Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jan 18, 2021

Consider the market for petrol. Which of the following changes would most likely lead to a decrease in supply? Group of answer choices (a) An

Consider the market for petrol. Which of the following changes would most likely lead to a decrease in supply?

Group of answer choices

(a) An increase in the price of petrol cars.

(b) The cost of oil refinery increases.

Both b and c are correct

Step by Step Solution

★★★★★

3.45 Rating (164 Votes )

There are 3 Steps involved in it

Step: 1

ANSWER b The cost of oil refinery increases Refining is all about heat pressure steamall that is ver... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Document Format ( 2 attachments)

635de88c8d779_179885.pdf

180 KBs PDF File

635de88c8d779_179885.docx

120 KBs Word File

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Core Concepts of Accounting

Authors: Cecily A. Raiborn

2nd edition

470499478, 978-0470499474

More Books

Students explore these related Accounting questions

Question

Cost of goods sold is shown as a distinct line item on the income statement. Where is information related to cost of goods sold shown on the statement of cash flows under both the direct and indirect...

Answered: 3 weeks ago

Question

Cost of goods sold is $100,000. Accounts payable increased by $2,000. Inventory increased by $5,000. Cash paid to suppliers is: Multiple Choice $107,000. $103,000. $100,000. $93,000.

Answered: 3 weeks ago

Question

Cost of Goods Sold is reported as an asset on the balance sheet. as a direct reduction of equity on the statement of changes in stockholders\' equity. as an addition to Sales Revenue on the income...

Answered: 3 weeks ago

Question

Do economists have any particular expertise at making normative arguments? In other words, they have expertise at making positive statements (i.e., what will happen) about some economic policy, for...

Answered: 3 weeks ago

Question

Have you ever used Skype or FaceTime? If not, get the software and attempt to contact someone you know. Describe the experience after five minutes has elapsed. Are you bored?

Answered: 3 weeks ago

Question

A storage tank acquired at the beginning of the fiscal year at a cost of $90,000 has an estimated residual value of $12,000 and an estimated useful life of 25 years. Determine the following: (a) The...

Answered: 3 weeks ago

Question

6.47 No Shows Airlines and hotels often grant reservations in excess of capacity to minimize losses due to no-shows. Suppose the records of a hotel show that, on the average, 10% of their prospective...

Answered: 3 weeks ago

Question

Journalize the following transactions in the accounts of Champion Medical Co., a medical equipment company that uses the direct write-off method of accounting for uncollectible receivables: Jan. 19....

Answered: 3 weeks ago

Question

Listed below are the transactions that affected the shareholders' equity of Branch-Rickie Corporation during the period 20212023. At December 31, 2020, the corporation's accounts included: Common...

Answered: 3 weeks ago

Question

The lifetime (in months) of a battery is modeled by a random variable X that has pdf f ( x ) = K x 1 ( x > 0 ) where K = ln ( 1 / ) for an unknown parameter ( 0 , 1 ) . (Here 1 ( x > 0 )...

Answered: 3 weeks ago

Question

Are there exceptions to the 1 0 % penalty on early distributions from a traditional IRA?

Answered: 3 weeks ago

Question

After a breakthrough election victory at Amazon, the Amazon Labor Union fell far short of winning enough votes to unionize a second warehouse on Staten Island in New York. The vote was 618 votes...

Answered: 3 weeks ago

Question

How can you customize this report to find any open balances? Customize > Filter, then choose Uncleared in the Cleared dropdown Gear icon > Change columns, then mark the Credit checkbox in Change...

Answered: 3 weeks ago

Question

A codebook is used in quantitative research to define the variables (or columns) in a data set and the response categories for each of these variables. Looking at the codebook for this Assessment,...

Answered: 3 weeks ago

Question

Based on Iceberg Model of "Learning Organization" ( Artifacts, Espoused Values and Basic Assumptions) are analyze and reflected in each of the different levels of culture at Amazon? Reference:...

Answered: 3 weeks ago

Question

For this task, you need to use the provided pcapanalysis.py and TCP.reflection.pcap files to create three functions. The snippet below shows where you need to code the functions and the expected...

Answered: 3 weeks ago

Question

Im not sure we should lay out $325,000 for that automated welding machine, said Jim Alder, president of the Superior Equipment Company. Thats a lot of money, and it would cost us $89,000 for software...

Answered: 3 weeks ago

Question

How do individual companies respond to economic forces throughout the globe? One way to explore this is to see how well rates of return for stock of individual companies can be explained by stock...

Answered: 3 weeks ago

Question

Morris & Butler is a large discount brokerage firm. On December 31, 2008, the stockholders equity section of the companys balance sheet indicated that 65,000 shares of the companys common stock were...

Answered: 3 weeks ago

Question

Following are price-earnings (P/E) ratios on December 10, 2008, for several prominent companies: P/E Ratio Pfizer Inc....................................................... 10.6 Lowes...

Answered: 3 weeks ago

Question

Many companies have been said to manage earnings. Use library or Internet resources to nd out what is meant by earnings management and discuss how it could affect earnings quality.

Answered: 3 weeks ago

Question

The following information was taken from the accounting records of Palmetto Company for the month of January: Balance per bank $6,150 Balance per company records $3,580 Bank service charge for...

Answered: 3 weeks ago

Question

How do you write a system of linear equations in two variables? Explain this in words and by using mathematical notation in an equation.

Answered: 3 weeks ago

Question

Janet Chang has to choose between buying more school supplies or more cosmetic products for the week. She has a fixed income and she knows the prices of both products. Using indifference curves and...

Answered: 3 weeks ago

Previous Question Next Question