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2 years ago

Describe the slope of the supply curve. How does the slope reflect the law of supply?

Business

2 answers:

juin [17]2 years ago

8 0

Answer:

Like the law of demand, the law of supply demonstrates the quantities that will be sold at a certain price. But unlike the law of demand, the supply relationship shows an upward slope. This means that the higher the price, the higher the quantity supplied.

tensa zangetsu [6.8K]2 years ago

6 0

Answer:

The upward slope of the supply curve illustrates the law of supply—that a higher price leads to a higher quantity supplied, and vice versa. The shape of supply curves will vary somewhat according to the product: steeper, flatter, straighter, or more curved.

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Use the adjusted trial balance for Stockton Company to answer the question that follows.

Reil [10]

Answer:

c. $22,058.

Explanation:

7 0

2 years ago

What is the difference between a Chronological Resume and a Skills Resume? How are they similar, and how are they different?

erastovalidia [21]

A chronological resume lists your work experience in order of time, usually starting with the newest job and working your way backward. Skills resume lists the skills you have acquired from each job and groups them together. For instance, "leadership" may be a skill, so you would have a section entitled "Leadership" and then you would list all the leadership skills and tasks you have done.

These are similar because you will still list all your previous work history, skills, accomplishments, etc but the difference is in how you categorize and list them.

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2 years ago

Suppose that Fizzo and Pop Hop are the only two firms that sell orange soda. The following payoff matrix shows the profit (in mi

Serga [27]

Solution :

It is given that Fizzo and Pop Hop sells orange soda. Fizzo advertises about his drinks while Pop Hop does not advertises.

According to the matrix provided we can conclude that :

-- If Fizzo wishes to advertise about his soda drinks, he will earn a profit of 8 million dollar and if Pop Hop do advertises and a 15 million dollar if Pop Hop does not advertises.

-- If Fizzo does not advertise, it will earn profit of about 2 million dollar if Pop Hop advertises and 9 million dollar if Pop Hop does not advertises.

-- When Pop Hop wished to advertise , Fizzo will make a higher profit if he chooses to advertise.

-- When Pop Hop do not advertise, Fizzo will make a higher profit when it chooses to advertise.

And if both the firms acts independently and they start off not advertising, then --- both firms will advertise as both of them will earn highest profits each.

If both the firms collude and both firms start off not advertising, the strategies they will end up is that both the firms will not advertise as the joint profit will be maximized.

3 0

3 years ago

Binder Corporation agreed to build a warehouse for a client at an agreed contract price of $4,000,000. Expected (and actual) cos

Rainbow [258]

Answer:

The correct option is a. 2017: $200,000 2018: $520,000 2019: $240,000.

Explanation:

The formula for cost to cost method is expected or actual cost incurred to date divided by the total cost of the project or contract.

Therefore, we have:

Total cost = Cost in 2017 + Cost in 2018 + Cost in 2019 = $640,000 + $1,600,000 + $800,000 = $3,040,000

Cost in 2017 contribution to total cost = Cost in 2017 / Total cost = $640,000 / $3,040,000 = 0.21

Cost in 2018 contribution to total cost = Cost in 2018 / Total cost = $1,600,000 / $3,040,000 = 0.53

Cost in 2019 contribution to total cost = Cost in 2019 / Total cost = $800,000 / $3,040,000 = 0.26

Revenue in 2017 = Cost in 2017 contribution to total cost * Contract price = 0.21 * $4,000,000 = $840,000

Revenue in 2018 = Cost in 2018 contribution to total cost * Contract price = 0.53 * $4,000,000 = $2,120,000

Revenue in 2019 = Cost in 2019 contribution to total cost * Contract price = 0.26 * $4,000,000 = $1,040,000

Therefore, net income for each year 2017 through 2019 using the cost-to-cost method can be computed as follows:

Net income for year 2017 = Revenue in 2017 - Cost in 2017 = $840,000 - $640,000 = $200,000

Net income for year 2018 = Revenue in 2018 - Cost in 2018 = $2,120,000 - $1,600,000 = $520,000

Net income for year 2019 = Revenue in 2019 - Cost in 2019 = $1,040,000 - $800,000 = $240,000

Therefore, the correct option is a. 2017: $200,000 2018: $520,000 2019: $240,000.

6 0

2 years ago

Read 2 more answers

How are payroll taxes different from personal income taxes?

marta [7]

D) They pay for specific social programs rather than general government activities.

5 0

2 years ago