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Aleksandr [31]
3 years ago
12

The market for breakfast cereal is currently in equilibrium. Suddenly there is a storm that destroys the wheat that farmers had

been growing for the cereal manufacturer. What will happen to the cereal market after the storm?
a) Demand will decrease.
b) Supply will increase.
c) Demand will increase.
d) Supply will decrease.
Business
1 answer:
lutik1710 [3]3 years ago
8 0

Answer:

C

Explanation:

It will need to decrease Because the wheat is gone, so it decreases the amount of cereal made.

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At its $60 selling price, Atlantic Company has sales of $15,000, variable manufacturing costs of $4,000, fixed manufacturing cos
Kay [80]

Answer:

$28

Explanation:

Step 1:

If a company sells a product at $60 each and makes a sale of $15,000, the number of units of items produced is

$15,000 ÷ $60 = 250 units.

Step 2:

To calculate the company's contribution margin per unit,

we have, (unit selling prices - unit production cost)

unit selling price is #60

unit cost of production is (total cost of prodcution ÷ number of units)

total cost of production is $4,000+ $1,000+ $2,000+ $1,000 = $8000

Unit cost of production is $8000 ÷ 250 = $32

i.e it takes $32 to manufacture 1 product.

Contribution margin = $60 - $32

                                 = $28

∴ the contribution margin is $28.

Cheers.

6 0
3 years ago
The period between March 9 and June 16, 1933, when Congress passed 15 major acts to meet an economic crisis, was called________.
JulijaS [17]

Answer:

Hundred Days

Explanation:

The period between March 9 and June 16, 1933, when Congress passed 15 major acts to meet the economic crisis of the Depression was called <u>the hundred Days</u>. As we know that the First New Deal began in a whirlwind of legislative action called “The First Hundred Days.” From March through June 1933, at Roosevelt’s behest, Congress passed legislation aimed at addressing the banking crisis, unemployment, and weak industrial performance, among other problems, through an “alphabet soup” of new laws and agencies.

3 0
3 years ago
(Advanced analysis) Answer the question on the basis of the following information for a mixed open economy. The letters Y, Ca, I
son4ous [18]

Answer:

The correct option is c. raise G by $30 or reduce T by $40.

Explanation:

Note: This question is not complete. The complete question is therefore provided before answering the question as follows:

(Advanced analysis) Answer the question on the basis of the following information for a mixed open economy. The letters Y, Ca, Ig, Xn, G, and T stand for GDP, consumption, gross investment, net exports, government purchases, and net taxes respectively. Figures are in billions of dollars.

Ca = 25 + 0.75(Y - T)

Ig = Ig0 = 50

Xn = Xn0 = 10

G = G0 = 70

T = T0 = 30

Refer to the information. If government desired to raise the equilibrium GDP to $650, it could:

a. raise G by $45 or reduce T by $10.

b. raise G by $40 and reduce T by $30.

c. raise G by $30 or reduce T by $40.

d. raise both and T by $40.

e. reduce G by $30 and increase T by $40.

The explanation of the answer is now provided as follows:

Equilibrium GDP (Y) can be obtained as follows:

Y = C + G + I + Xn …………………….. (1)

Substituting all the values in the question into equation (1) and solve for Y, we have:

Y = 25 + 0.75(Y - 30) + 70 + 50 + 10

Y = 0.75Y - 22.50 + 155

Y – 0.75Y = 132.50

0.25Y = 132.50

Y = 132.50 / 0.25

Y = 530

Therefore, we have:

Y = Current equilibrium GDP = $530

Amount of increase in equilibrium GDP required = Desired equilibrium GDP – Current equilibrium GDP = 650 - 530 = 120

From the question, we have:

Ca = 25 + 0.75(Y - T) ………………. (2)

The 0.75 in equation (2) is the marginal propensity to consume (MPC). Therefore, we have:

MPC = 0.75

Expenditure multiplier = 1 / (1 - 0.75) = 4

Tax multiplier = - MPC / (1 – MPC) = -0.75 / (1 – 0.75) = -3

Amount of increase in G or government expenditure required = Amount of increase in equilibrium GDP required / Expenditure multiplier = 120 / 4 = $30

Amount of tax cut or decrease in T required = Amount of increase in equilibrium GDP required / Tax multiplier = 120 / (-3) = -$40

Therefore, correct option is c. raise G by $30 or reduce T by $40.

4 0
3 years ago
Why is it important to carefully evaluate promotional claims?
juin [17]
<span>b. companies always carefully test any claims that they make about a product </span>
8 0
3 years ago
Read 2 more answers
Break-Even Sales Currently, the unit selling price of a product is $7,520, the unit variable cost is $4,400, and the total fixed
-Dominant- [34]

Answer:

Current Break Even point = 6,500 units

Break Even point in Unit Sale = 7,500 units

Explanation:

The computation of break-even sales is shown below:-

Sale price = $8,000

Variable expense = $4,400

Contribution margin = Sale price - Variable expenses

= $8,000 - $4,400

= $3,600

Fixed expenses = $23,400,000

Current Break Even point = Fixed expenses ÷ Contribution margin

= $23,400,000 ÷ $3,600

= 6,500 units

Therefore for computing the break even point we simply divide contribution margin by fixed expenses

b. Sale price = $7,520

Variable expense = $4,400

Contribution margin =$7,520 - $4,400

= $3,120

Fixed expenses plus desired profit = $23,400,000

Break Even point in Unit Sale = Fixed expenses ÷ Contribution margin

= $23,400,000 ÷ $3,120

= 7,500 units

So, for computing the break even point we simply divide contribution margin by fixed expenses

5 0
3 years ago
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