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3 years ago

The supply curve for a given product indicates that price must be lowered in order to increase the quantity supplied.

Business

1 answer:

Fed [463]3 years ago

6 0

Answer:

b) False

Explanation:

The supply curve is upward sloping which shows the higher the price, the higher the quantity supplied and the lower the price, the lower the quantity supplied.

I hope my answer helps you

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Determine if the situation below is a safe practice: Marcus hasn't worked with his set of power tools in several months. He know

cupoosta [38]

Safe, tools will need to be checked before every use and after being stored for a long time. This will catch any maintenance that needs to happen before they are used and an injury can happen.<span />

5 0

3 years ago

Read 2 more answers

Mustang Corporation reports the following for the month of April:Finished goods inventory, April 1$32,600 Finished goods invento

weeeeeb [17]

Answer:

COGS= $129,800

Explanation:

Giving the following information:

Finished goods inventory, April 1$32,600

Finished goods inventory, April 30 26,600

Total cost of goods manufactured 123,800

<u>To calculate the cost of goods sold, we need to use the following formula:</u>

COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory

COGS= 32,600 + 123,800 - 26,600

COGS= $129,800

4 0

3 years ago

Paul consumes only books and DVDs. At his current consumption bundle, his marginal utility from DVDs is 21 and from books is 4

Nat2105 [25]

Answer:

Paul is NOT maximizing his utility.

Explanation:

Given:

MU $_{D}$ = Marginal utility from DVDs = 21

MU $_{B}$ = Marginal utility from books = 4

P $_{D}$ = Price of DVDS = $11

P $_{B}$ = Price of books = $1

Under the utility maximization theory for two or more goods, utility is said to be maximized by a consumer when the ratios of the marginal utility to price per unit of each good are equal to each other. For this question, this implies that when we have:

MU $_{D}$ / P $_{D}$ = MU $_{B}$ / P $_{B}$ ………………………….. (1)

Therefore, we have:

MU $_{D}$ / P $_{D}$ = 21 / 11 = 1.91

MU $_{B}$ / P $_{B}$ = 4 / 1 = 4

Since 1.91 = MU $_{D}$ / P $_{D}$ < MU $_{B}$ / P $_{B}$ = 4, this implies that these conditions are NOT consistent with equation (1). Therefore, Paul is NOT maximizing his utility.

In order to maximize his utility, Paul should consume more DVDs and consume less books until these conditions are consistent with equation (1).

7 0

3 years ago

The stock in Up-Towne Movers is selling for $46.00 per share. Investors have a required return of 11.1 percent and expect the di

Dimas [21]

Answer:

From the calculation below Up-Towne Movers just paid a dividend of $3.13

Explanation:

The price of share=D1/r-g

The Do is the dividend just paid which is the unknown in the equation

g is the dividend growth rate of 4.3%

r is the required return of 11.1%

The share price is $46.00

$46=Do/(11.1%-4.3%)

46=Do/0.068

by cross-multiplication the equation becomes

$46*0.068 =Do

Do=$46*0.068

Do=$3.13

The dividend just paid by Up-Towne Movers is $3.13 as calculated above from the share price equation

8 0

3 years ago

Mary's Mugs produces and sells various types of ceramic mugs. The business began operations on January 1, year 1, and its costs

vova2212 [387]

Answer:

Explanation:

Direct Material cost per unit = Cost of Direct materials/ units produced = $3400/17000 mugs = $0.20 per mug

Direct material used per mug = 0.40 pounds

Direct material cost per pound = $0.20 / 0.40 = $0.50 per round

Direct material inventory = 3400 * $0.50 = $1700

b. Compute the finished goods ending inventory in units on December 31, year 1.

Finished Goods inventory (in units) = Finished goods inventory / manufacturing cost per unit

Manufacturing cost per unit = (Direct material + Direct Labour + Indirect manufacturing cost)/Units Produced

= ($3400+$25280+$1140+$4180)/17000 = $2 per unit

Finished Goods inventory (in unit) :

Year 1 = $6,000/$2 = 3000 units

c. Compute the selling price per unit.

Selling price per unit = Revenues / units sold

Units sold = Units produced - units in the ending finished goods inventory = 17000-3000 = 14000

Selling price per unit = $52,500/14000 = $3.75

d.Compute the operating profit (loss) for year 1

Operating income for the year :

Revenues $52,500

Cost of goods sold (14000*$2) (28000 )

-----------------------------------------------------------------

Gross Margin $24,500

Less marketing and administrative cost:

Variable cost ($2,350)

Fixed cost ($11,800)

-----------------------------------------

($14,150)

Operating Profit $10,350

7 0

3 years ago