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antoniya [11.8K]
3 years ago
13

In August 2005, Hurricane Katrina damaged or destroyed oil platforms in the Gulf of Mexico, refineries along the Gulf coast, and

the pipeline infrastructure that transports oil and gas to customers across the eastern United States. The winter of 2006 was unusually cold in many parts of the country. How did these events affect the market (equilibrium) price and quantity for natural gas
Business
1 answer:
creativ13 [48]3 years ago
8 0

Answer:

  • Increased equilibrium market price
  • Decreased equilibrium quantity

Explanation:

As a result of the hurricane, oil platforms and refineries were destroyed. This reduced the amount of natural gas being processed by these facilities. With less natural gas being processed, less gas was being supplied to the country which means that the quantity supplied reduced.

This would shift the supply curve to the left and it would then intersect with the demand curve at a higher equilibrium price. This higher price reflects the relative scarcity of natural gas.

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How should a person cope with situational factor for which there are ethical confident skills?
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3 years ago
Following is a recent BusinessSoftware Corp. press release: REDMOND, Wash.—March 16, 2016 — BusinessSoftware Corp. today announc
yarga [219]

Answer:

       

Explanation:

The journal entries are shown below:  

1. Retained earning A/c Dr $1,598  (9,400 million shares × $0.17 per share)

     To Dividend payable A/c $1,598

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(Being dividend is paid)

3 0
3 years ago
Suppose that the price elasticity of demand for cereal is -0.75 and the crossprice elasticity of demand between cereal and the p
professor190 [17]

Answer: Price of cereals must fall by 12%

Explanation:

A 10% rise in the price of milk will lead to a fall in quantity demanded by =-0.9 * 10= 9%.  

To prevent the demand for cereals from falling by 9%, the price of cereals must fall by

E = \frac{Percentage change in Qd}{Percentage change in price}

Percentage change in price = \frac{Percentage change in Qd}{e}

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8 0
3 years ago
Two acquaintances have approached you about investing in business activities in which each is involved. Simone is seeking $605,
BARSIC [14]

Answer and Explanation:

The computation is shown below:

Return on investment = income ÷ investment

For Simone

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For Riley

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Also, the other factor that should be considered before doing any kind of investment i.e. risk

6 0
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