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3 years ago

Suppose iron ore is an input in producing steel. how will a decrease in the price of iron ore affect the market for steel

1 answer:

3 0

Direct relation. If iron is used to make steel, and iron is cheaper now, steel will also be cheaper. Decrease in price can mean they have a bunch of it, a surplus.
Supply and demand says if you got a lot of something prices go down. So if you have a lot of cheap iron, you can make a lot of cheap steel

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Answer:

The answer would be

Explanation:

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3 years ago

According to the market theory of wage determination, under what circumstances will wages for a particular group be highest?

Dmitry_Shevchenko [17]

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When there is now demand for this type of labor

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3 years ago

Read 2 more answers

Pina Company produces golf discs which it normally sells to retailers for $7 each. The cost of manufacturing 19,900 golf discs i

Ivahew [28]

Answer:

a) Net income using incremental analysis is  $692

b) PINA should accept the order because it will increase its net income by $692

Explanation:

The relevant cash flows for decision to accept or reject the special order are

I. the incremental contribution from of producing 5,350 units

2. The incremental fixed cost- 45,374

Note that whether or not the special order is accepted the fixed cost of manufacturing would be incurred either way.

Contribution per unit =Selling price - Variable cost

Variable production cost per unit = total variable cost / units

= (10,945 + 29651 + 21094)/19,900

=$3.1

Variable cost per unit of sale = $3.1 + $0.35 = $3.45

a) Incremental Analysis

Change in Net Income: $

Incremental contribution :

( 4.77 - 3.45) × 5,350 = 7,062

Increase in Fixed cost :

(45,374 - 39,004) ( 6370)

Net income 692

b)  PINA should accept the order because it will increase its net income by $692

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3 years ago

Which of the following types of promotion includes a two-way conversation?

Nikitich [7]

Answer:

C. Personal selling

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Personal selling requires a sale representative to have good interpersonal skills. The salesperson will point out at the salient features and benefits in a bid to convince the customer that the product will add value to them. The customers seek as much information as they desire and gets the opportunity to negotiate for better prices.

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3 years ago

Your friend Burrell says that the government should hire fewer social workers in order to reduce the cost of federal assistance

BARSIC [14]

Answer: b) peoples' responses to financial incentives.

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Burrell would be wrong because the most leakage in federal assistance programs comes from the way people respond to financial incentives.

Some people who have received this assistance from the Federal government have decided that it would be better to keep receiving this assistance instead of working to actually get paid.

This has led to more people seeking assistance thereby increasing the number of people needing assistance and invariably increasing the cost of these federal assistance programs.

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3 years ago

Suppose iron ore is an input in producing steel. how will a decrease in the price of iron ore affect the market for​ steel

Suppose iron ore is an input in producing steel. how will a decrease in the price of iron ore affect the market for steel