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zhannawk [14.2K]
3 years ago
15

Consider the market for pens. Suppose that increased medical concerns over lead pencils have led schools to steer away from penc

il use in favor of pens. Moreover, the price of plastic, an important input in pen production, has dropped considerably.
On the following graph, labeled Scenario 1, indicate the effect these two events have on the demand for and supply of pens.

True or False: When both the demand and supply curves shift, you can always determine the effect on price and quantity without knowing the magnitude of the shifts.

Business
1 answer:
LiRa [457]3 years ago
4 0
Answer: False

Explanation:
Being able to determine the effect on price would have to be circumstantial
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Widget Inc. manufactures widgets. The company has the capacity to produce​ 100,000 widgets per​ year, but it currently produces
gayaneshka [121]

Answer:

$62,100

Explanation:

Given that,

Sales price per unit = $ 40

Variable costs per​ unit:

Manufacturing = $ 23

Marketing and administrative = $ 8

Total fixed​ costs:

Manufacturing = $ 76,000  

Marketing and administrative = $24,000

Total incremental costs:

= Variable manufacturing + Variable marketing and administrative

= (6,900 × $23) + (6,900 × $8)

= $158,700 + $55,200

= $213,900

Incremental income:

= Incremental revenue - Total incremental costs

= (6,900 × $40) - $213,900

= $276,000 - $213,900

= $62,100

Therefore, the operating income increases by $62,100.

7 0
3 years ago
Producer surplus equals a. Value to buyers - Costs of sellers. b. Amount received by sellers - Costs of sellers. c. Value to buy
aev [14]

Answer:

Amount received by sellers - Costs of sellers. 

Explanation:

Producer surplus is the difference between the price of a good and the cost to sellers. It is the difference between price and the least amount sellers would be willing to sell their products.

Consumer surplus is the difference between the price at which the consumer values the good and the price of the good.

Consumer surplus = Value to buyers - Amount paid by buyers.

I hope my answer helps you

5 0
3 years ago
In general, it is a bad move for a company to produce more of a good or service if, by doing so,a. marginal cost exceeds margina
scoray [572]

Answer:

The correct option here is A) marginal cost exceeds marginal revenue

Explanation:

When a company is producing more goods and services, it becomes a bad move because at this point company's marginal cost starts exceeding the marginal revenue , which means with each additional units a company is producing it is losing profit on that unit, so it is better for a company to produce less and try to find that level of output where its marginal cost and revenue are equal because at that level, company would be able to make optimal profits.

7 0
3 years ago
What language do Bhutan use​
LiRa [457]
Dzongkha is the language Bhutan use
8 0
2 years ago
a buyer has made an earnest money deposit of $6,500 on a house selling for $112,500. a lender has agreed to lend 85 percent of t
Sedbober [7]

The  additional cash must the buyer bring to closing is $14,750

What is the total cash required by the buyer at closing?

The total cash required by the buyer at closing is the buyer's closing costs plus down payment which is 15% of the house selling price.

The down payment required is 15% because the lender has agreed to lend 85% of the asset value as the mortgage, hence, down payment is computed thus:

down payment=15%*$112,500

down payment=$16,875

total cash needed=$16,875+$4,375

total  cash needed=$21,250

additional cash required=total cash needed-cash saved

additional cash required=$21,250-$6,500

additional cash required=$14,750

Find out more about closing costs on:brainly.com/question/18687555

#SPJ1

6 0
1 year ago
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