<em><u>Market demand is the total quantity demanded across all consumers in a market for a given good. Aggregate demand is the total demand for all goods and services in an economy.</u></em>
We are tasked to determine the action of the company when it sold $12,000 worth of their product which is a bicycle including an extended warranty price. It is estimated that extended warranty amount is 2% of the value of the bicycle of these sales will result in warranty work. The company should recognize or acknowledge the warranty expense and liability of expense at every the end of the year.
Equilibrium price will increase and quantity will decrease will be the resulting change in the equilibrium of the chocolate bar market.
The equilibrium charge is the rate at which the amount demanded equals the amount supplied. It's far decided through the intersection of the demand and deliver curves. A surplus exists if the amount of an excellent or carrier provided exceeds the amount demanded on the contemporary charge; it causes downward strain on the charge.
Equilibrium is the nation wherein market supply calls for balance every other, and as a result, costs come to be strong. Typically, an over-supply of goods or services causes expenses to move down, which results in a higher call for—while an underneath-deliver or shortage causes fees to head up resulting in less demand.
Upward shifts inside the supply and demand curves have an effect on the equilibrium rate and amount. If the deliver curve shifts upward, meaning deliver decreases however demand holds constant, the equilibrium rate will increase but the quantity falls.
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Answer:
60.06%
Explanation:
For each of the amounts first of all we get the z values.
For $32,000 z= (Amount - Mean)/Standard deviation
z= (32,000- 40,000)/5,000= -1.6
For $42,000, z= (42,000- 40,000)/5,000
z= 0.4
Using probability tables to find the proportion of commission between 0.4 and -1.6, we will need to add 0.4452 and 0.1554.
This gives 0.6006= 60.06%
So the salesperson earns 60.06% commission between $32,000 and $42,000.
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