Here is the answer
https://www.science.edu/Acellus/curriculum/career-technical-education-courses/lesson-lists/Business%20Management%20Curriculum.pdf
Answer: The equilibrium price is $68, Quantity 32 million barrel, The quantity to import is 53 million barrel
Explanation:
Given that D = -2 + (1/2)P, S = 15 - (1/4)P
At equilibrium Qd = Qs
-2 + (1/2)P = 15 - (1/4)P
Change 1/2 P and 1/4 P to decimal we have 0.5, and 0.25 respectively
Collect like terms
-2 -15 = 0.25P - 0.5P
17 = 0.25P
Divide both sides by P
17/0.25 = 0.25P /0.25
68 = P
P = 68
Substitute the value of P into equation 1 and 2 determine the value of Q
-2 + 0.5 (68)
-2 + 34
= 32
15 - 0.25 (68)
15 + 17
= 32
To determine the quantity to import when world price is $11.00 per barrel ,substitute the value into equation 1
-2 + 0.5 (11)
-2 + 55
= 53
Therefore quantity to import is 53 millions barrel
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Answer: d. A statement that the financial statements are the responsibility of the client's management
Explanation:
The new reporting standard (AS 3101) requires auditor's opinion on the financial statements to be moved to the first paragraph of the Audit report, Requires the Auditor to use section titles to identify and highlight important information, Requires an Auditor to provide a clear clarification that the audit scope includes notes to the financial statement, and also the Auditor is required to disclose the year they began serving consecutively as the company's auditors.
A statement that the financial statements are the responsibility of the client's management is NOT part of changes brought by AS 3101
<span>In
the decline stage of the product the main objective of the marketing
is reinforce
the positive perception of the brand by the loyal costumers. In this
stage,
the
product is not going to attract any new potential
costumers; therefor
the marketing efforts are <span>often
focused to advertise the product to its loyal customer base, this
decreases marketing costs while improving the overall perception of
the product and ultimately the brand.</span></span>
