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3 years ago

Why are supply and demand curves sloping in opposite directions?

1 answer:

6 0

The first law of demand states that as price increases, less quantity is demanded. This is why the demand curve slopes down to the right. Because price and quantity move in opposite directions on the demand curve, the price elasticity of demand is always negative.

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Which of the following is a business organization owned by a group of people for their mutual benefit?

slava [35]

A cooperative. A cooperative--a business owned by a group of people to meet mutual (economic, social and cultural needs and aspirations).

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3 years ago

Read 2 more answers

Holding all else constant, an increase in preferences by Mexicans for U.S. goods will ______ the demand for dollars in the forei

Finger [1]

Answer:

D. Increase; increase

Explanation:

Exchange rate is defined as the amount of one currency that can be exchanged for another currency at a particular time.

Demand and supply affects exchange rates of currencies.

Currencies that are in more demand tend to have higher exchange rates, while those with low demand will have low exchange rate.

In this instance an increase in preference for US goods will cause an increased demand for dollars. The dollar becomes stronger against the Peso.

It will take more pesos to purchase the dollar, so equillibrum exchange rate of peso to dollar will increase.

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3 years ago

In constructing a common-size income statement, depreciation will be______. A. omitted since it is a noncash expense. B. express

Naddika [18.5K]

Answer:

B. expressed as a percentage of sales.

Explanation:

The common size income statement is the income statement where n each line the item on the income statement should be expressed as a percentage of sales

In the given options, the option B is correct as it shows that the depreciation would be expressed in sales percentage

Therefore all other options are wrong

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2 years ago

Cherokee Inc. is a merchandiser that provided the following information: Number of units sold 14,000 Selling price per unit $ 16

DanielleElmas [232]

Answer:

Results are below.

Explanation:

First, we need to calculate the cost of goods sold:

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

COGS= 12,000 + 87,000 - 23,000

COGS= $76,000

Traditional format income statement:

Sales= 14,000*16= 224,000

COGS= (76,000)

Gross profit= 148,000

Total selling expense= (20,000 + 14,000*1)= (34,000)

Total administrative expense= (13,000 + 14,000*1)= (27,000)

Net operating income= 87,000

Contribution format income statement:

Sales= 14,000*16= 224,000

Total variable cost= (76,000 + 14,000 + 14,000)= (104,000)

Contribution margin= 120,000

Total fixed selling expense= (20,000)

Total fixed administrative expense= (13,000)

Net operating income= 87,000

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3 years ago

____________ is best defined as a statistical procedure, which involves quantitatively pooling the data from a group of independ

Ludmilka [50]

The meta-analysis is the best represent as a statistical action, that which involves quantitatively pooling the data from a group of independent studies that have studied the same or similar clinical problems, by using the same or similar research methods.

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3 years ago