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Harman [31]
3 years ago
11

Suppose that demand decreases and supply decreases. What would you expect to occur in the market for the good? a. Equilibrium pr

ice would increase, but the impact on equilibrium quantity would be ambiguous. b. Equilibrium price would decrease, but the impact on equilibrium quantity would be ambiguous. c. Equilibrium quantity would decrease, but the impact on equilibrium price would be ambiguous. d. Both equilibrium price and equilibrium quantity would increase.
Business
1 answer:
Nikitich [7]3 years ago
4 0

Answer:

c. Equilibrium quantity would decrease, but the impact on equilibrium price would be ambiguous.

Explanation:

When the demand decreases along with the decrease in supply, obviously the equilibrium quantity will also decrease, to match the level of supply and demand.

But the price cannot be fairly estimated as because the supply is decreased the prices shall increase for equilibrium but as the demand has also decreased the prices shall decrease in order to match the equilibrium.

Thus, the price is ambiguous but definitely the quantity shall stand decreased for equilibrium.

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Calculate Payroll An employee earns $44 per hour and 1.5 times that rate for all hours in excess of 40 hours per week. Assume th
Marrrta [24]

Answer: $1750

Explanation:

Given Data

Earnings = $44/ hr

Overtime Earnings = 1.5 times Of $44

= $66

Hours worked during the week = 55 hrs

Social security tax rate = 6.0%

Medicare tax rate = 1.5%

Federal income tax = $633

Therefore:

Gross pay = Normal pay + overtime pay

Normal pay

= $44 * 40 hrs

= $1760

Overtime pay

= $66 * 15 hrs

= $990

Gross pay = $1760 + $990

= $1750

Social security tax

= 0.06 * $2750

= $165

Medicare tax

= 0.015 * $2750

= $41.25

Total tax

= $633 + $41.25 + $165

= $839.25

Net pay

= $2750 - $839.25

= $1910.75

6 0
3 years ago
Why is using money as a medium of exchange preferable to bartering?
Y_Kistochka [10]

Answer:

Money as a medium of exchange is more preferable because of its less cumbersome nature.

Explanation:

Money as a medium of exchange is more suitable because of its less cumbersome nature. Money was invented because of the inefficient nature of the barter system.

Money is easily stored compared to a barter system.

Money as a medium of exchange eliminates the barter system's problem of double coincidence of wants. Barter works when you trade things you own for things you want. If for example you want a bicycle and you own a goat, you have to look for someone who wants a goat and owns a bicycle willing to make an exchange, which can be quite difficult.

Money is an acceptable medium of exchange to all parties which makes it more preferable to bartering.

8 0
3 years ago
Marla would like to collect $225,000 to buy a house in 12 years. She thinks she can save money in a money-market account earning
Ymorist [56]

Answer:

The value of Q = $10,723

Explanation:

Please find attached.

6 0
3 years ago
An entrepreneurial team is a group composed of the entrepreneur plus the firm's banker, cpa, and attorney. the firm's managers.
makvit [3.9K]

Answer:

"An entrepreneurial team is a group composed of the entrepreneur plus the firm's banker, CPA, and attorney."

Explanation:

An entrepreneurial team usually consists of 2 or more people with a great interest in the success and future of a company. The work of this team is interdependent as they pursue common goals for success for the venture. They are usually interested in the financial and other areas of a company and include the entrepreneur, the CPA, attorney, and the organization's banker.

8 0
3 years ago
Crowl Corporation is investigating automating a process by purchasing a machine for $793,800 that would have a 9-year useful lif
Vsevolod [243]

Answer:

Simple rate of return is 5.8%

Therefore option (a) is correct option.

Explanation:

It is given that purchase cost = $793800

Company saving per year = $133000

Yielding = $21200

Annual depreciation = $88200

Annual profit = $133000 - $88200 = $44800

Net investment is equal to = $793800 - $21200 = $772600

Simple rate of return =\frac{44800}{772600}=0.0579

= 5.8%

Therefore simple rate of return is 5.8 %

So option (a) is correct.

6 0
3 years ago
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