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4 years ago

If quantity demanded exceeds quantity supplied, what most likely needs to happen to achieve equilibrium?

Business

1 answer:

Jlenok [28]4 years ago

5 0

Answer:

The correct answer would be option C, The price needs to increase.

Explanation:

In order to maintain a balance or equilibrium, there should always be a balance between the quantity demanded and the quantity supplied. If quantity demanded exceeds quantity supplied, it means people are demanding the product more and the supply of that product is not meeting the demand. In this scenario when there is more demand of a product than supply, the price of the product should increase in order to create a balance between the quantity demanded and supplied, because it is the law of demand that when demand increases, the prices of the product also increases and vice versa. So to maintain the equilibrium, the price of the product should increase. In this way demand will decrease and will reach a point where demand will meet the supply of the product.

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Adding Erik Olin Wright’s concept of contradictory class locations to the Marxist concept of capitalists versus the proletariat,

bija089 [108]

Answer:

a salaried paralegal assistant at a law firm

Correct label: proletariat the head of printing press operations at a major newspaper
Correct label: contradictory the owner of a large franchised restaurant
Correct label: capitalist a freelance graphic artist
Correct label: contradictory

4 0

3 years ago

Sheila and Joe Wells are married with two dependent children. During 2019, they have gross income of $159,800, deductions for AG

Anna71 [15]

They have a tax due of $6,453.36

Explanation:

Gross income = $159,800

Deductions for AGI = $5,500

Itemized deductions = $25,000

Tax credits = $2,000

Federal income tax = $22,000

AGI = gross income - deductions for AGI

AGI = 159800 - 5500

AGI = 154300

Taxable income = AGI - itemized deductions

Taxable income = 154300 - 25000

Taxable income = $1,29,300‬

Using tax table of 2019

Gross tax = 32170 + ( 129300 - 88359 ) × 24%

Gross tax = $17,546.64‬

Tax due = gross tax - tax credit - withholding

Tax due is = 17546.64 - 2000 - 22000 = - 6453.36

Tax due is = $6,453.36

5 0

4 years ago

In Year 8, Seda Corp. acquired 6,000 shares of its $1 par value common stock at $36 per share. During Year 9, Seda issued 3,000

Elena L [17]

Answer: Please see answer in explanation column

Explanation:

Using the cost method, treasury stock is credited for cost of the shares when it is reissued, while Cash is debited for amount received. Also, additional paid-in capital from treasury stock will be credited to show the difference.

journal entry to record the issuance of 3000 shares in year 9

Date Account Debit Credit

Year 9 Cash (3,000x $50) $150,000

Treasury stock (3,000x$36) $108,000

Additional paid-in capital- treasury stock $42,000

( $150,000 - 108,000)

7 0

4 years ago

JeMarcus is going to sell sporting apparel, which he has already purchased from manufacturers, and has signed a deal agreeing to

Butoxors [25]

Answer:

Place is the correct answer.

Explanation:

8 0

3 years ago

Dianne Doolittle wants to download an itemized invoice for the QuickBooks Online subscriptions on her wholesale billing account

ANTONII [103]

Answer:. CSV and PDF

Explanation:

QuickBooks is an Accounting software that was developed to mainly help small to medium size companies maintain a proper accounting system.

The Wholesale billing option enables the owner to pay the subscription for the clients that they moved to the wholesale billing list.

When downloading an itemized invoice for this there are 2 file formats that QuickBooks permits people to use which are CSV and PDF file formats.

6 0

3 years ago