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Tanzania [10]
3 years ago
14

Suppose the United States maintains a price floor for spinach. This policy might decrease revenues for spinach farmers if the: m

ultiple choice supply of spinach is inelastic. supply of spinach is elastic. demand for spinach is inelastic. demand for spinach is elastic.
Business
1 answer:
soldi70 [24.7K]3 years ago
4 0

Answer:

Demand for spinach is elastic.

Explanation:

The price floor, which is maintained by the United States, is the minimum price for selling the goods. This price is set above the equilibrium price, which results in excess supply while demand for the same goods remains constant.

Since the prices for spinach cannot be set lower than the price floor and the policy is decreasing the revenue output for spinach farmers then this probably means that the prices are set too high which has decreased the demand for spinach. This means that the demand for spinach is elastic.

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Suppose two athletes each sign 10-year contracts for $80 million. In one case, we’re told that the $80 million will be paid in 1
marusya05 [52]

Answer:

The athlete with equal installments got the better deal.

Explanation:

Two athletes each sign 10-year contracts for $80 million.

In one case, we’re told that the $80 million will be paid in 10 equal installments.

In the other case, the $80 million will be paid in 10 installments, but the installments will increase by 5 percent per year.

The one with equal installments will get $8 million every year.

But the one with increasing installments will get smaller payments initially as his payments were to be increased by 5% each year.

Though the total value of both the annuities will remain the same.

7 0
3 years ago
Suppose that for 10 bicycles, the total fixed cost is $100 and total variable cost is $300. Then the average fixed cost and aver
Stells [14]

The price one bicycle is $21

Explanation:

because 100÷10=0.1

and the total is 300$

300-100=20

20+0.1=20

answer is 21

7 0
2 years ago
If a department that applies process costing starts the reporting period with 40,000 physical units that were 80% complete with
andriy [413]

Answer:

True

Explanation:

<em>Equivalent units are notional whole units which represent incomplete work and are used to apportion cost between work progress and completed work. These units are determined as follows: </em>

Equivalent units = Degree of work done(%) × units of inventory

Equivalent units

<em>Direct material:</em>

Balance of work = 100-80 = 20%

Equivalent of work to be added = 20% × 40,000 = 8,000

<em>Labour</em>

Balance of work = 100-50= 50%

Equivalent of work to be added =50% × 40,000 = 20,000 units

                                    <em>Equivalent of work to be added(units)</em>

Material                               8000                                  

Labour                               20,000

8 0
2 years ago
Jamie is analyzing the estimated net present value of a project under various conditions by revising the sales quantity, sales p
KonstantinChe [14]

Answer:

C. Scenario Analysis.

Explanation:

As Jamie is analyzing the estimated net present value of a project under various conditions by revising the sales quantity, sales price, and the cost estimates. The type of analysis that Jamie is doing is best described as scenario analysis. Scenario analysis is basically conducted to know to estimate the unfavorable events development in the market and within the firm as well. It is applied to know about the worst possible situation which can happen and how it can effect the market as well as organization.

8 0
3 years ago
What are the two characteristics of a product or service that define quality?
Nata [24]

Answer: Design quality and process quality

Explanation: A product or service is performed through a set of actions, which define whether it is good or bad (quality). Therefore, it can be said that the quality of the product or service, comes from the ability of the organization to respond to the needs and expectations of customers satisfactorily. Designing the quality of the products is the route that the seller follows to satisfy all the needs of the client and the process used for this, which must be thorough to meet the expectations of the customers.

7 0
3 years ago
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