Answer:
b. supply is represented graphically by a curve and quantity supplied as a point on that curve.
Explanation:
Qunatity supplied shows how qunatity of a product changes in response to changes in price of that good. According to the law of supply, the higher the price of good, the higher the quantity supplied and the lower the price of a good, the lower the quantity supplied. This shows that quantity supplied has a direct relationship with price.
Changes in quantity supplied is shown by movement along a supply curve.
Changes in supply is caused by other factors other than changes in price. Some of these factors are :
Changes in price of similar goods
Tax
Change in number of suppliers
Technological advancement
Changes in supply is shown by movement of the supply curve either to the left or to the right and not a movement along the supply curve.
I hope my answer helps you
I will use the "8-Step process to critical thinking" in my personal and professional life in many ways.
<h3>What is the "8-Step process to critical thinking"?</h3>
The "8-Step process to critical thinking" includes the following categories:
- Reflection
- Analysis
- Information Acquisition
- Creativity
- Structuring arguments
- Decision making
- Commitment
- Debate.
The 8-step process involves a process of identifying, observing, describing, questioning, researching, establishing, responding, and sharing knowledge to achieve life improvements.
In my personal and professional life, I need to seek knowledge, information, and understanding to enhance the application of concepts and innovations to living and work.
After acquiring the required information, I will carry out a critical analysis and synthesis before taking action. Results obtained from my actions must be reflected upon to provide guidance for future activities.
Thus, the "8-Step process to critical thinking" will remain useful in my personal and professional life.
Learn more about the "8-Step process to critical thinking" at brainly.com/question/1376582
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Answer:
$9.20
Explanation:
Total cost per unit = Fixed cost per unit + average variable cost
Average fixed cost = $78,000 / 65,000 = $1.2
Total cost per unit = $1.2 + $8 = $9.20
I hope my answer helps you
Answer:
Dr Equipment $60,000
Cr. Horton, capital $60,000
Explanation:
Based on the information given we were told that Both of the partners agree that the fair value of the equipment was the amount of $60,000 which means that The appropiate journal entry made by the partnership to record Horton's investment should be:
Dr Equipment $60,000
Cr. Horton, capital $60,000
An economic downturn, usually characterized by a fall in the gross domestic product (GDP) and rising unemployment, is called recession. <span> If the economy declines significantly for at least six months then recession is declared. </span>This period is characterized with reduced trade and industrial activity.
