1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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.

You might be interested in
Angelina's made two announcements concerning its common stock today. First, the company announced that its next annual dividend
tensa zangetsu [6.8K]

Answer:

  • What is the maximum amount you should pay to purchase a share of Angelina's stock.

    $36,00

Explanation:

The dividend discount model state that the price of a stock should be the result of the Present Value of all of its future dividends, the Gordon growth model indicates that:  

Price per Share = D / (r - g)  = $2,16 / (0,10-0,04) = $36

Where:

D = the estimated value of next year's dividend  

r = The required rate of return

g = the constant growth rate

To this case the value is: $2,16 / (0,10-0,04) = $36

5 0
3 years ago
Paul Hyatt owns and operates DeepClean, a Florida-based company that cleans up mold and mildew in homes and businesses. As the s
aivan3 [116]

Answer:

Paul Hyatt is fully liable for all business debts

Explanation:

Unlimited liability in this scenario, means that Paul Hyatt is fully liable for all business debts. That is because unlimited liability is defined as the full legal responsibility that business owners and partners assume for all business debts, and since Paul Hyatt is a sole proprietor which means that he both owns and runs DeepCleans and there is no legal distinction between him and the business entity, then he is fully liable for debts and profits of DeepClean.

6 0
4 years ago
Cruise Company produces a part that is used in the manufacture of one of its products. The unit manufacturing costs of this​ par
s344n2d4d5 [400]

Answer:

Maximum price= $11.9

Explanation:

Giving the following information:

Assuming a production level of 6,300 ​units:

Direct materials $ 4.20

Direct labor $ 4.30

Variable manufacturing overhead $ 3.40

The fixed overhead costs are unavoidable

Because the fixed overhead costs are unavoidable, we will concentrate on the variable costs.

The maximum price would be the total variable cost:

Total variable cost= 4.2 + 4.3 + 3.4= $11.9

Maximum price= $11.9

4 0
4 years ago
Read 2 more answers
Which of the following is a true statement about the field of manufacturing?
ivann1987 [24]

Out of the above choices, C) manufacturing jobs are expected to decline because of advances in technology. Due to technology advancing in many fields, it is creating a decline for the job because technology, once developed and tested is much cheaper. A, B, and D are incorrect because you can work in the manufacturing field without a college education, the jobs within the manufacturing field vary and can pay more or less than $50,000. There is also workers all over the world who work in manufacturing, not just the immigrant labor force.

6 0
4 years ago
Read 2 more answers
Describe Philosophy of Postmodernism and analyze their key features
Dennis_Churaev [7]

Explanation:

Postmodernism, also spelled post-modernism, in Western philosophy, a late 20th-century movement characterized by broad skepticism, subjectivism, or relativism; a general suspicion of reason; and an acute sensitivity to the role of ideology in asserting and maintaining political and economic power.

Its main characteristics include anti-authoritarianism, or refusal to recognize the authority of any single style or definition of what art should be; and the collapsing of the distinction between high culture and mass or popular culture, and between art and everyday life.

5 0
3 years ago
Other questions:
  • The mars company's new topeka, kansas, manufacturing plant is the first new facility the company has opened in north america in
    7·2 answers
  • When the dollar "falls" compared to other currencies, which group benefits the most?
    8·2 answers
  • The following cost data for the month of May were taken from the records of the Terrence Manufacturing Company: (CIA adapted) De
    14·1 answer
  • What is a legal document that outline all the conditions of the bond?
    8·1 answer
  • You believe that the Non-Stick Gum Factory will pay a dividend of $2 on its common stock next year. Thereafter, you expect divid
    15·1 answer
  • The Gramm-Leach-Bliley Act
    13·1 answer
  • On the day before his presentation, Jamie was advised to.
    10·1 answer
  • I WANT TO THANKS EVERYONE FOR HELPING ME PASS MY QUIZZES
    13·2 answers
  • Legacy issues $660,000 of 5.5%, four-year bonds dated January 1, 2018, that pay interest semiannually on June 30 and December 31
    12·1 answer
  • When would you want to get the lowest interest rate possible?​
    5·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!