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forsale [732]
3 years ago
9

The _______ price is the point at which supply and demand for a good are equal.

Business
2 answers:
pav-90 [236]3 years ago
4 0
B.) The PERFECT price, is that point
nasty-shy [4]3 years ago
4 0
NOT perfect price. I got that one wrong.
You might be interested in
Many economists argue that, in the long run, the economy self-corrects and achieves full employment. What is this argument calle
Serggg [28]

Answer:

Classic Model

Explanation:

Classical economists brought the view of market economy for the most effective solution of economic problems. They advocated that economic problems would be solved spontaneously and within the framework of the possibilities, if the rules of the market economy were followed, and they defined the state as a unit that operates in a limited area and does not interfere with the economy.

Classical economists argued that the economy would automatically stabilize at full employment level under conditions of full competition.

The basis of the classical model is the assumption that the economic units are rational. Consumers try to maximize their benefits, while manufacturers try to maximize their profits. Classical economists argue that the state should not interfere with the economy. Because, according to the classics, the economy will always be fully employed and the general level of prices will always make a certain level of decision. The state does not need to get involved in the economy in order to reach full employment and to get rid of excessive price movements such as inflation and deflation. The "invisible hand" in the economy provides spontaneous full employment and price stability.

The basic assumptions of classical economic theory are as follows;

- Full competition conditions apply in the economy.

- Fees, interest rates and commodity prices are flexible.

- Each supply creates its own demand. (Say's Law)

- In the economy, money is demanded only for trading purposes, money is neutral. Money supply only affects the absolute price level, not relative (relative) prices and the real economy.

The classic model was popular before the Great Depression. It was said the economy was developing freely and that prices and wages were adjusted according to the time-consuming ups and downs. In other words, when times are good, wages and prices are rising rapidly, and when times are bad, wages and prices are set free.  The main assumption of this model is that the economy is always in full employment, that is, everyone who wants to work is fully trained and able to work from all sources.  Classical economists believe that the economy is self-adjusting, meaning that no one needs help in the event of recession. This is a Classic Model.

3 0
3 years ago
A company estimates that warranty expense will be 2% of sales. The company's sales for the current period are $176,000. The curr
erastovalidia [21]

Answer:

The answer is

Dr Warranty Expense $3,520

Cr Estimated Warranty Liability $3,520

Explanation:

Warranty expense is a contingent liability and it is defined as liabilities that may be incurred by a firm or business depending on the outcome of an uncertain future circumstance.

Current sales = $176,000

Warranty expense = $3,520(2% of $176,000).

The rule: Debit increases assets and expenses while credit reduces it.

Credit increases equity(stock), sales(revenue) and liabilities while debit reduces it.

Therefore the period entry is

Dr Warranty Expense $3,520

Cr Estimated Warranty Liability $3,520

8 0
2 years ago
Competitive price taker firms always earn zero economic profit in long run equilibrium because:_______
Westkost [7]

Competitive price taker firms always earn zero economic profit in long-run equilibrium because of the following reasons which include easy entry & exit, small player etc.

Perfect competition exists when there are many sellers, firms can easily enter and exit, products are identical from one seller to the next, and sellers are price takers.

A perfectly competitive firm must accept the equilibrium price at which it sells goods because it is a price taker.

A perfectly competitive firm will be unable to make any sales if it charges even a small amount more than the market price.

Furthermore, a perfectly competitive firm must be a very small player in the overall market, allowing it to increase or decrease output without affecting the overall quantity supplied and price in the market.

Hence, Competitive price taker firms always earn zero economic profit in long-run equilibrium.

Learn more about Long-run equilibrium:

brainly.com/question/6275304

#SPJ4

3 0
1 year ago
On January 5, 2020, Sheffield Corporation received a charter granting the right to issue 5,100 shares of $100 par value, 7% cumu
andrew11 [14]

Answer:

 Sheffield Corporation

Journal Entries

Date             Description                              DR                           CR

Jan 11         Cash                                       292,500

                 Common stock                                                     195,000

                 Paid in Capital for common stock                         97,500

               

              <em>Being the amount received on issue of </em>

<em>              </em>

Feb 11     Equipment                                   53,300

              Factory Building                          152,000

              Land                                             295,000

             Prefereed stock                                                     410,000

             Paid -in -capital for Preferred stock                        90,300

July 29   Treasury stock                              25,600

              Cash                                                                            25,600

            Being the payment of own share purchased

Aug 10    Cash                                                   22,400

                Retained Earnings                               3,200

               Treasury stock                                                      25,600

 

Dec 31       Retained  earnings                              10,025

                 Dividend(0.35*19500)                                            6,825  

                 Treasury stock                                                         3,200  

Dec 31       Net Income ( Income Summary)      158,400

                  Retained Earnings                                               158,400

Balance sheet as at Dec 31

Equity

Common stock at $10 par value                                      $195,000

7% Preferred Stock                                                            410,000

Paid in capital for common stock                                        97,500

Paid in capital for Preferred stock                                        90,300

Retained Earnings ( 158,400-6825-3200)                         <u> 148,375</u>

                                                                                             <u>  941,175</u>

Explanation:

4 0
3 years ago
Question 20 poin
DIA [1.3K]

Answer:

true

Explanation:

yes it would decrease

8 0
3 years ago
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