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Juliette [100K]
2 years ago
8

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

Business
1 answer:
alisha [4.7K]2 years ago
5 0

Answer:

D

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

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Rhett corporation manufactures and sells dress shirts. each shirt (unit) requires 3 yards of cloth. selected data from rhett's m
marissa [1.9K]

Rhett corporation's  Plan on budgeted purchasing in may is 97,600 yards

Explanation:

Opening inventory of May = Closing inventory of April = 2100 yards

Budgeted production of May = 32,000 units

Closing inventory of May  = 2800 yards

Required inventory for producing 32,000 units

= 32,000 × 3 yards (per unit production of shirt) = 96,000 yards

 Plan on purchasing in may

 = Total yards needed - opening inventory + closing inventory

 = 96,000 - 2100 + 2800 = 97,600 yards

= 96,000 - 2100 + 2800 = 97,600 yards

4 0
2 years ago
Consider the following two goods: beer and hamburgers. The slope of the consumer’s budget constraint is measured by the
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Answer:

D. relative price of beer and hamburgers

5 0
3 years ago
Marathon Company has 10,000 units of its product that were produced last year at a total cost of $150,000. The units were damage
V125BC [204]

Answer: Marathon should repair the units since an income of $12000 will be gotten.

Explanation:

Based on the information given, the following can be deduced:

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Revenue if sold without repair = 10000 × $2 = $20000

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Cost to repair = $18000

Incremental be Income = $30000 - $18000 = $12000

Therefore, Marathon should repair the units since an income of $12000 will be gotten.

8 0
2 years ago
Which of the following documents is not often used for inventory control?
podryga [215]
The answer is Sales receipt
5 0
1 year ago
Is it possible to be admitted to Minnesota Bar Association without taking the test over? Have practiced law in Colorado for 0ne
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Rules for Admission to the Bar

The Rules for Admission to the Bar have been updated as of July 1, 2017. A complete listing of rules can be downloaded in PDF format. Or, browse Rules by section using the links below.

1. Purpose
2. Definitions and Due Date Provisions
3. State Board of Law Examiners
4. General Requirements for Admission
5. Standards for Admission
6. Admission by Examination
7. Admission Without Examination
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10. Admission by House Counsel License
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17. Appeal to the Supreme Court
18. Reapplication
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6 0
2 years ago
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