All categories

3 years ago

What is the law of demand and supply

1 answer:

8 0

Answer:The law of supply and demand is a theory that explains the interaction between the sellers of a resource and the buyers for that resource. The theory defines what effect the relationship between the availability of a particular product and the desire (or demand) for that product has on its price.

Explanation:

You might be interested in

For Fiscal Year 2020, Precision Masters had sales of $42,900, cost of goods sold of $26,800, depreciation expense of $1,900, int

AlladinOne [14]

Answer:

Option (a) is correct.

Explanation:

EBIT:

= Sales - Cost of goods sold - Depreciation expense

= $42,900 - $26,800 - $1,900

= $14,200

Operating cash flow:

= EBIT + Depreciation - Taxes

= $14,200 + $1,900 - [($14,200 - $1,300) × 0.34]

= $16,100 - $4,386

= $11,714

Capital spending:

= Ending net fixed assets - Beginning net fixed assets + depreciation

= $13,900 - $14,300 + $1,900

= $1,500

Additions to NWC:

= Ending NWC - Beginning NWC

= (9,200 - 7,400) - (8,700 - 6,600)

= $1,800 - $2,100

= -$300

Therefore, the cash flow from assets for Fiscal Year 2020 is as follows:

= Operating cash flow - Capital spending - Additions to NWC

= $11,714 - $1,500 - (-$300)

= $10,514

5 0

3 years ago

Consumers in Georgia pay twice as much for avocados as they do for peaches. However, avocados and peaches are equally priced in

Ugo [173]

Answer: Explanation:

The marginal rate of substitution of peaches for avocados is the maximum amount of avocados that a person is willing to give up to obtain one additional peach. When consumers maximize utility, they set their MRS equal to the price ratio, Pp/PA

where ,

P p is the price of a peach and

PA is the price of an avocado.

In Georgia, avocados cost twice as much as peaches, so the price ratio is ½ , but in California, the prices are the same, so the price ratio is 1. Therefore, when consumers are maximizing utility (assuming they buy positive amounts of both goods), the marginal rates of substitution will not be the same for consumers in both states. Consumers in California will have an MRS that is twice as large as consumers in Georgia.

4 0

3 years ago

Which of the following statements best expresses how courts treat legal

liraira [26]

Answer:

B. Legal rules must always be upheld to the letter without exception if law and order are to be maintained.

Explanation:

I only just guessed but I hope this helped u.

5 0

3 years ago

Read 2 more answers

In 2020, Quapau Products introduced a new line of hot water heaters that carry a one-year warranty against manufacturerâs defect

wariber [46]

Answer:

$18,000

Explanation:

The computation of the warranty expense for the year 2021 is shown below:

Estimated warranty expense = Actual Sales × Actual claims percentage

= $450,000 × 4%

= $18,000

We simply multiplied the actual sales with the percentage of the actual claim so that the estimated warranty expense could come and the same is shown above

6 0

3 years ago

After being introduced to a higher-priced washing machine, the customer expresses a desire to purchase a lower-priced item. when

horrorfan [7]

Based on the scenario above, when this happens, the customer is likely to be engaging or to have a traded down. The trading down is being defined as having the quality of the product to be reduced in means of being able for the price to be suited for its consumers.

3 0

3 years ago

What is the law of demand and supply​

What is the law of demand and supply