Answer:
Demand for good x could be higher in year 2 than year 1
Income may have been higher in year 2 than year 1
Explanation:
In the given scenario there was an average price of product as $10. To calculate average cost it is total sales revenue divided by number of units sold.
In year 2 the average price is $23. This means that for each unit sold in year 2 the price was $23 an increase of $13 from year 1.
For this to have happened first there could have been higher income of the consumer in year 2 and they will have more to spend on the product at a higher price.
There will also need to be an increase in the demand for the good this will increase units sold and also price will go up.
Inventory refers to the stock held by the company. An example of inventory could be "Fancy dishes and silverware used at a restaurant".
<h3>What is an inventory?</h3>
Inventory can be defined as the stock of goods or raw materials held by the company for further production or for sales.
Inventory varies from business to business. For example, for a scooter dealer, the scooters available at the store are his inventory.
For a restaurant business, the dishes, bowls, other utensils, tables, oil, and so on are considered as inventory.
Therefore, the correct option is C.
Learn more about inventory here:
brainly.com/question/14184995
The answer is Joint Venture. It is the agreement or the business arrangement of two or more companies that agrees to share resources for a specific purpose without loosing their identities. The companies will share expenses, looses and profit associated with the venture but their other business interest will remain separate.