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Nina [5.8K]
3 years ago
11

1. Match the following terms with the options given in below:

Business
1 answer:
Nostrana [21]3 years ago
4 0

Answer:

A- Demand Curve --- A graphical representation of the relationship between the price of a good and the amount of the good that buyers are willing and able to purchase at various prices.

B- Quantity Demanded --- The amount of a good that buyers are willing and able to purchase at a given price

C- Law of Demand --- The claim that, other things being equal, the quantity demanded of a good falls when the price of that good rises.

D- Demand Schedule --- A table showing the relationship between the price of a good and the amount that buyers are willing and able to purchase at various prices

Explanation:

A- The demand curve shows the marginal benefit of a good, that is, how much a consumer is willing to pay to buy a product or service. In normal cases, the demand curve negative and thus inclined downwards. In these cases, demand is price elastic. If, on the other hand, the demand curve is vertical, the same quantity is demanded regardless of price, which makes the product or service completely inelastic.

B- The quantity demanded is the amount of a good that the population wants to buy, and depends on variables that influence the consumer's choice whether or not to purchase a good or service: its price, the price of other substitute or complementary goods, the consumer's income and the individual's taste or preference.

C- In economics, the law of demand is a commonly used theorem, which in its simplest version states that the demand for a normal commodity decreases as its price increases. A good is said to be normal if an increase in income leads to more demand for the good.

D- A demand schedule is a table that explains how demand reacts to a certain product according to the price at which it is offered.

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Answer:

A tax refund is essentially a payment to the taxpayer when the taxpayer pays more tax than they owe.

Explanation:

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3 years ago
1. Explain how 'Returns to Scale' and 'Law of Diminishing Returns' would affect cost in a manufacturing company.​
Solnce55 [7]

Law of diminishing return has a positive relationship with marginal cost

Explanation:

The law of diminishing returns implies that marginal cost will rise as output increases. Eventually, rising marginal cost will lead to a rise in average total cost.

7 0
2 years ago
Ogan Products computes its predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year
Radda [10]

Answer:

Predetermined manufacturing overhead rate= $14.65 per direct labor hour

Explanation:

Giving the following information:

Estimated direct labor hours= 40,000

Estimated fixed overhead= $466,000

Estimated variable overhead rate= $3.00 per direct labor-hour.

<u>To calculate the predetermined manufacturing overhead rate we need to use the following formula:</u>

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= (466,000/40,000) + 3

Predetermined manufacturing overhead rate= $14.65 per direct labor hour

5 0
3 years ago
Sales for the year = $324,882, Net Income for the year = $36,610, Income from equity investments = $8,603, and average Equity du
Andre45 [30]

Answer:

A. 29.6%

Explanation:

Return on Equity is the times of profit a owner can earn on the equity investment in the business. Higher ratio shows the business is more profitable.

As per given data

Net Income =  $36,610

Average Equity = $123650

Return on Equity ( ROE ) = Net Income / Equity Investment

Return on Equity ( ROE ) = $36,610 / $123650

Return on Equity ( ROE ) = 0.296

Return on Equity ( ROE ) = 29.6%

4 0
3 years ago
Why might increasing taxes increasing taxes as a fiscal policy be a more difficult policy than the use of monetary policy to slo
Ratling [72]

Answer:

The legislative process experiences longer delays than monetary policy.

Explanation:

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3 years ago
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