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Drupady [299]
3 years ago
15

Suppose that the supply of oil to Pittsburgh, Pennsylvania, is perfectly elastic. If more people move to Pittsburgh because of i

ts great football and hockey teams, what happens to the equilibrium price and quantity of oil in Pittsburgh?

Business
1 answer:
RSB [31]3 years ago
7 0

Answer:

Equilibrium price will remain the same and equilibrium quantity would increase.

Explanation:

  • When supply is perfectly elastic, suppliers are willing to sell any quantity demanded at a given price (in the graphic attached P*).
  • If the population increases, tipically demand of every product would increase (included oil demand).
  • Then, if demand increases (from Demand 0 to Demand 1 in the graph), the equilibrium quantity would increase, but prices remain the same because of supply elasticity.

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Kenji is another investor who currently owns shares of ESolver stock. He would like to place a particular kind of limit order, i
Mars2501 [29]

Answer: Fill or kill order

Explanation:

A fill or kill order is used when an individual or firm wants to either buy or sell a stock and in such cases, the order must be done as quickly as possible in its entirety.

If the order isn't done immediately at the price that has been specified or a price that's more than the specified price, such order is cancelled. Also, for a fill or kill order, partial execution isn't applicable.

4 0
3 years ago
Peter and Ana Teraglia are wealthy entrepreneurs who are very interested in helping children who have been abused. Their goal is
abruzzese [7]

Answer:

The correct answer is letter "B": philanthropy.

Explanation:

Philanthropy is described as the set of uninterested actions people take to help others. Those others are usually individuals in need who are not receiving any help from governmental institutions. Even if philanthropy is related to the act of providing money, it is not that simple. People dedicating their time volunteering to help others without receiving nothing in return are also philanthropists.

3 0
3 years ago
The correct amount of prepaid insurance shown on a company’s December 31, 2021, balance sheet was $1,400. On May 1, 2022, the co
devlian [24]

Answer:

Expense 2022                1500

Explanation:

december 31 2021         1400

december 31 2022 1000

                                 400

 

Pay additional insurance 1100

 

Expense 2022                1500

4 0
4 years ago
By lowering production costs, subsidies help foreign competitors gain export markets. True or False
Luden [163]

Answer:

False

Explanation:

Whenever, there will be reduced production costs, due to any reason in the economy, then the goods will be cheaper and accordingly the sale will be in abundance assuming other factors remain constant.

Thus, due to subsidies the cost to producers will be less and then exporters will not be able to get more share as domestic goods will cost cheaper.

Thus, there will not be any gain to foreign competitors in our domestic markets, as they will not get any share extra rather they will loose as a foreign competitor. In fact goods which are exported will also cost low, and therefore, will gain new customers.

Therefore, above stated statement is false.

5 0
3 years ago
Coronado Corporation acquires a coal mine at a cost of $448,000. Intangible development costs total $112,000. After extraction h
SSSSS [86.1K]

Answer:

Dr Depletion expense 66,640

Cr Accumulated depletion 66,640

Explanation:

Coronado Corporation

Journal entry

Dr Depletion expense 66,640

Cr Accumulated depletion 66,640

Total Cost = $448,000+$112,000 =

$ 560,000

Depletion per ton

= ($560,000-$179,200)/4,480

= 85 per ton

Depletion first year = 784*85 = 66,640

8 0
4 years ago
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