Answer: B) demand determined.
Explanation:
If the supply of a good is fixed or the product is of a unique kind, the price of the good will be determined by the amount of demand for it.
Normally supply can change based on the quantity demanded which will impact prices but if the supply is definite, this means that the supply curve is inelastic and the only curve that can affect price therefore is the demand curve.
If more people demand the good, it will increase in price and if less people demand it, it will fall in price.
The statement that would describe the shift from D1 to D2 is Demand for the product increased.
<h3>Why was there a shift from D1 to D2?</h3>
D2 is a curve that is to the right of D1 which means that it represents a higher level of demand for goods and services.
This means that for the demand to move from D1 to D2, there must have been an increase in the demand for the good or service and this could have been for any number of reasons including a reduction in the price of complimentary goods.
Find out more on determinants of demand at brainly.com/question/1245771
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Answer:
The estimated fixed cost element of power costs is $10,000
Explanation:
For computing the fixed cost first we have to calculate the variable cost per unit which is shown below:
= (High power cost - low power cost) ÷ (High machine hours - low machine hours)
= ($22,000 - $15,000) ÷ (12,000 - 5,000)
= $7,000 ÷ 7,000
= $1
Now the fixed cost would be
= (High power cost) - (high machine hours × variable cost per unit)
= $22,000 - 12,000 × $1
= $22,000 - $12,000
= $10,000
Answer: 2 steps
Explanation: While calculating impairment of goodwill following steps should be taken :-
1.In the first step the fair value of the goodwill is compared with its carrying value.
2. In the second step, if the fair value comes to be lower than the carrying value, then it is concluded that there is an impairment and then it is computed accordingly.
Answer:
$75
Explanation:
Calculation to determine How much must the employee include in income from both these transactions in total
Customer price for property $500
Less: Gross profit (25%*$500) ($125)
($500-$125=$375)
Employee price ($300)
INCOME $75
($375-$300)
Customer price for service $150
Less: (20%*$150)max exclusion (30)
($150-$30=$120)
Employee price 120
INCOME 0
($120-$120=$0)
Therefore the amount that the employee must include in income from both these transactions in total is $75