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gizmo_the_mogwai [7]
3 years ago
7

If demand is inelastic, a drought around the world would ___the total revenue that farmers receive from the sale of grain.

Business
2 answers:
Elena L [17]3 years ago
7 0

Answer:

Raises ;

C. A drought in Kansas is not significant enough to affect the worldwide price of grain.

Explanation:

Drought is a situation where there is shortage of water due to prolong absence of rainfall.

This is because, when Kansas has a drought, purchasers or buyers can substitute  wheat from other places for Kansas wheat.

But, when the whole world has a drought, purchasers or buyers have no other suppliers of wheat to substitute.  This means that, no area will have wheat so that the buyers can buy, because every area will be affected by the drought.

In this case,the demand for wheat is inelastic in the short run.

yan [13]3 years ago
6 0

Answers:

1) The correct word for the blank space is: raise.

2) The correct answer is letter "C": A drought in Kansas is not significant enough to affect the worldwide price of grain.

Explanation:

1) Demand inelastic goods or services are those with demands that do not vary after changes in their prices. In front of a drought around the world, the supply of grains will fall but if the demand is inelastic people would still request grains at the same level. <em>It implies farmers would still have revenue but incurring in fewer production costs. </em>

2) If a drought only affects the farms in Kansas, there will be less supply of grains grew in Kansas but consumers could request the grains from other territories that are not affected by the drought. <em>Thus, the revenue from Kansas' farmers will be reduced but it will not affect the price of grains around the world.</em>

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igomit [66]

Answer and Explanation:

The computation of the total budgeted selling and administrative expenses is shown below;

Utilities expense $2,800

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total budgeted selling and administrative expenses $285,800

3 0
3 years ago
____________ risk refers to the danger of changes in buying power during times of rising or falling prices.
natali 33 [55]

The risk refers to the danger of changes in buying power during times of rising or falling prices is known as inflation.

<h3>What is a risk?</h3>

Risk refers to the uncertainty or probability of an accidental event that will affect the decision-making of an individual or organization. In business the higher the risk, the higher the profit is achieved.

Inflation is defined as the ratio at which prices rise over time. Inflation is usually defined as a wide measure of price increases or increases in the cost of living in a place affecting its citizens.

Inflation diminishes the purchasing power of individuals which leads to high risk for investors who paid a fixed rate of interest on the investment. Most concerned about inflation-reducing returns are those individuals who invested in cash equivalents.

Learn more about risk, here:

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3 0
2 years ago
The perfectly competitive firm's short-run supply curve is the Group of answer choices upward-sloping portion of its average tot
allochka39001 [22]

Answer:

Portion of its marginal cost curve that lies above its average variable cost curve.

Explanation:

This is explained to be the portion of its marginal cost curve because marginal gross benefits exceeds marginal cost, the firm can earn greater profits by increasing its output.

These profits are been maximized by choosing to supply the level of output where its marginal revenue equals its marginal cost. When this revenue is below the said marginal cost, money is lost, and consequently, it must reduce its output. Profits are however utilized when the firm chooses the level of output where its marginal revenue equals its marginal cost.

4 0
3 years ago
Which of the following statements about conflict is most accurate? Conflict generally occurs between competitive individuals and
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The correct answer is B. Conflict is a normal part of everyday workplace.

Explanation

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5 0
3 years ago
Ron Jones has been a trusted employee for over 10 years. He is responsible for ordering merchandise inventory, receiving the inv
ch4aika [34]

Answer:

Segregation of duties.

Explanation:

Segregation of duties -

The concept of segregation of duties is based on the shared responsibilities .

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It is the fundamental building block for running a business efficiently , in order to reduce any management risk .

In the business it is the major case of any fraud or error , as one person is responsible for maximum duties functioning in the business .

Therefore , it is import to divide various duties .

Hence , from the given scenario of the question,

The correct answer is segregation of duties .

5 0
3 years ago
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