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lukranit [14]
3 years ago
9

Show the change in the market for orange juice that is consistent with the following statement: "When a cold snap hits Florida,

the price of orange juice rises in supermarkets throughout the country."
Business
1 answer:
aleksklad [387]3 years ago
5 0

Answer:

A cold snap hits Florida, as a result crops in Florida get affected by this freezing temperature. This cold temperature in Florida also affects the crops of orange, so there is a reduction in the supply of oranges in the supermarkets. Thus, there is a shortage of oranges in the market.

Therefore, decrease in the supply of oranges will generally lead to higher price of oranges in the markets.

This rise in price of oranges is due to the cold snap which damages the orange crops.

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Bobby Company has fixed costs of $160,000. The unit selling price, variable cost per unit, and contribution margin per unit for
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Answer:

1,500 units; 1,000 units

Explanation:

Break Even Point (in units) = Fixed cost ÷ Contribution margin per unit

Fixed cost = $160,000

Sales Mix = 60% of X + 40% of Y

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So,

Contribution Margin of the Mix:

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Contribution Margin of the Mix per unit:

= (60% × 80) + (40% × 40)

= 48 + 16

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Break Even Point (in units) = Fixed cost ÷ Contribution margin per unit  

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                                            = 2,500 unit

At the Level of break even :

Unit of X at break-even:

= 60% of 2,500

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Unit of Y at break-even:

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3 years ago
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<h3>What is the AS curve?</h3>

The aggregate supply curve describes the amount of real GDP that  the economy supplies at different price levels. The reasoning used to construct the aggregate supply curve is different from the reasoning used to construct the supply curves of individual goods and services. The supply curve for a single good is constructed under the assumption that the prices of production inputs remain unchanged. If the price of good X rises, the unit cost for sellers to supply good X does not change,  so sellers are willing to supply more of good X - so the supply curve for good X shifts upward. However, the aggregate supply curve is determined based on the price level. An increase in the price level increases the price  producers receive for their output and thus increases production.

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