Answer:
The number of ounces started and completed during the period is <u>42,000 ounces</u>.
Explanation:
The number of ounces started and completed during the period can be computed by simply deducting the beginning work in process from the number of ounces completed.
Since we have the following from the question:
Number of ounces completed by Filling = 46,000 ounces
Beginning work in process = 4,000 ounces
Therefore, we have:
Number of ounces started and completed = Number of ounces completed by Filling - Beginning work in process = 46,000 ounces - 4,000 ounces = 42,000 ounces
Therefore, the number of ounces started and completed during the period is <u>42,000 ounces</u>.
The equilibrium price is the only price where the desires of consumers and the desires of producers agree—that is, where the amount of the product that consumers want to buy (quantity demanded) is equal to the amount producers want to sell (quantity supplied).
When two lines on a diagram cross, this intersection usually means something. On a graph, the point where the supply curve (S) and the demand curve (D) intersect is the equilibrium.
What Is a Demand Schedule?
In economics, a demand schedule is a table that shows the quantity demanded of a good or service at different price levels. A demand schedule can be graphed as a continuous demand curve on a chart where the Y-axis represents price and the X-axis represents quantity.
An example from the market for gasoline can be shown in the form of a table or a graph. A table that shows the quantity demanded at each price, such as Table 1, is called a demand schedule.
Price (per gallon) Quantity Demanded (millions of gallons)
$1.00 800
$1.20 700
$1.40 600
$1.60 550
$1.80 500
$2.00 460
$2.20 420
Table 1. Price and Quantity Demanded of Gasoline
Supply schedule
again using the market for gasoline as an example. Like demand, supply can be illustrated using a table or a graph. A supply schedule is a table, like Table 2, that shows the quantity supplied at a range of different prices. Again, price is measured in dollars per gallon of gasoline and quantity supplied is measured in millions of gallons.
Price (per gallon) Quantity Supplied (millions of gallons)
$1.00 500
$1.20 550
$1.40 600
$1.60 640
$1.80 680
$2.00 700
$2.20 720
Table 2. Price and Supply of Gasoline
Equilibrium price
gallon) Quantity demanded (millions of gallons) Quantity supplied (millions of gallons)
$1.00 800 500
$1.20 700 550
$1.40 600 600
$1.60 550 640
$1.80 500 680
$2.00 460 700
$2.20 420 720
Table 3. Price, Quantity Demanded, and Quantity Supplied
Because the graphs for demand and supply curves both have price on the vertical axis and quantity on the horizontal axis, the demand curve and supply curve for a particular good or service can appear on the same graph. Together, demand and supply determine the price and the quantity that will be bought and sold in a market.
The equilibrium price is the only price where the plans of consumers and the plans of producers agree—that is, where the amount of the product consumers want to buy (quantity demanded) is equal to the amount producers want to sell (quantity supplied). This common quantity is called the equilibrium quantity. At any other price, the quantity demanded does not equal the quantity supplied, so the market is not in equilibrium at that price.
In Figure 3, the equilibrium price is $1.40 per gallon of gasoline and the equilibrium quantity is 600 million gallons. If you had only the demand and supply schedules, and not the graph, you could find the equilibrium by looking for the price level on the tables where the quantity demanded and the quantity supplied are equal.
The word “equilibrium” means “balance.” If a market is at its equilibrium price and quantity, then it has no reason to move away from that point. However, if a market is not at equilibrium, then economic pressures arise to move the market toward the equilibrium price and the equilibrium quantity.
Imagine, for example, that the price of a gallon of gasoline was above the equilibrium price—that is, instead of $1.40 per gallon, the price is $1.80 per gallon. This above-equilibrium price is illustrated by the dashed horizontal line at the price of $1.80 in Figure 3. At this higher price, the quantity demanded drops from 600 to 500. This decline in quantity reflects how consumers react to the higher price by finding ways to use less gasoline.
Moreover, at this higher price of $1.80, the quantity of gasoline supplied rises from the 600 to 680, as the higher price makes it more profitable for gasoline producers to expand their output. Now, consider how quantity demanded and quantity supplied are related at this above-equilibrium price. Quantity demanded has fallen to 500 gallons, while quantity supplied has risen to 680 gallons. In fact, at any above-equilibrium price, the quantity supplied exceeds the quantity demanded.
Answer:
$0, income statement s not affected.
Explanation:
The purchase and resale of treasury stock does not affect the income statement. When a company's treasury stock is resold, additional paid-in capital increases (if the stock were sold at a price above cost) or decreases (if the stock were sold at a price below cost).
Answer:
A. population sizes, income levels and cultural influences, the current state of the infrastructure and distribution and retail networks available.
Explanation:
The reason is that the foreign markets are affected by the cultural differences for example if US clothing brand enters Suadia Arabia then it can not sell its brands here because in the Suadia Arabian culture girls wear full sleeves and are not skin tight fits. This means that the culture have an influence over the foreign markets. Likewise the income level tells about how much the customer can spend on luxury items, population of customers available is also an attractive part that the investors see to move in the markets. The infrastructure of a country and the regional importance of the state are also the motivators for the foreign companies to move in to the market.
These factors are the ecosystem of the country that gives insight of the market size and market growth of a particular market.
Answer:
The Price of Cocaine would rise drastically
Explanation:
If U.S Drugs Enforcement Agency impose higher restrictions in an effort to control illegal import of cocaine into the United States, this would directly impact the market for illegal drugs in the following ways:
- Since more restrictions get imposed, the procurement cost of cocaine alongside the risk associated with it in the form of higher penalties and prosecution, both will rise.
- The supply of cocaine would shrink in the market.
- The above two outcomes would result into the procurers and peddlers demanding much greater price for the same quantity of cocaine so as to compensate for the higher risk assumed and higher procurement costs associated.
Thus, price of cocaine will rise drastically as an outcome of such a move.
