Answer:
The correct answer is letter "E": the goods have substitutes.
Explanation:
Dependence is a characteristic of certain goods that because of their importance certain groups of individuals or organizations cannot stop consuming them. People, in general, have a dependence on consumer staples such as food, drugs, and basic household products, for instance.
<em>Dependence is low when the goods have many substitutes since if one of them fails in supply or raises its price to unreasonable levels, individuals will have options from where to choose to replace it.</em>
Answer:
move along upwards
shift out
shift in
Explanation:
A change in price of a good leads to a movement along the supply curve and not a shift of the supply curve.
Other factors other than a change in the price of the good would lead to a shift of the supply curve. Such factors include :
- A change in the price of input
- A change in the number of suppliers
- Government regulations
When the price of corn increases, the quantity supplied of corn increases. this is in line with the law of supply.
according to the law of supply, the higher the price, the higher the quantity supplied and the lower the price, the lower the quantity supplied.
This would lead to a movement up along the supply curve
If the price of seed which is an input to corn decreases, it becomes cheaper to produce corn. As a result, the supply of corn would increase. this would lead to an outward shift of the supply curve.
If the number of grocery stores decreases, there would be a reduction in supply. As a result, the supply curve would shift inwards
Answer:
Traditional Checking account
Explanation:
I did the test and got it right
Answer:
Please see attached solution
Explanation:
a. Total manufacturing overhead costs allocated $356,400
b. Variable manufacturing overhead spending variance $40,500U
c. Fixed manufacturing overhead spending variance $17,600U
d. Variable manufacturing overhead efficiency variance $19,500F
e. Production volume variance $39,200F
Please find attached detailed solution to the above questions
