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alexgriva [62]
3 years ago
6

Ceteris paribus, if the corn crop is 15 percent larger this year than it was last year, farmers will have to ________ the price

of corn by ________ to sell the new crop.
Business
1 answer:
Yuki888 [10]3 years ago
7 0

Answer:

Reduce and  more than 15 percent

Explanation:

As Inelastic Demand state that the percentage change in quantity demanded is less than the percentage change in price. Therefore, if the crop is 15 percent higher, farmers will have to reduce the cost of corn by 15 percent to sell the new crop. We know that supply and price share an inverse relationship to reduce sales as supply increases and new crops grow.

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ABC Co. expects to sell 2,200 units, give or take 10 percent. The expected variable cost per unit is $8.43 and the expected fixe
topjm [15]

Answer:

Earning Before Interest and Taxes                                           $3,704

Explanation:

Sales (2,200 * 16.25)                                                                 35,750

Less: Variable Costs (2,200 * 8.43)                                          <u>(18,546)</u>

Contribution Margin                                                                   17,204

Less: Fixed Cost                                                                         (9,500)

         Depreciation Expense                                                      <u>(4,000)</u>

Earning Before Interest and Taxes                                           <u>$3,704</u>

3 0
3 years ago
When the petty cash fund depletes, it is replenished. A journal entry is passed to record this transaction.
Semenov [28]

Answer: Cash/Bank

Explanation:

The fund is moved from cash or Bank to the petty cash.

4 0
3 years ago
The president of the Micro Brewing Corporation asks you, as the company economist, to forecast changes in consumer beer purchase
umka21 [38]

Answer:

It is more profitable to raise the selling price by $2.

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To determine whether the company should raise the selling price, we need to determine the effect on income. <u>The best option is the one with the higher sales revenue.</u>

Sales revenue= selling price * number of units

<u>Current:</u>

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<u>Proposal:</u>

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It is more profitable to raise the selling price by $2.

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