Answer:
When the world price is $9.00 per barrel, imports are 10.25 million barrels per day.
Explanation:
This can be explained as following:
- At the domestic equilibrium, the quantity supplied and demanded were:
- When the world price is $9.00 (P=9), the domestic demanded and supplied quantity were:
- Demand: Qd = 15 - (1/4)x9 = 12.75 million
- Supply: Qs = -2 + (1/2)x9 = 2.5 million
When the domestic supply is 2.5 million barrels per day while the domestic demand is 12.75 million barrels per day, the domestic still lacks:
- 12.75 - 2.5 = 10.25 million barrels per day
So that they need to import 10.25 million barrels per day.
Answer:
Increase by $97,650
Explanation:
Increment Sale $247,500
(450 * $550)
<u>Less Increment cost</u>
Direct materials $90,000
(450 * $200)
Direct labor $36,000
(450 * $80)
Manufacturing overhead $20,250
(450 * $150 * 30%)
Administrative expenses <u>$3,600</u> <u>$149,850</u>
(450 * $80 * 10%)
Profit will increase by <u>$97,650</u>
C the geographical location of a business
Answer:
C. Increase, Decrease
Explanation:
Inventory turnover is increased because there are very low or almost nill Closing inventorya as we divide the cost of goods sold with a lower number. Inventory as a percentage to total asset will be decrease because there will be a lower value ofinventory in the balance sheet. Comparing it with total value of asset tells us the percentage of total asset.