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3 years ago

According to adam smith what happens when the demand for a product decreases

1 answer:

3 0

In a competitive market when the demand decreases it is as a result of an increase in price, hence for the demand to increase , there is need to lower the prices and get a suitable price which will maintain an equilibrum

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The following selected transactions were completed during August between Summit Co. and Beartooth Co.: Aug. 1 Summit Co. sold me

ryzh [129]

Answer:

See explanation section

Explanation:

See the following images to get the appropriate answer.

7 0

4 years ago

You could spend four years studying at the world's best university, but you would have to keep your attendance there a secret. O

horrorfan [7]

Answer:

The best future earnings outcome would come from getting the official degree even if you do not attend any classes.

In the labor market, a degree from the world's best university holds great prestige and increases enormously the possibilities of being hired to high-paying jobs. However, you should make sure that you actually take the courses that you are supposed to have learned while "attending".

The other option is worse because while you would easily be able to demonstrate knowledge and competence, few companies would even consider to hire you if you do not hold a degree.

6 0

3 years ago

Myers Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing overhead cos

kozerog [31]

Answer:

Results are below.

Explanation:

Giving the following formula:

Variable overhead:

Indirect labor $1.00

Indirect materials 0.70

Utilities 0.40

Total fixed overhead= 4,000 + 1,200 + 800= $6,000

In the relevant rage, the fixed costs remain constant. Only the variable cost change with production on a total basis.

7,000 Units:

Indirect labor= 1*7,000= 7,000

Indirect materials= 0.70*7,000= 4,900

Utilities= 0.40*7,000= 2,800

Total= 14,700

Total fixed overhead costs= 6,000

Total overhead= $20,700

8,000 Units:

Indirect labor= 1*8,000= 8,000

Indirect materials= 0.70*8,000= 5,600

Utilities= 0.40*8,000= 3,200

Total= 16,800

Total fixed overhead costs= 6,000

Total overhead= $22,800

9,000 Units:

Indirect labor= 1*9,000= 9,000

Indirect materials= 0.70*9,000= 6,300

Utilities= 0.40*9,000= 3,600

Total= 18,900

Total fixed overhead costs= 6,000

Total overhead= $24,900

10,000 Units:

Indirect labor= 1*10,000= 10,000

Indirect materials= 0.70*10,000= 7,000

Utilities= 0.40*10,000= 4,000

Total= 21,000

Total fixed overhead costs= 6,000

Total overhead= $27,000

7 0

3 years ago

Free-market economies have _____ .

motikmotik

Your answer would be A. Free markets tend to see big growths and fights for top dog among companies. Take Apple and Samsung, for example. Economic growth is typically high, and there's quite a bit of freedom for producers and consumers.

8 0

4 years ago

Read 2 more answers

Imagine that you are the head of recruiting for a major airline. You are charged with replacing several department-head position

USPshnik [31]

Recruiting from within the company would mean that the new personnel would be very familiar with the company procedures and also probably know most of the other employees in their office so it would/should be easy for them to be integrated into the company. Also, they would already know the culture of the company which means for example they would know how to approach people in the best way to get their cooperation. Their probable intimate knowledge of the history of the company would also make it easier for them to understand its present functioning. Hiring from outside the company would have the advantage of having someone with a fresh point of view and able to see the co. more objectively and therefore be able to point out things which may be detrimental to its proper functioning. On the positive side, having someone who has had say wide experience with various companies there is more likelihood of them being more innovative about new ways of doing things. This is related to the problem that at least with some big companies, they sometimes think that because they are big and relatively successful, they have nothing to learn from other companies and this is an erroneous idea which may prevent them from optimizing their production.

5 0

3 years ago