Answer:
D : All options are correct
Explanation:
- The marginal buyer is the essence of demand curve while marginal seller is essence of supply curve.
- @ Q = 500 units, Selling Price is set at SP = $35
- @ Q = 500 units, Buying Price is set at BP = $40
- Since, SP ≠ BP our equilibrium price would be $ 37.5 assuming the price elasticity of demand and supply are equal. In any case the equilibrium price would lie in between [ 35 , 40 ] such that to prevent a shortage of units in near future.
- Moreover, if the seller decides to sell at price $35 then he must sell goods greater than 500 units to reach the equilibrium profits. However, it could also lead to excess of units or surplus.
- We see that from selling the goods at SP = $35 while the buyer is willing to pay BP = $40 for 500 goods, the seller would be under-profiting and would be earning $5*500 = $2,500 less than he would at equilibrium price of $40 and selling units greater than 500. Hence, 500 goods is not an efficient quantity of goods.
Answer:
The answer is "Whenever a court requires him to use the res ipsa loquitur doctrine, he possibly would succeed".
Explanation:
Res ipsa loquitur is also an English common law doctrine which claims in an action for tort, throughout the absence of direct proof on whether any defendant acted, a jury may conclude neglect of the nature of an illness or incident. It is used in circumstances in which the complainant is not presented sufficient proof that the offender is not liable.
The following apply:
1. Better quality of goods and services.
2. Improved customers services.
3. More variety of goods and services.
There are some benefits that customers derived from competition. Parts of the benefits are listed above. Competition encourages businesses to improve the quality of their products and services and place reasonable prices on their products.
Answer:
$2,664
Explanation:
Generally Acceptable Accounting Principles requires that the closing inventory should be valued at lower of cost and Net realizable value.
Product Quantity Total Cost Total Net Realizable Value
Revolvers 13 $126 $155
Spurs 22 $32 $27
Hats 9 $58 $48
Choosing Which one is lower for each product
Product Quantity Rate Total Value
Revolvers 13 $126 $1,638
Spurs 22 $27 $
594
Hats 9 $48 $432
Total Closing Inventory Value = $1,638 + $594 + $432 = $2664
Answer:
B. prospecting
Explanation:
<em>The method that sales people would use to find new customers would be </em><em>prospecting</em><em>.</em>
In sales, prospecting means the identification of potential customers for a particular good/service. It represents the first step in sales process.
<u>After the list of potential customers have been created, the next step would be to find a way of reaching out to these customers in order to create leads which can end up in sales and turns a prospective customer to a paying customer.</u>
