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Svetradugi [14.3K]
3 years ago
5

If the price of one of the products associated with indifference curves increases, all else the same, what is the result?

Business
2 answers:
Rudik [331]3 years ago
5 0

Answer:

The individual is able to get to a lower level of utility

Explanation:

Cloud [144]3 years ago
5 0

Answer:

The correct answer is letter "C": The individual is able to get to a lower level of utility.

Explanation:

An Indifference Curve determines the combination of two goods that will provide equal satisfaction. If you want more of one good and less of another, you will be willing to trade some of one for more of the other. But the amount of the first good you are willing to give up will decrease once you obtain more of the second.

<em>In front of the raise of the price of the goods, plotted in a graph, the indifference curves move inwards implying the consumer satisfaction reduces.</em>

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An increase in the price of oil will a. shift the supply curve of oil to the left. b. shift the supply curve of oil to the right
klasskru [66]

Answer:

The correct answer is option c.

Explanation:

An increase in the price of oil will cause the quantity demanded of a commodity to decline and the quantity supplied to increase. This will cause a surplus in the market.

There will be no change in the demand and supply curve.

This is because of the law of demand and supply.

According to the law of demand, the price of a commodity is inversely related to the quantity demanded of the commodity, while other factors are kept constant.

Similarly, the law of supply states that the price of a commodity is positively related to the quantity demanded of a commodity.

The demand and supply curves are not affected by the changes in price, they change as a result of changes in other factors.

3 0
3 years ago
Swifty Company reports the following operating results for the month of August: sales $315,000 (units 5,000); variable costs $21
Sloan [31]

Answer:

Net income to be earned =   $58,500

Explanation:

The net income to be earned can determined as follows:

<em>Net income = (sales value - Variable costs) - Fixed costs</em>

With an increase in selling price by 10%, the total sales value would now be

Total sales value = 110% × 315,000 =$346,500

Net income therefore would be

                    = (346,500 - 218,000) - 70,000

                  =   $58,500

Not that the fixed cost will not change because it is independent of volume and also the variable cost has been  stated to remain the same.

4 0
3 years ago
If employers do not require a(n) __________, performance appraisal ratings often do not match the normal distribution of a bell-
Lubov Fominskaja [6]

Answer:

forced distribution

Explanation:

Based on the rest of the sentence it can be said that the missing term is forced distribution. This is a system that requires managers to evaluate each individual and rank them typically into one of three categories. These categories are excellent, good, and poor and allow managers to indicate if the employee should be terminated, is doing good, or is in-line for promotion as indicated in the graph below. This term is also known as the vitality curve or bell curve.

4 0
2 years ago
Gaulle Company began the year with a balance of $6,000 in Accounts Receivable and ended the year with $9,000 in the account. Rev
Mkey [24]

Answer:

$35,000

Explanation:

Data provided in the question:

Accounts Receivable at the start of the year = $6,000

Accounts Receivable at the end of the year = $9,000

Revenues for the period = $38,000

Now,

cash collected from the customers

= Beginning balance + Revenue for the year - Ending balance of account receivable

= $6,000 + $38,000 - $9,000

= $35,000

8 0
3 years ago
Suppose that you are the vice president of operations of a manufacturing firm that sells an industrial lubricant in a competitiv
gladu [14]

Answer:

400

Explanation:

Qd = 45 - 2P

Qd    = -15 + P

45 - 2P = P - 15

60 = 3P

60/3 = P = 20

Q = 45 - 2*20 = 5

Q = -15+20 = 5

The quantity will be 5 and price 20

<u>Now we will caclulate the consumer surplus:</u>

Which the area of the demand curve above the equilibrium.

We calculate he area of a triangle:

base x high / 2

\frac{(45-5)\times20}{2}

consumer surplus = 400

7 0
3 years ago
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