The demand curve shows the amount of a product that consumers are willing and able to buy at each possible price.
Resources have two factors that impact their demand curve. These two factors are the price of the product made by the resource and the productivity of the resource. The productivity of the resource denotes the output (expressed either as units produced or as economic value) per unit of resource input.
Answer:
$92,400
Explanation:
Balance of the credit column on Chaco’s trial balance.
The Total credit column balance will be:
Accounts payable $25,200
Common Stock $21,200
Notes payable $46,000
We are going to add them up
Hence:
Total credit balance =
$25,200 + $21,200 + $46,000
Total credit balance = $92,400
Answer:
The business is complying with the Liquidation concept.
Explanation:
Liquidation in most cases is a concept in business that happens when a company sells off its inventory lower than their cost price because the company is about to be closed down.
It is usually to generate cash within a short period of time to pay off debts or creditors.
Answer:
We employ the fact that Pprofit Maximizing Price = Marginal cost * (ed/ed + 1)
Price = $9 * (-3 / (-3 + 1))
Price = $9 * (-3/-2)
Price = $9 * 1.5
Price = $13.5
As we can see that the profit maximizing price is 13.5. Whereas, the current price of $15 which is not profit maximizing. So the firm should reduce the price to 13.5 per unit so as to be maximizing profit.
In season January through November.
