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3 years ago

If these are the only four sellers in the market, then when the price decreases from $4 to $2, the market quantity supplied

Business

1 answer:

inn [45]3 years ago

4 0

Answer:

Decreases by 50 percent

Explanation:

The law of supply asserts that other things remaining constant, the quantity of goods and services supplied increases as price rises. Therefore, the price and quantity supplied are directly related. Should the price fall, the quantity supplied will also decrease. Producers will prefer to supply more when the price is high to make more revenue.

The supply curve is upward sloping indicating how quantity supplied changes at different price levels. In the case, the price has decreased from $4 to $2, which represents a 50 percent drop. The quantities supplied will decrease as per the law of supply. A 50 percent decrease may result in a similar decrease in quantity supplied as the supply curve is upward sloping.

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During August, Salinger Company accumulated 580 hours of direct labor costs on Job 40 and 630 hours on Job 42. The total direct

Inga [223]

Answer:

Dr Work in process $13,210

Cr Wages payable $13,210

Explanation:

Based on the information given the appropriate journal entry to record the flow of labor costs into production during August is:

Dr Work in process $13,210

Cr Wages payable $13,210

(580*$13)+(630*$9)

($7540+$5670)

(To record the flow of labor costs into production during August)

6 0

3 years ago

For most producing firms:_______.

irinina [24]

Answer:

letter a is the correct answer

Explanation:

5 0

3 years ago

A group of business entrepreneurs who worried about their teenage children drinking and driving decided there must be some way t

vfiekz [6]

Answer: A) Prototype

Explanation:

The first model shown to entrepenuers are called prototypes

proto- before

6 0

3 years ago

Suppose the real risk-free rate is 3.50% and the future rate of inflation is expected to be constant at 2.20%. What rate of retu

muminat

Answer:

1.27%

Explanation:

Rate of return = [(1+real risk free rate)/(1+inflation rate)]-1

real risk free rate = 3.5%

inflation rate = 2.20%

Therefore Rate of return = [(1+ 3.5%)/(1+2.20%)]-1

=1.27%

5 0

3 years ago

Warner Company purchases $50,100 of raw materials on account, and it incurs $62,800 of factory labor costs. Supporting records s

a_sh-v [17]

Answer:

[Debit] Work In Process : Assembly Department $47,064

[Debit] Work In Process : Finishing Department $19,504

[Credit] Overheads $66,568

Explanation:

Note that overheads are assigned to departments on the basis of 160% of labor costs. Thus, our first point of call is to determine the labor cost for the respective departments. After that we then apply the 160 % to arrive at the Overheads assigned to that department

Step 1

Determine Departmental Labor Cost

Total Labor Costs = $62,800

Assembly Department = ( $44,400)

Finishing Department = $18,400

Step 2

Determine Overhead Cost for the Departments

Assembly Department ( $44,400 × 160 %) = $47,064

Finishing Department ( $18,400 × 160 %) = $19,504

Step 3

Journalize

<em>Debit</em> the Work In Process Account for the respective department and <em>Credit</em> the Overheads Account as above.

5 0

3 years ago