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sineoko [7]
3 years ago
6

Refer to Exhibit 3-8. A price of $5 will result in a ___________________ in this market which will cause the price of the produc

t to gravitate _______________.
Business
1 answer:
zlopas [31]3 years ago
5 0

Complete diagram of Exhibit 3-8 is attached below

We have that the blanks are Shortage and Upward giving the answer to be

A price of $5 will result Shortage in a in this market which will cause the price of the product to gravitate Upward

Referring to Exhibit 3.8 we have a Price in dollars to Quantity graph

Price

A price is the  quantity of compensation given by one party to another in return for one unit of goods or services. If the product is a good in the commercial exchange, the price of this product will be called price.

Quantity

Aka amount is a property that can exist as a multitude or magnitude, which illustrate discontinuity and continuity. Quantities can be in terms of Mass,Number or size

Therefore have the Knowledge of Quantity and price

We conclude that

A price of $5 will result Shortage in a in this market which will cause the price of the product to gravitate Upward

For more information on this visit

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A company manufactures 1,200 cylinders per day, each requiring a pressure gauge. The purchase price of the pressure gauge is $3.
Dennis_Churaev [7]

Answer:

Explanation:

Given weekly demand = 1200 units

Number of weeks per year = 45

Annual demand (D) = weekly demand × number of weeks per year = 1200 × 45 = 54,000 units

Ordering cost(C) = $55

Holding cost (H) = 25% of purchase price = 25% of $3.20 = 0.25*$3.20 = $0.8

EOQ = √(2DC/H)  = √[(2 × 54,000 × 55) / 0.8]  = √(5,940,000/0.8)  = √7,425,000  = 2,725 units

Answer is D - 2,725 units

6 0
3 years ago
Read 2 more answers
After its success in Japan, Starbucks worked with local operators, collecting initial fees and then royalties on store revenues
kotykmax [81]

Answer:

Franchising.

Explanation:

Franchise is a license consisting of a contractual arrangement between a parent company (franchiser or franchisor) and another (franchisee), that allows individuals or an organization access to its knowledge, processes, trademarks in order to provide a service.

One of the main advantages of a franchise is that, franchisers such as Starbucks do not require additional capital and development expenses to have their businesses being situated in a foreign market or country, as they only required to issue licenses to franchisors who are interested in being part of their business by paying a fee. For instance, Starbucks could give the authority to an individual or group of people which would enable them to do the same business in another geographical location.

Hence, this type of relationship best describes franchising because Starbucks worked with local operators while collecting initial setup fees and then royalties on store revenues generated by the franchisees as it entered other Asian countries.

7 0
2 years ago
The purpose of the accrual basis of accounting is to:
ololo11 [35]
The accounting method under which revenues<span> are recognized on the income statement when they are earned.</span>
5 0
3 years ago
Bailey Furniture Company has prepared the following flexible budget for April and is in the process of interpreting the variance
Grace [21]

Answer:

See notes below

Explanation:

Rate variance

The rate variance is the  the difference between the standard labor cost of the actual hours paid for and the actual cost.

<em>Possible reasons:</em>

An increase in wage rate

Skilled workers were as against using the unskilled workers planned for

Efficiency variance

Labour efficiency variance is the difference between the actual time taken to achieve a given production output less the standard hours allowed for same multiplied by the standard labour rate

<em>Possible reasons:</em>

The use of skilled workers who worked faster than the unskilled workers planed for

The workers were trained making them more efficient in saving time

3 0
3 years ago
Define incentive. Provide an example of a financial and a non financial incentive....
Montano1993 [528]

An incentive is a thing that motivates or encourages one to do something.

Financial incentives can include things like bonuses, raises, paid time off, and other things that involve money.

Non-Financial incentives include things like recognition, respect, career development opportunities, retirement planning assistance, improved work environment, etc.

7 0
3 years ago
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