#1 goal-setting #2 decision-making
The equilibrium price is $0.5 while the equilibrium quantity is 8.5
From the Demand data that we have in this question,
Slope = 3
Intercept = 10
The demand equation
D = -3p + 10
D = 10 - 3p
The supply data
Slope = 5
Intercept = 6
Supply equation
S = 6 + 5p
D = S
This is because at equilibrium, <u>supply = demand</u>
Therefore,
10-3P = 6+5P
collect like terms
10-6 = 3p+5p
4 = 8p
Divide through by 8
Equilibrium price = $0.5
The equilibrium quantity
D = 10 - 3*0.5
= 10-1.5
= 8.5
Therefore from the calculation, the equilibrium price is $0.5 and the equilibrium quantity is 8.5
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Answer:
The government agency is providing basic and/or essential services that further deepen the interests of members of the public
Explanation:
The assertion that a firm with a monopoly power loses it freedom of contract is very true. Monopolies by its realities come with features that ultimately cater for the interests of the firm, instead of the consumers. One of these is charging an astronomical high price on a particular item of commodity, and not taking cognizance of the purchasing power of the public. A firm could to this, and ultimately get away because its the only delivering such services - the one with the enormous monopoly power. Here, there is no stiff competition among goods that may offer liberty of choices to ordinary consumers.
To mitigate these numerous power of monopolies, governmental body has been giving the power to regulate and maintain an oversight functions. They now determine the provisions of contracts. The main objective of government agency, thus, is to ensure a firm with a monopoly power considers the basic and essential interests of the members of the public - the end users. Here, members of the public are insulated from unnecesary exploitation by the monopolies.
Answer: Not required to be accounted for by the short-cut method if using IFRS.
Explanation:
A Short term Lease is one where a person or entity is granted the legal use of a space for a small period of time which is a year or less.
In calculating this, the Sixteenth International Financial Reporting Standards, IFRS 16, states that a Short Term lease may be charged directly to a Profit and Loss account.
It does not approve the use of the Shortcut method which is a qualitative measure of analysis that is ONLY approved under the US Accounting system (GAAP) and even then is not widely used.
Answer:
This question is incomplete, the options are missing. The options are the following:
A) The old price times the change in quantity.
B) The old price times the new quantity.
C) The new price times the change in quantity.
D) The old quantity times the change in price.
And the correct answer is the option D: The old quantity times the change in price.
Explanation:
To begin with, the name of <em>"Price Effect"</em> refers to a concept known in economics as the situation where a consumer is affected by the change in the price that a good he plans to buy staying everything else constant. This effect is quantifiable as the old quantity times the change in price when we see the representation in a graphic due to the fact that when the demand curve moves the new position will be established by that new price that have affected the consumer given the same old quantity.
