All categories

3 years ago

For a normal good, a decrease in demand is represented as a

Business

1 answer:

Nina [5.8K]3 years ago

7 0

Answer:

C. leftward shift of the demand curve.

Explanation:

A normal good is a good whose demand increases when income increases and falls when income falls.

The demand curve is represented as downward sloping curve. It slopes downward because the higher the price, the lower the quantity demanded and the lower the price, the higher the quanirty demanded.

A fall in demand is represented by a leftward shift of the demand curve. A rise in demand is represented by a rightward shift of the demand curve.

Factors that leads to a leftward shift of the demand curve:

1. Decrease in income

2. Change in taste - if consumers prefer other products

3. Season

4. Fall in price of substitutes

I hope my answer helps you

You might be interested in

The weather station model performs the invaluable function of ____________.

Greeley [361]

Answer:

Option B

Explanation:

In simple words, Models of weather stations are visual representations displaying the weather taking place at a specified monitoring station. The stations design was developed by meteorologists that incorporate a variety of climate components into some kind of small area on satellite images.This model has been of high use to prepare for the natural calamtites in advance but it does not influence the project in any way.

4 0

2 years ago

Gains or losses on cash flow hedges are Group of answer choices ignored completely. recorded in equity, as part of other compreh

Helga [31]

Answer: The correct answer is "recorded in equity recorded in equity, as part of other comprehensive income.".

Explanation: Gains or losses on cash flow hedges are recorded in equity, as part of other comprehensive income.

The gains or losses of a cash flow hedge must be recorded, as part of other comprehensive income, in equity.

7 0

2 years ago

What is cookie consent ?

emmainna [20.7K]

Answer:

A cookie consent banner is the cookie warning that pops up on websites when a user first visits to the site. It's the website banner that declares the cookies and tracking present on a website and gives the users a choice of prior consent before their data is handled.

6 0

2 years ago

Read 2 more answers

Beginning inventory 0

Rama09 [41]

Answer:

a) The unit product cost under absorption costing is $51.

b) Income Statement for May:

Sales Revenue $3,564,000

Cost of goods sold 2,244,000

Gross profit $1,320,000

Selling and admin.

expenses 650,000

Net operating income $670,000

Explanation:

a) Data and Calculations:

Beginning inventory 0

Units produced 49,000

Units sold 44,000

Ending inventory 5,000

Selling price per unit $81

Selling and administrative expenses:

Variable per unit $2

Fixed (total) $562,000

Manufacturing costs:

Direct materials cost per unit $18

Direct labor cost per unit $9

Variable manufacturing

overhead cost per unit $4

Total direct costs per unit $31

Fixed manufacturing overhead cost (total) $980,000

Unit product cost under absorption costing:

Manufacturing costs:

Direct materials cost per unit $18

Direct labor cost per unit $9

Variable manufacturing

overhead cost per unit $4

Total direct costs per unit $31

Fixed manufacturing

overhead cost (total) $20 ($980,000/49,000)

Total unit product cost = $51

Cost of goods manufactured = $2,499,000 ($51 * 49,000)

Cost of goods sold = $2,244,000 ($51 * 44,000)

Selling and administrative expenses = $650,000 ($2 * 44,000 + 562,000)

8 0

2 years ago

Alta Co. spent $400,000 during the current year developing a new idea for a product that was patented during the year. The legal

Lina20 [59]

Answer:

amount of capitalize related to the patent is $90000

Explanation:

given data

spent = $400,000

patent license = $40,000

defend rights of the patent = $50,000

patent life = 20 years

solution

as we know that development cost of new product idea is an direct expense

so here Legal fee will be incurred for apply patent and successfully defend the patent right is the capitalized asset

so capitalize related to the patent is = $50,000 + $40,000

amount of capitalize related to the patent is $90000

5 0

2 years ago

For a normal​ good, a decrease in demand is represented as a

For a normal good, a decrease in demand is represented as a