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Xelga [282]
3 years ago
12

You, being a supplier of steak dinners, opened your steak house. Assume the market-clearing price is $20 and the market clearing

quantity is 500 for a steak dinner; (however, you do not have this information). You, the owner of the steak diner, decide to price your steak dinners at $15.00. You notice that when you do this you could have sold 650 steak dinners but are willing and able to sell only 400. Draw this situation on a graph. Put all numbers given on your graph.
RequireD:
a. What will happen in this market? Will there be a shortage or a surplus? Show this on your graph. What will happen in this market (assume there are no price controls).
b. A news released proved the inefficiency of hybrid vehicles. However, 2 months ago the number of dealers offering various hybrid models nearly tripled. How will this affect the price of hybrid vehicles?
Business
1 answer:
Shalnov [3]3 years ago
7 0

Answer:

A) Shortage, B) Fall in Price

Explanation:

A] Market is at equilibrium where - downward sloping Market Demand (inversely related to price), & upward sloping Market Supply (directly related to price) - are equal &  these curves intersect each other.

Above condition gives us equilibrium price & quantity.

If market price < equilibrium price, as given case 15 < 20. Then, supply being directly related to price is lesser, demand being inversely related to price is higher. So, there is a situation of excess demand, ie <u>shortage </u>(graphically denoted by distance between demand & supply curve at actual price below equilibrium price)

B] Dealers of hybrid vehicles increase imply increase in supply of these vehicles, rightwards shift in the supply curve. This creates excess supply ie surplus of them. It implies that competition among sellers lead to <u>fall in price </u>of these hybrid vehicles.

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During 2018, Angel Corporation had 900,000 shares of common stock and 50,000 shares of 6% preferred stock outstanding. The prefe
AfilCa [17]

Answer:

$6.5 per share

Explanation:

Given that,

Net income = $6,000,000

Preferred dividend = $150,000

Weighted average number of common shares  = 900,000

Angel's Basic earnings per share:

[Net income - Preferred dividend ] ÷ Weighted average number of common shares

= [$6,000,000 - $150,000] ÷ 900,000

= 5,850,000 ÷ 900,000

= $6.5 per share

4 0
3 years ago
What is Nick causing? Nick has set up his steel factory near a community lake. The waste from his factory is directly thrown in
gregori [183]
<span>Nick is causing pollution specifically water pollution. Since he is contaminating the community lake. This kind of environmental deprivation happens when pollutants are straight or meanderingly discharged into water forms lacking passable treatment to eliminate harmful composites. This can damage the animals existing by the lake, and the people breathing the air.</span>
3 0
3 years ago
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In the treatment of U.S. exports and imports, national income accountants _____. rev: 04_09_2018 Multiple Choice subtract export
pogonyaev

Answer:

The correct answer is: add exports but subtract imports in calculating GDP.

Explanation:

National income refers to the production of goods and services by the residents of a nation within the geographical boundaries of a nation in a given period.

In the calculation of national income, net exports are included. This net export is the difference between exports and imports. In other words, we can say that exports are added and imports are included.

6 0
2 years ago
If the Market Equilibrium Wage Rate is $105.00 and FC = $1500.00: A. The firm Shuts Down and hires no workers and loses $1500.00
BartSMP [9]

Answer: B. The firm hires 45 workers and earns a $1,200.00 Economic Profit

Explanation:

If the Market Equilibrium rate is $105 then the company should hire 45 workers as shown in the table.

If they did that, revenue would be $7,425

Expenses would be wages and fixed costs:

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Economic profit would be:

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6 0
3 years ago
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Artist 52 [7]

Answer:

be a music producer

Explanation:

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