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3 years ago

What happens to the equilibrium price when supplies goes down

1 answer:

3 0

An equilibrium price is where the quantity of goods supplied is equal to the quantity of goods demanded. So if supplies of the said product goes down the equilibrium will go down and the price and demand will be higher.

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Fletcher Company collected the following data regarding production of one of its products. Compute the direct materials quantity

Monica [59]

Answer:

$6,000 Unfavorable

Explanation:

Actual Quantity = 243,000 lbs

Standard Quantity:

= Actual finished units produced × Direct materials standard quantity per unit

= 40,000 units × 6 lbs

= 240,000 lbs

Standard Price = $2 per lb.

Hence,

Direct materials quantity variance:

= (Actual Quantity - Standard Quantity) × Standard Price

= (243,000 - 240,000) × $2

= $6,000 Unfavorable

4 0

2 years ago

Licensees are responsible for paying the costs of legal document preparation when they are preparing such documents for their cl

Blababa [14]

Answer:

The broker is responsible for bearing the cost.

Explanation:

The licensees are responsible for paying the costs of legal document preparation even if the documents were prepared by an agent. The broker may delegate the work but the responsibility cannot be delegated, and it is their responsibility to pay for these costs.

The only exception to this rule can happen when the legal documents are prepared by an attorney that represents the parties involved in the transaction.

5 0

3 years ago

Suppose the United States maintains a price floor for spinach. This policy might decrease revenues for spinach farmers if the: m

soldi70 [24.7K]

Answer:

Demand for spinach is elastic.

Explanation:

The price floor, which is maintained by the United States, is the minimum price for selling the goods. This price is set above the equilibrium price, which results in excess supply while demand for the same goods remains constant.

Since the prices for spinach cannot be set lower than the price floor and the policy is decreasing the revenue output for spinach farmers then this probably means that the prices are set too high which has decreased the demand for spinach. This means that the demand for spinach is elastic.

4 0

3 years ago

Online and offline marketing content is meant to drive action, which requires a focus on buyers problems. Effective brand journa

Elena-2011 [213]

Answer:

Stories

Explanation:

Stories are the stuffs that the people hear about and like to discuss about. Stories are part of the organization culture and are a good means for an organization to affect customer choices because the issues of the customers are highlighted which helps organization to rectify its operations.

7 0

3 years ago

Kanye Company is evaluating the purchase of a rebuilt spot-welding machine to be used in the manufacture of a new product. The m

nevsk [136]

Answer:

Explanation:

The internal rate of return is the discount rate that equates the after tax cash flows from an investment to the amount invested.

The IRR can be calculated using a financial calculator.

Cash flow in year zero = $-165,000

Cash flow each year from year one to seven = $31,692

IRR = 8%

To find the IRR using a financial calacutor:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. After inputting all the cash flows, press the IRR button and then press the compute button.

I hope my answer helps you

6 0

3 years ago