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son4ous [18]
3 years ago
9

If income decreases and, at the same time, a new technology is discovered that lowers the cost of producing the good, which of t

he following will happen?a. The equilibrium quantity will increase. The equilibrium price will increase.b. Cannot tell the change in equilibrium quantity. The equilibrium price will decreasec. The equilibrium quantity will decrease. The equilibrium price will increased. Cannot tell change in equilibrium quantity. Cannot tell the change in equilibrium price

Business
1 answer:
Fiesta28 [93]3 years ago
4 0

Answer:

b. Cannot tell the change in equilibrium quantity. The equilibrium price will decrease

Explanation:

Two things are going on here

1. Income decreases, that will shift demand inwards. People can buy fewer goods at any given price

2. New technology is discovered, that shifts supply outwards. Costs are reduced so producers can produce more at a given price

The resulting effects are that price will decrease but the result in quantity is undetermined. This can be seen with the two examples attached. In both cases, the shifting of the curves from D0->D1 and S0->S1 results in lower prices. However, in one case the equilibrium quantity goes up and in the other goes up.

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On January 1, Greenview Company adopted the dollar-value LIFO method. The inventory cost on January 1 was $112,000. On December
Mumz [18]

Answer:

125,200

Explanation:

Adjust inventory to base year prices:

= Cost of ending inventory ÷ cost index for the year

= $136400 ÷ 1.1

= $124,000

Current year LIFO layer:

= Adjust inventory to base year prices - Cost of beginning inventory

= $124,000 - $112,000

= $12,000

Inventory to be shown:

= Add the new LIFO layer at end of period prices to prior year LIFO inventory

= (112,000 × 1) + (12,000 × 1.1)

= 112,000 + 13,200

= 125,200

7 0
3 years ago
The distribution of hourly sales for a local family owned store is normally distributed with a mean of $225 per hour and a stand
adell [148]

Answer:  

The standard deviation of 75 dollars

Explanation:

Standard deviation, S.D.= 75 dollars; Mean, M= 225 dollars; Mean deviation, D= ?

S.D. = √ D² - M

∴ 75 = √ D² - 225

D² = 75² - 225 = 5625 + 225 = 5950

∴ D = √5950 = 24.4 dollars

From the above, it shows that, the standard deviation of 75 dollars contains the middle 95 percent of hourly sales.

6 0
3 years ago
Your uncle has $375,000 and wants to retire. He expects to live for another 25 years and to earn 7.5% on his invested funds. How
Alex777 [14]

Answer:

d. $33,641.50

Explanation:

In this question, we use the PMT formula which is shown in the spreadsheet.  

The NPER represents the time period.

Given that,  

Present value = $375,000

Future value = $0

Rate of interest = 7.5%

NPER = 25 years

The formula is shown below:

= -PMT(Rate;NPER;PV;FV;type)

So, after solving this, the answer would be $33,641.50

5 0
3 years ago
When a product is a ______, the more ______ its demand.
Dominik [7]

Answer:

oil

Explanation:

5 0
3 years ago
Read 2 more answers
On April 1, 2021, Western Communications, Inc., issued 12% bonds, dated March 1, 2021, with face amount of $33 million. The bond
masya89 [10]

Answer:

western

Cash                                  32,300,000 debit

discount on bonds payable 700,000 debit

                bonds payable                   33,000,000 credit

interest expense    2,096,666.67‬     debit

      discount on bonds payable    116,666.67 credit

     cash                                          1,980,000 credit

(repeat for the 6 interest payment)

at maturity:

bonds payable 33,000,000 debit

         cash                   33,000,000 credit  

stillworth

Investment-Debt securities 32,300 debit

Discount on Debt securities    700 debit

                     cash                             33,000 credit

interest expense    2,096.67‬     debit

      discount on bonds payable    116.67 credit

     cash                                          1,980 credit

(repeat for the 6 interest payment)

at maturity:

cash      33,000 debit

       Investment-Debt securities   33,000 credit

Explanation:

western:

we subtract the face value from the proceeds to determiante how much is the discount

stillworth

As they were acquired as long erm investment we will record using an amortization method as they will be held until maturity. If not, we will simply use face value

<u><em>amortization of the bonds:</em></u>

The total payment are 6

so we divide the 700,000 among 6 to know the amortization per payment:

700,000/6 = 116,666.67

cash outlay:

33,000,000 x 0.12/2 = 1,980,000

interest expense will be the sum of both concepts:

1,980,000 + 116,666.67 = 2,096,666.67‬

for the 700 it will be:

700/6 = 116.67

then 33,000 x 0.06 = 1,980

1,980 + 116.67 = 2,096.67 interest expense.

6 0
3 years ago
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