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SashulF [63]
3 years ago
9

what is the definition of the law of supply, and what are the factors that will cause a shift in the supply of a product?

Business
1 answer:
harina [27]3 years ago
5 0
The law of supply<span> is a microeconomic </span>law which says<span>  "...all other </span>factors<span> being equal, as the price of a good or service increases, the quantity of goods or services that suppliers offer </span>will<span> increase, and vice versa..."</span>
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Which of the following is an advantage of product departmentalization? a. The speed and effectiveness of decision making are enh
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Explanation:

Product departmentalization involves dividing the various products produced by an organization into different departments which are supervised by their own managers. An advantage of product departmentalization is that it would ensure that decisions are made faster as each product has its own manager in charge of decision making.

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Sony, a firm once synonymous with portable music, has ceded its market dominance to Apple because:
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Answer: c. it failed to take advantage of opportunities presented by Moore's Law.

Explanation:

Moore's law is states that the number of transistors in a dense integrated circuit doubles roughly every two years.

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In 1975, he reviewed the forecast to doubling every two years, at a compound annual growth rate of 41.4percent.

Apple were able to take over the portable music market because they made they products such as the ipods, the iPhone, the iPad, and the MacBook smaller and very effective to use. This qualities endeared the Apple products to the consumer market, making apple products to swiftly replace the Sony portable players.

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3 years ago
In a given year, Jennifer earns $50,000 and spends $40,000. During the same period, Stcve earns $30,000 and spends $27,000. If J
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Answer:

The sales tax is regressive with respect to income

Explanation:

sales tax by Jennifer = 0.1*30000

                                   = 3000

tax/income = 3000/50000

                   = 6%

sales tax by steve = 0.1*27000

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tax/income = 2700/30000

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The tax increases with decrease in income, it indeed is regressive on the whole.

Therefore, The sales tax is regressive with respect to income

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3 years ago
Mason bought a rotisserie in preparation for a party he was planning. When he put a chicken on the rotisserie, it would not rota
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Answer: Yes, although the salesperson did not make any express warranties, the UCC imposes an implied warranty of merchantability under which the rotisserie is guaranteed to be fit for the ordinary purposes for which it is used.

Explanation:

From the information given, we can infer that Mason has a recourse. Even though the salesperson did not make any express warranties, it should be noted that the UCC imposes an implied warranty of merchantability and hence, the rotisserie will be guaranteed to be fit for the purposes ordinarily for which it is used.

Therefore, the correct option will be D.

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