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Goryan [66]
3 years ago
10

The widget market is competitive and includes no transaction costs. Five suppliers are willing to sell one widget at the followi

ng prices: $20, $12, $8, $4, and $2 (one seller at each price). Five buyers are willing to buy one widget at the following prices: $8, $12, $20, $32, and $44 (one buyer at each price).
For each price shown in the following table, use the given information to enter the quantity demanded and quantity supplied.
Price Quantity Demanded Quantity Supplied
($ per widget) (widgets) (widgets)
$2
$4
$8
$12
$20
$32
$44
In this market, the equilibrium price will beper widget, and the equilibrium quantity will be (0 or 5 or 2 or 1 or 3 or 4) widgets.
Business
1 answer:
kobusy [5.1K]3 years ago
6 0

Answer:

Price            Quantity Demanded            Quantity Supplied

$2                        5                                            1

$4                        5                                            2

$8                        5                                            3

<u>$12                       4                                            4</u>

$20                      3                                            5

$32                      2                                            5

$44                      1                                             5

the equilibrium price is $12 with 4 units demanded and supplied

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NeTakaya

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2 years ago
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HACTEHA [7]

Answer: True

Explanation:

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3 0
3 years ago
The direct materials price variance is calculated asA) the difference in Actual Quantities (AQ) multiplied by the Actual Price (
Pachacha [2.7K]

Answer:

C) the difference in prices of the Actual Quantity Purchased (AQP) and the Actual Price (AP) multiplied by the Actual Quantity Purchased (AQP) and the Standard Price (SP) of the input purchased.

Explanation:

Direct Material Price Variance = (Actual Price - Standard Price) \times Actual Quantity

Opening the brackets we have

Actual Price \times Actual Quantity - Standard Price \times Actual Quantity

therefore, from the options provided option C) is correct as Direct Material Price Variance is difference in Actual Cost and Standard Cost of Actual Units

Final Answer

C) the difference in prices of the Actual Quantity Purchased (AQP) and the Actual Price (AP) multiplied by the Actual Quantity Purchased (AQP) and the Standard Price (SP) of the input purchased.

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