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bija089 [108]
3 years ago
10

Suppose the demand function​ (D) for golf clubs​ is: Qequals=180180minus−0.500.50​P, where P is the price paid by consumers in d

ollars per club and Q is the quantity demanded in thousands. Suppose the supply curve​ (S) for golf clubs is estimated to​ be: Qequals=2.002.00P. Calculate the equilibrium price for golf clubs and the equilibrium quantity sold. The equilibrium price is ​$7272 per club ​(Enter your response as an​ integer.)​, and the equilibrium quantity is 144144 thousand clubs ​(Enter your response as an integer.​) Suppose instead that golf club producers agree to charge a price of ​$5252 per club. This would result in a shortage of 1010 thousand clubs ​(Enter your response as an integer.​)
Business
1 answer:
Lilit [14]3 years ago
6 0

Answer:

Explanation:

In demand and supply theory, equilibrium price and quantity is established where both these curves intersect, like when seen in a graph shown below:

So as you can see, the point of equilibrium is at the intersection of D and S.

From this point of we, mathematically, a this point D= S. So for finding out what the price and quantity at this ambit exists., you have to equate the demand and simply functions to calculate the equilibrium values. Since D S, we have

240 - 1.50P = 1.00P

<u><em>NOTE: Since Pm not sure whether 1.00P is actually 100P or simply 1.00P, I use the former verbal. If its 100P, you can always use it after I tell you the full method_  </em></u>

240 =1.5P\\ 160 = P

There you have it the equilibrium price. Substitute this value into any one of the above 000110115 50 to get the equilibrium quantity at this price.

There you have it, the equilibrium price. Substitute this Value into any one of the above functions so to get the equilibrium quantity at this price.

Q = 240 - 1.00P \\Q =240 -1.00(160) \\Q= 240 - (160) \\Q = 160

And there you haws it the equilibrium quantity_ Th., 0. point, equilibrium price and numbly scan to be the same.

Now let's assume the price of golf clubs rode up to 5160 from 1140. Substitute this value to any of the functions above like we already did so and out Ox new quantity.

Q= 240 — 0.50( 140)

Q = 170

Thus, quantity demanded will reduce from 160 thousand clubs to I70 thousand clubs. This is pretty much understandable since the supply curve moved to the left but demand remained constant thus increasing the price but decreasing the quantity.

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Barlow Company's Accounts Payable balance at December 31, 2008, was P1,800,000 before considering the following transactions: •
mrs_skeptik [129]

Answer: The answer is 1950000

Explanation:

✓ Goods in transit on December 31, 2008:

Goods amounting to 100000 will be added into purchases of the year-end because they have already been sold as risk and rewards have been transferred to the Barlow that is goods have been physically dispatched to the Barlow. Hence this will increase accounts payable by 100000.

✓Goods in transit lost:

These words will also be included in the purchases and accordingly in the accounts payable irrespective of the fact that these have been destroyed. These goods were dispatched to the Barlow and therefore risk and rewards also been transferred hence purchase is done from Barlow's perspective.

So:

Total accounts payables are as under

Opening balance: 180000

Goods in transit reached next year:100000

Goods in transit lost:50000

Total: 1950000

4 0
3 years ago
Calip Corporation, a merchandising company, reported the following results for October: Sales $427,000 Cost of goods sold (all v
nekit [7.7K]

Answer: $222,800

Explanation:

Given that,

Sales = $427,000

Cost of goods sold (all variable) = $173,400

Total variable selling expense = $21,200

Total fixed selling expense = $18,900

Total variable administrative expense = $9,600

Total fixed administrative expense = $36,300

Variable expenses:

= Cost of goods sold + Variable selling expense + Variable administrative expense

= $173,400 + $21,200 + $9,600

= $204,200

Contribution margin = Sales - Variable expenses

                                  = $427,000 - $204,200  

                                 = $222,800

5 0
3 years ago
Isabelle, customer relations manager at future tools, inc., must inform her clients of a 25 percent price increase for all servi
Art [367]
In doing so, she should be sure to emphasize clients' options for saving money, such as bundling services or choosing less <span>comprehensive plans.
Telling this options will reduce the chance of that customer to stop using the service and move out to another competitor. Providing saving money options will give a reward for customers who are loyal to the company and make them feel valued.</span>
7 0
3 years ago
What is a market that runs most efficiently when one large firm supplies all of the output referred to as?
stealth61 [152]

Answer:

a natural monopoly

Explanation:

A monopoly is a market structure which is typically characterized by a single-seller (one seller) who sells a unique product in the market by dominance. This ultimately implies that, it is a market structure wherein the seller has no competitor because he is solely responsible for the sale of unique products without close substitutes.

A monopolist refers to any individual that deals with the sales of unique products in a monopolistic market.

On a related note, a natural monopoly is a market that runs most efficiently when all of the output is supplied by one large business firm. Thus, a business firm is considered to be a natural monopoly if it's capable of producing the total output of the market at a lower cost than two or more business firms could.

Some examples of natural monopoly are the United States Postal Service, electricity grid, water supply, gas network, sewer services, energy distributors, railway service, etc.

7 0
3 years ago
4. What is one thing you can do to help remember a new business contact? Write
Zanzabum

Answer:

Explanation:

c:what type of business the person is in

that is the only logical answer lol

hope it helps

3 0
3 years ago
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