What happens to price when the cost of resources rise or fall?

1 answer:

8 0

Price: The value of goods and services that consumers need to pay in order to get it

Cost: The money needed to manufacture a good

So, if the manufacturing costs increase, the Yota expenditure is also likely to increase. As producers want to maintain or even increase profit margins to satisfy shareholders, the price they set for consumers are also likely to increase.

On the other hand, if there is a decrease in cost of resources, the producer is likely to produce more at every price level. Therefore, lowering the price. It is the law of supply.

You might be interested in

If your economics class were graded on a curve and everyone agrees to study only half as much, everyone would get the same grade

34kurt

STUDY!!!!!!!!!!!!!!!!!!!

6 0

3 years ago

The marketing manager at Home Depot works with Hunt Advertising to coordinate all promotional messages for a product or a servic

nlexa [21]

Answer:

The answer is "Choice d"

Explanation:

The Advertising Mix is the integration of publicity, personal selling, advertising, and marketing. To maintain a sustainable mix of those promotional resources, advertisers need to look only at the following questions. It really is the company's promotional software. With the assistance of the marketing manager and a 3rd parties advertiser, they sell the offering.

7 0

3 years ago

During 2020 the DLD Company had a net income of $85,000. In addition, selected accounts showed the following changes: Accounts R

zmey [24]

Answer:

$84,500

Explanation:

Data provided as per the question

Net income = $85,000

Depreciation expenses = $1,500

Accounts receivables = $3,000

Increase in accounts payable = $1,000

The computation of amount of cash provided by operating activities is given below:-

Amount of cash provided by operating activities = Net Income + Depreciation expenses - Accounts receivables + Increase in accounts payable

= $85,000 + $1,500 - $3,000 + $1,000

= $84,500

Therefore, for computing the Amount of cash provided by operating activities we simply applied the above formula.

5 0

3 years ago

If a price ceiling is not binding, thena. the equilibrium price is above the price ceiling.b. the equilibrium price is below the

IgorLugansk [536]

B. The equilibrium price is below the price ceiling.

5 0

3 years ago

All of the following statements are correct about management by exception except it

noname [10]

Answer:

<u>means that management has to investigate every budget difference.</u>

Explanation:

Management has an exception as the practice f examining the financial and operational results of a business. Only bringing the issues to the attention of management when substantial differences in budgets or within the expected amount.

The concept assumes that business managers handle cases that derive them from the norms and have the main disadvantage of calculation mistakes that results from a large variety of data and finding errors to be consuming activity.

3 0

3 years ago