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Lera25 [3.4K]
3 years ago
9

Say the following 2 events occur at the same time: 1) an increase in the price of milk, an input in the production of cheese; 2)

a decrease in the price of bagels, a complement of cheese. The following 2 events would lead to a(n) _________ in the market price and a(n) __________ in the market quantity of cheese. 1 point indefinite change; indefinite change increase; indefinite change indefinite change; decrease indefinite change; increase decrease; indefinite change
Business
1 answer:
dsp733 years ago
6 0

Answer:

The correct answer is the following combination: Increase; indefinite change.

Explanation:

To begin with, in the microeconomics theory when it comes to the rise of the price of a product the factors of major impact will be the inputs needed in the production of final good. In this particular case, the fact that the price of the milk has increased it will afect directly the price of the cheese in a matter of going up. And that consequently will afect the quantity demanded by going down. However, due to the fact that now the price of the bagels, a complement of the cheese, has gone down then it is indefinite to known what will happen to the quantity demanded of the cheese due to the fact that this last factor will impact it positively. So in the end, the two situations affect the quantity to a matter of indefinite change.

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Answer:

A price Floor

Explanation:

The minimum wage is a price floor. The minimum wage is a price below which you cannot sell labor, and the suppliers of labor exceed the buyers of labor.

3 0
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The first year they were offered, John wanted a tablet computer, but he did not know which one to choose. He waited until there
lbvjy [14]

Answer:

Early Majority

Explanation:

Early Majority -

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They take the time period to get their hands on the new stuff is much longer time in comparison to the early adopters and innovators .

As these people smartly goes through the complete analysis of the product , all the review and wait for the price to get down and buys on the best price .

Hence, from the given scenario of the question ,

The correct answer is Early majority.  

4 0
4 years ago
Determining the magnitude of possible losses from a premature death can be complicated. the best method is the
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4 0
3 years ago
Palmona Co. establishes a $150 petty cash fund on January 1. On January 8, the fund shows $61 in cash along with receipts for th
saveliy_v [14]

Answer:

Palmona Co Journal entries

1.

Jan-01

Dr Petty cash 150

Cr Cash 150

2.

Jan-08

Dr Postage expense 35

Dr Merchandise inventory 14

Dr Delivery expense 16

Dr Miscellaneous expenses 24

Cr Cash 89

3. Jan-08

Dr Postage expense 35

Dr Merchandise inventory 14

Dr Delivery expense 16

Dr Miscellaneous expenses 24

Cash 89

4.

Jan-08

Dr Petty cash 300

(450-150)

Cr Cash 300

Explanation:

1. To establish petty cash fund

2.To record reimbursement

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6 0
3 years ago
A commercial oven with a book value of $67,000 has an estimated remaining 5 year life. A proposal is offered to sell the oven fo
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Answer:

It should replace the equipment

Explanation:

                                         continue replace Differential

Proceeds from sale             -              8,500            8,500

Cost  

purchase                                -           -110,000        -110,000

cost savings (5 years)                           115,000         115,000

Total cost                                 -               5,000           5,000

 

Net                                                    -     13,500          13,500

3 0
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