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zzz [600]
3 years ago
7

A. Define supply as an economist would. B. List and explain three (3) non-price factors that will shift the supply curve. C. If

the cost of production of fountain pens falls, how will the market for fountain pens be impacted? (hint: start by drawing the appropriate supply and demand curves)
Business
1 answer:
Paladinen [302]3 years ago
5 0

Answer:

A: Refer the detail below

B: Refer the detail below

C: Refer the detail below

Explanation:

A. Definition of Supply

Supply is an economic term that refers to the quantity of a given product or service that suppliers are willing to offer to consumers at a given price level at a given period. Supply is positively related to price given that at higher prices there is an incentive to supply more as higher prices may generate increased revenue and profits

B. Non-price factors that will shift the supply curve

1. Producer input costs

2. producer expectation

3. The number of sellers.

C. Impact of Fountain Pens market

If the cost of production of fountain pens falls, producers can produce more goods by using the same amount of money. Therefore, the supply will increase and the supply curve will shift to the right.

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Before purchasing a car, John sought advice from his friends and researched auto reviews on the Internet. He also visited car de
KiRa [710]

Answer:

Option B External Information Research

Explanation:

John has researched about the car from external resources because asking a friend, researching auto reviews online, visiting car dealers and going for a test drive all constitutes to external sources of infromation. External source of information is dependent on the knowledge of the external sources and thier evaluation criteria.

4 0
4 years ago
For policymakers the problem with a recessionary gap is _____ and the problem with an expansionary gap is _____.
Verizon [17]

Answer:

The correct answer is option B.

Explanation:

A recessionary gap implies that the resources are not being fully utilized. This means resources are being wasted.  

An expansionary gap, on the other hand, means that the economy is producing at more than potential level. The price level at this point is high. There is a tendency for inflation to develop in this situation.  

To curb the recessionary gap the economy can adopt the expansionary fiscal and monetary policy. While to curb expansionary gap, contractionary monetary and fiscal policy can be adopted.

4 0
4 years ago
Han Products manufactures 22,000 units of part S-6 each year for use on its production line. At this level of activity, the cost
balu736 [363]

Answer:

Profit decrease = $6,000

Explanation:

As per the data given in the question,

a)

Calculation for buying and making product :

Particulars                Per unit Differential cost           22,000 units

                                    Make          Buy                             Make         Buy

Cost of buying                            $44.50                                         $979,000

Cost of making :

Direct material           $5.60                                          $123,000

Direct labor              $6.00                                           $132,000

Variable manufacturing

overhead                  $3.6                                              $79,200

Fixed manufacturing

overhead                  $4                                               $88,000

                          ($12 × 1 ÷ 4)

Opportunity cost                                                          $551,600

Total cost                $19.2    $44.50                             $973,800  $979,000

b) As we can see that the Profit is decrease by $6,000 in case of outside supplier offer accepted  by taking the difference between the making and buying cost i.e

=  $979,000-$973,800

= $6,000

5 0
3 years ago
list five factors that might demand a particular job receive a higher wage than other jobs and explain why that factor should be
stiv31 [10]
Demand? No.

1.  Increased skillset THAT ALSO increases company profitability
2.  Increased experience THAT ALSO increases company profitability
3.  Increased need for particular employee to be profitable

3 0
4 years ago
Read 2 more answers
all the following are leading indicators except a) stock prices. b) the money supply. c) new orders. d) personal income.
gayaneshka [121]

All the following are leading indicators except stock prices. Option A

This is further explained below.

<h3>What are stock prices?</h3>

Generally, Every share of stock that is issued by a publicly traded corporation is automatically assigned a stock price.

The price is a representation of the worth of the firm, or the amount that members of the general public are prepared to pay for a share of the company.

It can and will go up and down depending on a variety of factors in the global environment and within the company itself. These fluctuations are inevitable.

In conclusion, Except for stock prices, each of the following can be considered a leading indicator.

Read more about indicators

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#SPJ1

5 0
1 year ago
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