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il63 [147K]
2 years ago
8

Time Remaining 27 minutes 24 seconds00:27:24Item 18Time Remaining 27 minutes 24 seconds00:27:24A(n) __________ curve shows the r

elationship between the price of a good and the quantity of that good people are willing and able to buy in a given time period.
Business
1 answer:
Elis [28]2 years ago
6 0

Answer:

the answer is a demand curve

Explanation:

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Suppose the market for gourmet chocolate is in long-run equilibrium, and an economic downturn has reduced consumer discretionary
VashaNatasha [74]

Answer:

a. Decrease

b. Decline

c. Exit

d. No change

Explanation:

The market for gourmet chocolate is in the long-run equilibrium, and an economic downturn has caused the consumer disposable income to fall. Chocolate is a normal good, and the chocolate producers have identical cost structures.

a. This decline in the consumer income will reduce the purchasing power of the consumers. As a result, the demand will decrease. The demand curve will move to the left.

b. This leftward shift in the demand curve will cause the price to decline, As the price falls, the profits earned by the producers will decline as well.

c. In the long run, the firms operate at zero economic profits. So a decline in profits imply that the firms are operating at an economic loss. This will cause the loss incurring firms to exit the market.

d. The long run supply curve will remain the same. It is not affected by change in profits, it changes only with change in the state of technology or availability of resources.

8 0
3 years ago
Distribution of benefits and costs
PilotLPTM [1.2K]

Answer:

1) INEFFICIENT As it cost for the society more than the benefit generated.

2) AGAINST Assuming the Senators wants the better for the republic are do not push their own agendas

3) RESOURCES/MONEY/POLITICAL INFLUENCE  for as much as 30 millions

Assuming they want to avoid the cost they will try to move the cost to another strata or reject the law. As they want to cut their cost they will not overexpend above the 30,000,000 from the original law.

4) MOST PROBABLY/HIGH CHANCE As the benefit are focused they will root for the legislation and lobby for it

Explanation:

The question is to think how a rational person who wish to do no harm will impact the political system. It is important to assume participant will work within the framework of the society and not push to destroy to avoid the law or push for the law that benefit.

6 0
3 years ago
Economic efficiency is A. a market outcome in which the marginal benefit to consumers of the last unit produced is equal to its
pickupchik [31]

Answer: Option B

Explanation: Economic efficiency refers to a situation when all the resources that exist in an economy are allocated in such a way that all the individuals and entities in the economy is getting the maximum utility out of them.

In an efficient economy the surplus of both consumer and supplier are maximum and any increase or decrease in resource allocation will only result in harm of the economy.

Hence from the above we can conclude that the correct option is B.  

5 0
3 years ago
Carmelita Inc., has the following information available:​Costs from Beginning Inventory Costs from current ---------------------
pshichka [43]

Answer:

Equivalent units:

Material = 4,840 units

Conversion cost = 4,802 units

Explanation:

FIFO method is based on the concept that is first in first out. That is opening inventory is first completed then the units newly added and then the closing.

Opening inventory of work in process is 100 % complete for materials.

Closing inventory is also 100 % complete to materials thus,

Equivalent units of production for material in current period = Newly added + Closing

= 4,500 units + 340 units = 4,840 units

For conversion cost,

opening goods = 500 which are 60 % already converted so 40 % completed during the period = 500 \times 40% = 200 units

4,500 units started and completed

Closing inventory = 340 which is 30 % complete = 340 \times = 102 units.

Total equivalent units for conversion cost = 200 + 4,500 + 102 = 4,802 units

Equivalent units:

Material = 4,840 units

Conversion cost = 4,802 units

8 0
3 years ago
Suppose economists develop an economic modelLOADING... and find that​ "it works great in​ theory, but it fails in​ practice." Wh
BartSMP [9]

Answer:

B. They should retest the current​ model, as there may have been an error in the testing methods the first time.

Explanation:

If in the studies carried out theoretically it is verified that the model works, that means that at the time of testing to confirm the veracity of the investigation there was an error and that is why it does not work in real cases. therefore a feedback should be made to identify where the faults are and correct.

7 0
3 years ago
Read 2 more answers
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