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
In-s [12.5K]
3 years ago
9

Determine how the equilibrium price and equilibrium quantity in the market for coffee changes if the price of tea, a substitute

for coffee, decreases, and due to better weather, the price of coffee beans also decreases. Equilibrium price Equilibrium quantity
Business
1 answer:
kkurt [141]3 years ago
5 0

Answer:

Equilibrium price = Decreases

Equilibrium quantity = Indeterminate

Explanation:

Here, we suppose that tea and coffee are substitute goods and we know that substitute goods have a positive cross price elasticity of demand.

So, if there is a fall in the price of tea then as a result the demand for coffee decreases which shifts the demand curve of coffee leftwards.

And, there is a fall in the price of coffee beans due to the better weather condition and coffee beans are used as an ingredient for producing coffee.

Hence, there is a fall in the cost of production of coffee which increases the supply of coffee and shifts the supply curve of coffee rightwards.

Therefore, there is a fall in the equilibrium price level of coffee and the effect of these shifts on the equilibrium quantity is indeterminate because that will be dependent upon the magnitude of the shifts of both the curves.

You might be interested in
From the following ledger balances, prepare a trial balance for the Whispering Winds Corp. at June 30, 2022. All account balance
bonufazy [111]

Answer:

Realidades 2 WKBK page 109

Explanation:

Realidades 2 WKBK page 109

5 0
2 years ago
Raphael and Martina are engaged and are planning to travel to Las Vegas during the 2019 Christmas season and get married around
Tanzania [10]

Answer:

It would be better to get marry on 2019 that way they will saved in income taxes $138

Explanation:

We have to compare their two single taxable income

against marry filing jointly:

<u>Martina:</u>

15,000 - 12,200 standard deduction = 2,800

It willbe taxed at 10% = 280

<u>Raphael:</u>

45,000 - 12,200 standard = 32,800

It will be taxed 10% of 9,700 = 970

and 12% above: (32,800-9,700) x 12% = 2,772

total income tax for Raphael: 3,742

Total if married in 2020: 4,022

<u>Jointly:</u>

60,000 - 24,400 = 35,600 taxable income

it will be taxes at 10% for the first 19,400 = 1,940

and at 12% for the above: (35,600 - 19,400) x 12% = 1,944

Total: 3.884‬

Difference:

4,022 - 3,884 = 138

3 0
3 years ago
Effective _______ is when customers can seamlessly search for a fashion brand merchandise on their smartphones, order the mercha
nordsb [41]

Answer:

The answer is: A) omnichannel distribution

Explanation:

Onmichannel distribution is a multichannel approach to sales were customers are provided with a seamless shopping experience by integrating operations between brick and mortar stores and online shopping.

The internet changed our world and made information available anywhere, anytime. So shoppers can now buy something online at 11 PM while lying on their beds and they can decide to get the products sent home or pick them up at a store by themselves.

Companies that aren´t able to offer this type of shopping experience will tend to disappear (i.e. Sears).

3 0
3 years ago
A company is considering the purchase of a new piece of equipment for $117,200. Predicted annual cash inflows from this investme
monitta

Answer:

3.79 years

Explanation:

In the payback, we analyze in how many years the invested amount is recovered. The computation is shown below:

In year 0 = $117,200

In year 1 = $53,000

In year 2 = $21,500

In year 3 = $26,500

In year 4 = $20,500

In year 5 = $23,000

If we sum the first 3 year cash inflows than it would be $101,000

Now we deduct the $101,000 from the $117,200 , so the amount would be $16,200 as if we added the fourth year cash inflow so the total amount exceed to the initial investment. So, we deduct it

And, the next year cash inflow is $20,500

So, the payback period equal to

= 3 years + $16,200 ÷ $20,500

= 3.79 years

In 3.79 years, the invested amount is recovered.  

8 0
3 years ago
Which of the following statements is true of process​ costing? A. It tracks and assigns both period costs and product costs to u
Dahasolnce [82]

Answer:

B) It accumulates product costs by production departments.

Explanation:

Process cost is used to ascertain the cost of a product at all stages of production. Total cost is an addition of all the individual process costs. Usually this is used in companies that produce homogeneous goods.

For example manufacturers for processed foods, and chemicals.

7 0
3 years ago
Other questions:
  • When the market price of a good is above its equilibrium value, and all other determinants are unchanged?
    10·1 answer
  • The first step in the framework for defining and assigning work is _____. a. defining how the work will be accomplished b. final
    8·2 answers
  • Last year coral gables corp had $410,000 of assets, $403,000 of sales, $28,250 of net income, and a total debt ratio of 39%. The
    10·1 answer
  • 4. Which profession helps to make certain the workplace is safe? What do people in this profession do?
    12·2 answers
  • A major accounting contribution to the managerial decision-making process in evaluating possible courses of action is to a. assi
    10·1 answer
  • Book value per share may not approximate market value per share because:
    12·1 answer
  • Nancy, an employee at MegaWorks Corp., has been on the job for only a week. She needs to ask the accountant some questions, but
    9·1 answer
  • What’s the answer???
    11·1 answer
  • HELP PLEASE<br><br> 20 points :)
    5·2 answers
  • What is good about having a credit card? what is bad?​
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!