The answer is
debit work in process inventory $212,000; credit factory wages payable $212,000.
Answer: demand increased
Explanation: Increased prices tends to result in lower demand, and demand increases generally lead to increased supply. However, a decrease in price results to increase in demand. supply of different products responds to demand differently, with some products' demand being more sensitive to prices than others. In this case at $10, $100,00 worth of flour was sold, a decrease in price to $8 saw an increase in demand with about 15,625 worth of product sold compared to 10,000 when at $ 10 that's an increase of 5,625 in demand.
Answer:
an overall low-cost provider strategy.
Explanation:
Competitive advantage can be defined as conditions, factors or circumstances that allow a business firm (organization) to manufacture finished goods or services better and perhaps cheaper than other (rival) firms in the same industry. Thus, it's responsible for putting a business firm in a superior or more favorable position than rival firms.
This ultimately implies that, a competitive advantage has a significant impact on a business because it increases its level of sales, revenue generation and profit margin when compared to rival firms in the same industry.
A overall low-cost provider strategy is a strategic business model that's typically focused on a broad customer base (segment) while still making profit by providing low-cost goods and services to the customers, as well as underpricing rivals in the same industry.
This ultimately implies that, it is a business strategy that involves lowering the price of goods and services in order to stimulate demand, generate more revenue, draw more customers and gain a competitive advantage over competitors or rivals in the same industry.
Hence, when a company strives to achieve lower overall costs than its rivals in the same industry and appeals to a broad spectrum of customers, it is considered to pursue an overall low-cost provider strategy.
Answer:
$6 billion
Explanation:
Calculation to determine what consumption spending would initially decrease by
Using this formula
Decrease in Consumption spending=MPC * New taxes on household income
Let plug in the formula
Decrease in Consumption spending=0.6*$10 billion
Decrease in Consumption spending=$6 billion
Therefore consumption spending would initially decrease by $6 billion
Question Completion:
Domestic Market for Steel, Alpha
Qs P Qd
60 5 10
40 4 20
30 3 30
20 2 40
10 1 50
Domestic Market for Steel, Beta
Qs P Qd
80 5 20
70 4 30
60 3 40
50 2 50
40 1 60
Answer:
Assuming that Alpha and Beta are the only two nations in the world, at the equilibrium world price:
Beta will export steel and Alpha will import steel.
Explanation:
a) Data and Calculations:
Domestic and World Market for Steel
Alpha Beta World Market
Qs P Qd Qs P Qd Qs P Qd
60 5 10 80 5 20 140 5 30
40 4 20 70 4 30 110 4 50
30 3 30 60 3 40 90 3 70
25 2.50 35 55 2.50 45 80 2.50 80
20 2 40 50 2 50 70 2 90
10 1 50 40 1 60 50 1 110
b) In the world market, equilibrium will occur at a price of $2.50, when the quantity supplied and demanded will be 80. At this equilibrium price of $2.50, Alpha will supply 25 units, and Beta will supply 55 units. Alpha will demand 35 units, and Beta will demand 45 units. This implies that Beta will supply more than its demand for steel, while Alpha will supply less. Therefore, Beta will export steel and Alpha will import steel.
