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3 years ago

Use your notes to explain how prices affect demand.

Business

1 answer:

abruzzese [7]3 years ago

7 0

Answer:

Amount of a product people purchase at various prices. ... There exists an inverse relationship between price and quantity demanded. As the price of a good or service goes up, the number sold (quantity demanded) goes down. As the price of a good or serve goes down, the number sold (quantity demanded) goes up.

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Copper Grill Restaurant Corporation wholesales ovens and ranges to restaurants throughout the Southwest. Copper Grill Restaurant

8_murik_8 [283]

Answer:

150,000 Shares

70$ per share

Explanation:

Stock split at a rate of 3 for 1 means that holder of every 1 share will have total 3 shares after the split (e.g. he will receive additional two shares for each share he owns). Thus Copper Grill Restaurant Corporation's total shares will increase from 50,000 to 150,000 (50,000 * 3).

Per share price will be divided by 3 to arrive at approximate value of per share after the split (210 / 3) = $70 / per share.

6 0

3 years ago

Alliance Company budgets production of 24,000 units in January and 28,000 units in the February. Each finished unit requires 3 p

Eddi Din [679]

Answer:

Total direct material needed in pounds= 101,400 pounds

Explanation:

Giving the following information:

Each finished unit requires 3 pounds of raw material K that costs $3.00 per pound.

Each month's ending raw materials inventory should equal 35% of the following month's budgeted materials.

The January 1 inventory for this material is 25,200 pounds.

Production:

January= 24,000 units

February= 28,000 units

<u>Direct material budget:</u>

Production= 24,000*3= 72,000 pounds

Desired ending inventory= (28,000*0.35)*3= 29,400 pounds

Total direct material needed in pounds= 101,400 pounds

Purchases= production + desired ending inventory - beginning inventory

Purchases= 101,400 - 25,200

Purchases= 76,200 pounds

Direct material purchase cost= 76,200*3= $228,60

3 0

3 years ago

You observe the price of a good rises and the quantity sold decreases. This is the result of

kondor19780726 [428]

Answer:

This is the result of law of demand and elasticity of demand

Explanation:

The law of demand states that, other things remaining equal, the higher the price of a commodity, the lower the quantity demand of that commodity. Also, the observed goods in the question is a normal good because all normal goods obey the law of demand.

In addition, the price elasticity of demand is ELASTIC. This means the good is sensitive to price. A 1% increase in price will lead to a significant decrease in quantity demanded.

Also the income elasticity of demand is negative, meaning an increase income means the quantity demanded will decrease. This usually happens for inferior goods.

All these three points can cause it

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3 years ago

A customer has a broadly diversified stock portfolio with a current market value of $2,500,000. The customer wishes to hedge the

Mars2501 [29]

Answer:

C) buy 100 SPX 2500 Puts

Explanation:

SPX stock is based on the Standard and Poor's stock index, so if the investor is worried about a market decline, if he purchases put options and the marker declines, he/she will actually earn money. Each SPX 2500 contract covers approximately $250,000 of portfolio value, so if the investor purchases 10 put options then the whole portfolio would be covered.

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3 years ago

A home based business is part of what industry

GREYUIT [131]

Answer:

Explanation:

Cottage industry

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3 years ago