Draw the supply/demand curve. The line is above market equilibrium....the question literally states that the price rises, and since the supply curve has a positive slope (assuming unit elasticity), the supply will increase. Meanwhile, the demand curve has a negative slope (still assuming unit elasticity), so the demand for it will decrease. This will result in a surplus, aka, an excess supply.
Answer:
attached answer
Explanation:
To draw the FPP we have to calculate either the formula or calcualte two points in the curve to draw the line.
Mowed Land Trimmed bushed
0(0 hours x 3 per hour) 20 (4 hours x 5 per hour)
3(1 hours x 3 per hour) 15 (3 hours x 5 per hour)
6(2 hours x 3 per hour) 10 (2 hours x 5 per hour)
9(3 hours x 3 per hour) 5 (1 hours x 5 per hour)
12(4 hours x 3 per hour) 0 (0 hours x 5 per hour)
Answer: A. STORAGE FACILITIES
Explanation: STORAGE FACILITIES are structures or systems put in place to Prevent the quick spoilage of a given product. Storage facilities are required for products that can easily deteriorate. With proper storage facilities or System the shelf life of the product can be Extended.
Businesses planning to market Al NATURAL PRODUCTS MUST INVEST IN STORAGE FACILITIES AS NATURAL PRODUCTS DETERIORATE EASILY IF NOT STORED PROPERLY. The storage facility can be in the form of COLD ROOMS for frozen Products or COOL DRY ENVIRONMENT for most processed foods etc.
The element of this and any other contract include CONSIDERATION.
In business law, consideration refers to the exchange of money and the receipt of the item that was bargained for. In every transaction, there is always consideration in order for the contract to be legally binding.
The journal entry for the sale would include a credit to sales tax payable for $156 if the selling price of the merchandise is $2600.
The government levies a consumption tax known as a sales tax on the purchase of goods and services. At the point of sale, a standard sales tax is imposed, collected by the retailer, and paid to the government. Companies must first apply for a sales tax permit from their state's department of taxation in order to be able to collect sales tax from customers. Every time a customer makes a purchase, businesses collect sales tax, which they subsequently monthly or quarterly send to the state.
As the selling price of the merchandise is $2,600 and the state sales tax is 6%, this means that 6% of $2,600 has to be paid to the state governing body.
Sales tax = 6% of 2600
Sales tax = 6/100 × 2600
Sales tax = 0.06 × 2600
Sales tax = $156
Therefore; the entry to journalize the sale would include a credit to sales tax payable for $156 if the selling price of the merchandise is $2600.
To know more about sales tax refer:
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