1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Sergeu [11.5K]
3 years ago
13

The demand for lobsters is lower in the spring than in the summer. If the price of lobster is higher in spring than in summer th

en
a. there are more substitutes for lobster in summer than there are in spring.
b. there is a shortage of lobsters in spring and a surplus of lobster in summer.
c. the supply of lobster is greater in summer than in spring.
d. consumers’ tastes for lobster are greater in spring than in summer.
Business
1 answer:
SIZIF [17.4K]3 years ago
4 0

Answer:

C. Supply of lobster is greater in summer than in spring .

Explanation:

Demand & supply refer to consumers & producers ability & willingness to buy & sell at given prices respectively .

Demand curve is downward sloping, supply is upward sloping - due to law of demand & law of supply .

Market Equilibrium is where Demand = Supply & the curves intersect . Decrease in demand (Lobsters spring case) generally creates excess supply which leads to competition among sellers and reduces the prices . However if price is increasing despite of demand decrease (Lobsters  spring case) , the excess supply due to demand shortage would not have happened due to c) lesser supply in spring. So , decrease in demand off set by decrease in supply also in spring would have led to lobsters' higher price despite of lower demand in spring.

You might be interested in
John Hernandez is 24 years old and has saved enough money to fund an adequate emergency fund. In addition, he has saved $5,600 t
poizon [28]

Answer:

C. Growth

Explanation:

Starting investment early is something that is always encouraged and that is the case of John Hernadez here. By starting early, before he retires, he'd have been able to grow is investment portfolio substantially and even be a millionaire by the time of his retirement. Growth is the most important factor for John, that's why is he's starting his investment early. With the time given for growth, investment value may increase in value and it allows time for appreciation of stock price.

4 0
3 years ago
Read 2 more answers
According to your text, in the broadest terms, the "marketplace" refers to:_________
OLga [1]

Answer:

A. The World of trade

Explanation:

The marketplace is an economic system where companies compete with each other in order to sell their products. It is a place where trade occurs. In the broadest terms, a marketplace is the world of trade where buying of goods and services takes place.

8 0
3 years ago
you are a trust fund baby, but you cannot touch your money until you are 30. you are now 21 and want to plan for your future bas
meriva

Answer:

Explanation:

30 - 21 = 9 years

r = 3% inflation

FV = 25,000

We know that FV = PV(1+r)^n

25,000 = PV(1+0.03)^9

PV = 25,000/ 1.3047731

PV = 19,160.42, this is how much it worth today

6 0
3 years ago
A code of ethics: a should be kept confidential from a firm's employees. b should be limited to a list of dos and don'ts. c shou
charle [14.2K]
<span>The correct answer is (d) should be in written form to avoid confusion. A code of ethics that is simply verbal can lead to a lot of confusion as employees will not actually know it entirely. Being in written form allows everyone in the company to refer to it and follow it.</span>
6 0
3 years ago
The field of accounting that reports according to generally accepted accounting principles (GAAP) is called:cost accounting.fina
Flauer [41]

Answer:

Financial accounting

Explanation:

The Generally accepted accounting principle (GAAP) is the standard, principles and  procedures that accountant must follow or adhere to when compiling financial statements. The major objective of GAAP is to make the accounting process uniform so financial reports are comparable from one company to another.

4 0
3 years ago
Other questions:
  • A physical count of supplies on hand at the end of May for Masters, Inc. indicated $1,250 of supplies on hand. The general ledge
    9·1 answer
  • Suppose that real GDP is currently ​$13.55 trillion and potential real GDP is​ $14.0 trillion, or a gap of ​$500500 billion. The
    14·1 answer
  • The following transactions occurred during the month of June 2021 for the Stridewell Corporation. The company owns and operates
    9·1 answer
  • A former client of charlie hayes, cpa, filed a lawsuit in state court alleging that charlie failed to exercise due care in the p
    11·2 answers
  • Which of the following applies to the "value of money"?
    6·2 answers
  • What are the 10 categories of business law?
    9·1 answer
  • Someone who is young, lacks funds, and really wants to gain technical skills while serving his or her nation should consider
    10·1 answer
  • Burrows, Inc. borrowed $100,000 from Last Bank by signing a formal agreement to repay the bank in 10 years. Burrows' journal ent
    7·1 answer
  • For accounting purposes, postdated checks (checks payable in the future) are considered to be
    10·1 answer
  • In market economies, firms rarely worry about the availability of inputs to produce their products, whereas in command economies
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!