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3 years ago

Read the graph. What is the equilibrium price?

Business

1 answer:

Arisa [49]3 years ago

5 0

Answer:

$1.00

Explanation:

The equilibrium price is the prevailing market price represented by the intersection of the demand and supply curve. At the equilibrium price, the quantity demanded and quantity supplied match. It means that there are no shortages or excesses in demand or supply at the equilibrium price.

From the graph, $1 is the equilibrium price. It is the intersection of demand and supply curves.

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VWhat is a commodity? A. Something that producers are unable to sell to consumers B. A resource that is available in unlimited q

sdas [7]

The definition of commodity is D. Some examples are gold, silver and copper.

4 0

3 years ago

Read 2 more answers

Thomas Kratzer is the purchasing manager for the headquarters of a large insurance company chain with a central inventory operat

Cerrena [4.2K]

Answer:

a. 208.57 units

b. 104.29 units

Explanation:

a. The computation of the economic order quantity is shown below:

$= \sqrt{\frac{2\times \text{Annual demand}\times \text{Ordering cost}}{\text{Carrying cost}}}$

$= \sqrt{\frac{2\times \text{6,000}\times \text{\$29}}{\text{\$8}}}$

= 208.57 units

b. And, the average inventory is

= Economic order quantity ÷ 2

= 208.57 units ÷ 2

= 104.29 units

We simply applied the above formulas for calculation of the economic order quantity and the average inventory and the same is shown above

5 0

3 years ago

Phillip Witt, president of Witt Input Devices, wishes to create a portfolio of local suppliers for his new line of keyboards.

kirill115 [55]

Answer:

Based on the EMV value, the best choice is to use Two suppliers

Explanation:

Is necessary to consider different amount of suppliers and evaluate the cost. We will choose the number of suppliers which offers a lower cost.

EMV1 = cost of shutdown*super event risk + cost of shutdown*unique event risk + cost of managing supplier = 480000*.02 + 480000*0.05+16000 = 9600 + 24000 + 16000 = $ 49600

EMV2 = cost of shutdown*super event risk + cost of shutdown*unique event risk of each supplier*unique event risk of each supplier + cost of managing 2 suppliers = 480000*.02 + 480000*0.05*.05+16000*2 = 9600 + 1200 + 16000*2 = $ 42800

EMV3 = cost of shutdown*super event risk + cost of managing 3 suppliers = 480000*.02 + 480000*0.05*.05+16000*2 = 9600 + 16000*3 = $ 57600

Based on the EMV value, the best choice is to use Two suppliers

6 0

3 years ago

Buyers and sellers in a competitive market that must accept the price that the market determined.

taurus [48]

Answer:

price takers

Explanation:

The buyers and sellers that just accept the prices are called price takers-

6 0

3 years ago

Giddens Company adopted the dollar-value LIFO inventory method on December 31, Year 1. On December 31, Year 1, Giddens' inve

blondinia [14]

Answer:

The value of inventory at Dollar value LIFO is $510,000

Explanation:

dollar-value LIFO method

This is one of the techniques use to integrate inventory items into pool and then valuation is applied on pool rater than on individual item

To calculate the dollar value of ending inventory

we must

Determine value of ending inventory

Determine the difference between ending inventory and beginning inventory at the price of previous year

Determine the difference between ending inventory and beginning inventory at the current price

Add beginning inventory and difference at the current price to get the value of ending inventory on the basis of dollar value LIFO method

The information related to inventory of the company for the current year is given as follows

Beginning inventory is $400,000

Base price index is 100

Ending inventory at current price index is $550,000

Current price index is 110

INVENTORY VALUE AT DOLLAR VALUE LIFO IS CALCULATED AS FOLLOWS

Ending inventory value at base price index = $ $550,000\times\frac{100}{110}$

= $500,000

The increase in inventory at base price index is $500,000 - $400,000

= $100,000

The increase in inventory at current price index is $100,000 × $\frac{110}{100}$

= $110,000

Calculate inventory at end

inventory at end = inventory at the beginning + increase in inventory at current price

$400,000+$110,000

= $510,000

Therefore, value of inventory at Dollar value LIFO is $510,000

4 0

4 years ago