All categories

3 years ago

Suppose that the price of corn is above its equilibrium price. You would expect to see:________.

Business

1 answer:

alisha [4.7K]3 years ago

5 0

Answer:

Explanation:

If the price of corn is above its equilibrium price, corn becomes more expensive to consumers. As a result, they reduce the quantity demanded of corn. there would be a movement along the demand curve for corn and not a shift of the demand curve.

Quantity supplied would also increase as a result of the high price. The fall in quantity demanded coupled with the rise in quantity supplied would lead to a surplus. Due to the surplus, sellers would reduce price until price falls to equilibrium price

You might be interested in

Companies seeking good PR may host a(n) ________ to communicate new hires, new facilities, or community service projects.

Lynna [10]

Answer:

The correct answer is letter "A": press conference.

Explanation:

Press conferences allow the media to obtain information about different organizations that may be of common interest at the moment. They are also a sign that the company questioned can face the public which enhances the Public Relationships (PR) between that institution and the rest of companies within the industry.

5 0

3 years ago

Choi Company manufactures two skin care lotions, Smooth Skin and Silken Skin, from a joint process. The joint costs incurred are

mafiozo [28]

Answer:

The answer is "205,241"

Explanation:

Its relative value operation:

Smooth skin Seedling Skin Total

A Unit sold $240000 \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ 110000$

selling price per unit $\$ \ 3.10 \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \$ \ 5.10$

Sales value $\$ \ 744,000 \ \ \ \ \ \ \ \ \ \ \ \$ \ 561,000 \ \ \ \ \ \ \ \ \ \ \ \$ \ 1,305,000$

Join its cost allocate $(360000 \times \frac{sales\ value}{1305000})$ $205,241 \ \ \ \ \ \ 154,759 \ \ \ \ \ \ 360,000$

Smooth Skin is assigned the combined costs within each development process by way of the relative cost process 205,241

3 0

2 years ago

The R&D department at Parabola Inc. is developing innovative methods to develop products that would reduce resource wastage.

mihalych1998 [28]

Answer:

b) Lateral Thinking

Explanation:

Lateral thinking is the approach where creative and innovative ways are thought out. In this approach, problem solvers deliberately distance themselves from generic and classic approaches and thus try to come up with brand new ideas and not follow typical thinking patterns.

All the other options can be used to find solutions but they may not necessarily take this innovative approach.

Hope that helps.

6 0

3 years ago

Inside Incorporated was issued a charter on January 15 authorizing the following capital stock: Common stock, $6 par, 100,000 sh

marin [14]

Answer:

$1,114,000 - total equity section

Balance sheet extract

common stock (120,000 units) $720,000

common stock share premium $240,000

preference shares (8 000 units) $80,000

preference share premium $36,000

Profit (net income) <u> $ 38,000</u>

$1,114,000

Explanation:

common stock account (100,000 + 20,000) x $6 par value = $720,000

common stock premium per unit is calculated $18 minus par value of $6 = $12. total premium is 12 x 20,000 units issued= $240,000

Preference shares account = (5000+3000) x $10 = $80,000

preference share premium (22 minus 10) = $12 per unit

total preference shares premium is $12 x 3000 issued units= $36,000

8 0

3 years ago

Phil's Dinor purchased some new equipment two years ago for $32,600. Today, it is selling this equipment for $22,000. What is th

Sergio039 [100]

Answer:

Explanation:

The company will pay taxes for the difference between book value and sale value at disposal:

book value after 2 years:

It will be acquisition less accumulated depreciation, which is the sum of the MACRS depreciation rate for this two years

32,600 (1 - 0.20 - 0.32) = 32,600 x 0.48 = 15,648

sales price: 22,000

taxes: (22,000 - 15,648) x .35

6,352 x 0.35 = 2,223.2

after tax cash flow: 22,000 - 2,223.2 = 19,776.8

3 0

3 years ago