supply (law of demand & supply) . This happens till Demand = Supply again .

You might be interested in
What amount must he invest today if his investment earns 8% compounded annually? What amount must he invest if his investment ea
VMariaS [17]

Answer:

Compounded annually:

24820 = x * (1.08^3) = 1.259712x

x = 24820/1.259712 = $19703

Compounded quarterly:

24820 = x*(1.02)^12 = 1.26824x

x = 24820/1.26824 = $19570

Explanation:

I hope you can understand better and no need for further explanation.

8 0
3 years ago
Your job includes ordering phone service for new employees. You are considering two phone plans. The first plan charges $23.35 p
BabaBlast [244]

Answer:

$34.68

Explanation:

The total cost by following the first plan will be the charge per months times  12 months

= $23.35 x 12

= $280.2

The total cost from the second plan will be the cost of the first three months at  $14.99 plus the cost of 9 months at $29.99

=($14.99 x 3) + ($29.99 x 9)

=$44. 97 +$269.91

=$314.88

The first plan is the better deal. It will save

= $314.88 - $280.2

=$34.68

5 0
2 years ago
Of the 16 businesses located at the Tri-City Shopping Center, one-quarter are service businesses. How many
andreyandreev [35.5K]

Answer:there are 4

Explanation:if you take the 16 businesses and multiply it by a quarter which is .25 and you will get 4

8 0
2 years ago
I get $200 revenue from the sale of my product each day. I rent the factory that I use for $90 a day. The raw materials of the o
igor_vitrenko [27]

Answer:

Accounting loss of $5

Economic loss of $35

Explanation:

Accounting profit is the net of revenue and Explicit cost. Explicit costs are the cost which actually incurred or paid.

On the other hand the economic profit is the net of revenue, Explicit and Implicit costs. Implicit value is the opportunity costs of choosing the alternative.

Implicit cost = $30

Explicit cost = 90 + 115 = $205

Accounting Profit = Revenue - Explicit costs = $200 - $205 = ($5)

Economic Profit = Revenue - Explicit cost - Implicit cost = $200 - $205 - $30

Economic Profit = ($35)

7 0
3 years ago
Fact Pattern: Management discovers that a supervisor at one of its restaurant locations removes excess cash and resets sales tot
sasho [114]

Answer: <u><em>The accounting for customer food checks by the supervisor. </em></u>

An unfitting classification of responsibilities existed because the supervisor was accountable for accounting for customer food checks and depositing acknowledgment and had the quality to set POS totals .

<u><em>Therefore, the correct option is (a)</em></u>

3 0
2 years ago
Other questions:
  • An opera house is offering three performances and has two types of consumers. The performances are "Carmen," "Madama Butterfly,"
    12·1 answer
  • On June 5, 2019, Mabel Company purchased an oil well for $850,000. The well contains an estimated $85,000 barrels of oil, with a
    7·1 answer
  • What is the economic term for the practice of assigning small parts of a complicated job to individual workers who specialize in
    8·1 answer
  • Patty Leave owned an apartment house for ten years. Depreciation was taken on a straight-line basis. When Patty's adjusted basis
    7·1 answer
  • Student loans, car loans, and housing loans are good examples of
    6·1 answer
  • The news division of WEXS Channel 10 wanted to hire a new morning news anchor. As part of the interview process, candidates were
    11·1 answer
  • It is said that in a perfectly competitive market, raising the price of a firm's product from the prevailing market price of $17
    7·1 answer
  • What is a Benefit of using good human relations
    8·1 answer
  • If a broker receives a due diligence fee from a buyer under the north carolina standard offer to purchase and contract, when can
    15·1 answer
  • The goal of ____ is to establish international technological standards to facilitate the global exchange of information and barr
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!