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skelet666 [1.2K]
3 years ago
13

There will be a higher equilibrium price and lower quantity if _____.

Business
1 answer:
iragen [17]3 years ago
4 0

Answer:

Supply decreases

Explanation:

Equilibrium is a balanced scenario where demand matches supply. At equilibrium, both sellers and buyers are happy with the current price. The market has no excess demand or supply or demand.

A decrease in supply while demand stays constant results in many customers competing for the few products in the market. There will be scarcity because the supply cannot satisfy demand. The supply curve shifts outwards or to the right resulting in a new and higher equilibrium point. The price will increase while the quantity supplied declines.

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EA13.
almond37 [142]

Answer:

$423,000

Explanation:

Initial accounts payable added to any purchases made during the period must equal ending accounts payable plus cash payments. Therefore, the amount of budgeted cash payments is:

\$95,000 + \$420,000 = \$92,000 + budgeted\ cash\ payments\\budgeted\ cash\ payments = \$423,000

The amount of budgeted cash payments is $423,000.

3 0
3 years ago
The united states often engages in ________, which is the use of government regulations to limit the import of goods and service
Elanso [62]

Every country looks for a ways to protect the interest of her citizens. Hence, in this case, the United States engages in trade policy.

<h3>Trade Policy</h3>

Trade policy is a government's policy regulating international trade. Trade policy is an enbedded term that is used to cater for issues related to international trade. Types and aspects of trade policy include: regionalism, Bilateral free trade and Preferential trade agreements.

Therefore, the correct answer is trade policy.

learn more about trade policy from here: brainly.com/question/15115779

4 0
3 years ago
Flora, who owns and operates garden fresh organic farms, agrees to sell harvesters grocery a minimum quantity of fresh fruits an
Rina8888 [55]
<span>Breached. Explanation: A contract is a legally binding agreement between two parties. Once an agreement is signed between two parties, both parties are subject to terms and conditions written in the agreement. As in the above example, Flora agrees to sell harvesters grocery a minimum quantity of fresh fruits and vegetables every week for three months, that means Flora is subject to the agreement that she will sell that no matter what the future market price will be, whether it increases or decreases. As Flora decides not to deliver the agreed order, it is a violation of terms and conditions of the agreement/contract. So the contract is breached.</span>
7 0
3 years ago
The situation where one person's demand for a good depends on the consumption of the good by others is called a
ehidna [41]

Answer:

Network externality is the correct answer.

Explanation:

7 0
3 years ago
If productivity increases significantly and demand is not very elastic, what is likely to happen?
spayn [35]

Answer:

B. Fewer workers will be needed.

Explanation:

Elastic demand refers to a flexible demand. It is a demand that can increases or decreases due to several factors. If demand is not elastic, it implies it is constant. An increase or decrease in output or price will not affect the quantity demanded.

An increase in productivity means an increase in output per worker. It is the increase in the number of units produced, per hour, per worker. An increase in productivity results in more output in a given period than previously.

If the demand is constant and there is an increase in productivity, only a few workers will be required. The output from the few workers will be high to meet the constant demand.

4 0
3 years ago
Read 2 more answers
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