Business, 07.01.2020 05:31 fatosis

Which of the following factors cause a decline to both price and the quantity being sold? an increase in demand no change in demand or supplya decrease in supply a decrease in demand

Answers: 2

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Answer from: nakeytrag

The correct answer is: decrease in demand.

Explanation:

The equilibrium price and quantity are determined through the intersection of demand and supply curves.

An increase in demand will cause the demand curve to move to the right. This will cause both the price level as well as quantity to increase.

A decrease in supply will cause the supply curve to shift to the left. This will cause the price to increase and quantity to decline.

A decrease in the demand curve will cause the demand curve to shift to the left. This will cause the price as well as quantity to decline.

Answer from: Quest

1 all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

Answer from: Quest

urban company reports the following information regarding its production cost: units produced 37,000 units direct labor $ 30 per unit direct materials $ 35 per unit variable overhead $ 237,000 in total fixed overhead $ 127,000 in total

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Which of the following factors cause a decline to both price and the quantity being sold? an increas...