The entry made on the maturity date consists of debiting the Notes Receivable and crediting the Accounts Receivable to reflect the payment received, and debiting the Interest Receivable and crediting the Interest Revenue to recognize the interest earned.
On the maturity date of July 9, Mifflin Company should make the following entry assuming Payton Summers pays in full and no adjusting entries have been made related to the note:
Debit: Notes Receivable $9,400
Credit: Accounts Receivable $9,400
This entry reflects the cancellation of the Accounts Receivable and the recognition of the payment received through the Notes Receivable. The Notes Receivable account represents the amount owed to Mifflin Company by Payton Summers.
Since the note is a 150-day note, the 150 days need to be converted to a fraction of a year using a 360-day year. To calculate the interest earned, we use the formula:
Interest = Principal x Rate x Time
Principal: $9,400
Rate: 6%
Time: 150 days / 360 days (0.4167 years)
Interest = $9,400 x 6% x 0.4167 = $234.82 (rounded to the nearest cent)
To record the interest earned on the note, the following entry is made:
Debit: Interest Receivable $234.82
Credit: Interest Revenue $234.82
This entry recognizes the interest receivable from Payton Summers and the corresponding revenue earned by Mifflin Company. Overall, the entry made on the maturity date consists of debiting the Notes Receivable and crediting the Accounts Receivable to reflect the payment received, and debiting the Interest Receivable and crediting the Interest Revenue to recognize the interest earned.
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Two grams of musk oil are required for each bottle of mink caress, a very popular perfume made by a small company in western siberia. the cost of the musk oil is $2.10 per gram. budgeted production of mink caress is given below by quarters for year 2 and for the first quarter of year 3:
Answer:
Since there is not enough room here, I used an excel spreadsheet and attached it.
Explanation:
Year 2 Year 3
First Second Third Fourth First
Budgeted prod. 84,000 114,000 174,000 124,000 94,000
in bottles
Musk oil has become so popular as a perfume ingredient that it has become necessary to carry large inventories as a precaution against stock-outs. For this reason, the inventory of musk oil at the end of a quarter must be equal to 20% of the following quarter’s production needs. Some 33,600 grams of musk oil will be on hand to start the first quarter of Year 2.
when fraud factors are identified during an audit the auditor's documentation should include
When fraud factors are identified during an audit, the auditor's documentation should include a complete explanation of the observations, as well as any supplementary information. The auditor's report should detail the procedures that were performed in order to identify and assess fraud risk. This comprehensive documentation is crucial to support the findings and conclusions related to potential fraud risks.
ExplanationDuring the audit, if the auditors identify fraud or evidence that fraud may have occurred, they should ensure that the audit documentation includes a complete explanation of the observations, along with any supporting information. The auditor must also include their assessment of the importance and impact of the observations. The auditor must report their findings on fraud in the audit report if they conclude that it exists.
When fraud is identified during an audit, the auditor's documentation should include a thorough description of the observations and supporting data, as well as an assessment of the implications of the findings. The auditor must also detail the procedures that were performed to identify and assess fraud risk. The documentation should also include the auditor's assessment of the risk of fraud in the financial statements and the adequacy of the company's internal controls. If fraud is discovered, the auditor must determine the extent of the misstatement, its potential impact on the financial statements, and any potential implications for the company's management. The auditor's documentation should provide a detailed analysis of all of these factors in order to assist with the evaluation of the overall impact of the audit on the company.
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a characteristic of oligopoly that is not present in other market structures is that there are many sellers and each produces a differentiated version of the product. are many sellers that produce identical products. is only one seller and that seller holds a high level of market power. are a small number of sellers and they have market power.
Throughout history, oligopolies have existed in various industries such as steel, oil, railroads, tire manufacturing, grocery chains, and mobile operators. Other industries with oligopoly structures are airlines and pharmaceutical companies.
Monopolies and oligopolies are market structures that exist under imperfect competition. A monopoly is when a single firm produces goods with no substitutes, while an oligopoly is when a few relatively large firms produce similar but slightly different goods.
An oligopoly market is a market dominated by a few suppliers. They can be found in all countries and across a broad range of sectors. Some oligopoly markets are competitive, while others are significantly less so, or can at least appear that way.
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DuraValue mutual fund gains 20% in year one. It gains 10% in year two. It gains 30% in year three. What is the average annual return of the fund
Based on the information given the average annual return of the fund is 20%.
Using this formula
Average annual return=(Year one percentage gain+ Year two percentage gain +Year three percentage gain)/ 3 years
Where:
Year one percentage gain=20%
Year two percentage gain=10%
Year three percentage gain=30%
Let plug in the formula
Average annual return=20%+10%+30%/3
Average annual return=60%/3
Average annual return=20%
Inconclusion the average annual return of the fund is 20%.
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Which is not a career in the General Management pathway?
The option that is NOT a General Management Career Pathway is:
"Small Business Owner" (Option C). See further explanation below.
What is a Career Pathway?A Career Pathway is a sequence of planned and linked education programs and support services that allow students to move over time to better employment and higher levels of education and training, frequently while they are working.
To put it another way, Career Pathways is a workforce development method utilized in the United States to help employees move from education to and through the job.
Choosing a professional path is difficult and needs a comprehensive assessment of your talents, prospects, and objectives.
It is a competition for everyone to survive in the ever-increasingly competitive professional world, where a perfect move at the right moment may propel you to career pinnacles, while a poor move might sink you into the pits.
You may have possessed the necessary talents to advance, but you must use them correctly in order to succeed in your work.
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Full Question:
Which is not a career in the General Management pathway?
A) Business intelligence analyst
B) Director of market intelligence
C) Small business owner
D) Labor relations specialist
if the exchange rate between the dollar and the pound is currently 1.50 and is expected to be 1.35 in one year
If the rate is expected to be 1.35 in one year, the expected rate of depreciation of the dollar is 10%.
What is the expected rate of depreciation of the dollar?To calculate the expected rate of depreciation, we can use the formula: Rate of depreciation = (Ending exchange rate - Starting exchange rate) / Starting exchange rate
Given that the starting exchange rate is 1.50 and the expected ending exchange rate is 1.35, we substitute values into the formula:
Rate of depreciation = (1.35 - 1.50) / 1.50
Rate of depreciation = -0.15 / 1.50
Rate of depreciation = -0.10
Rate of depreciation = -10%.
Full question:
If the exchange rate between the dollar and the pound (the pound price of the dollar) is currently 1.50, and is expected to be 1.35 in one year, then the expected rate of depreciation of the dollar is _____.
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The expected percentage change in the exchange rate between the dollar and the pound is -10%.
This indicates a 10% depreciation of the dollar against the pound.
If the exchange rate between the dollar and the pound is currently 1.50 and is expected to be 1.35 in one year, it means that the pound is expected to appreciate against the dollar.
This implies that it will take fewer dollars to buy one pound in the future.
To calculate the percentage change in the exchange rate, we can use the following formula:
Percentage Change = [(New Rate - Old Rate) / Old Rate] * 100
Using the given values, we can substitute them into the formula:
Percentage Change = [(1.35 - 1.50) / 1.50] * 100
Simplifying the expression:
Percentage Change = (-0.15 / 1.50) * 100
Percentage Change = -10%
Therefore, the expected percentage change in the exchange rate between the dollar and the pound is -10%.
This indicates a 10% depreciation of the dollar against the pound.
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To finance the building of a new police station, a local government is most likely to issue a ____________ .junk bond.treasury bond.municipal bond.money market bond.
To finance the building of a new police station, a local government is most likely to issue a municipal bond. This type of bond is specifically designed for local governments to raise funds for public projects, such as schools, hospitals, and infrastructure.
Municipal bonds are typically exempt from federal income tax and may also be exempt from state and local taxes, making them an attractive investment for investors seeking tax-free income. They are not the same as treasury bonds, which are issued by the federal government, or junk bonds, which are high-risk and low-rated bonds. Money market bonds do not exist as a specific type of bond, but rather refer to a type of mutual fund that invests in short-term debt securities.
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outline two benefits to Mohammed's business of all his workers being able to do all of the jobs in the bakery. pls help!
Answer:
1. Saved time
2. Saved cost
Explanation:
If Mohammed owns a bakery where all his workers are able to do all the jobs, he benefits because he would;
1. Save time: Time that would have been spent in outsourcing the job to people who can do them with the accompanying risks of delays and disappointments are bypassed. Time is an essential factor in business because when goods are not available on customer's demand, they might have to seek other options.
2. Save cost: Mohammed will save the additional cost of payments to businesses that do other jobs for him. He saves money when he only has to pay three workers instead of four or more workers. This will mean more profit for his business.
Which of these statements describes the costs and benefits of taking a college loan?
A. College loans require students to work while studying but they cost less than conventional loans.
B. College loans reduce tuition payments but increase total educational costs because of interest payments.
C. College loans help students with academic and athletic skills overcome financial hardships.
D. College loans help increase future earning power but result in a long-term commitment to monthly payments.
Answer:
D. College loans help increase future earning power but result in a long-term commitment to monthly payments.
Explanation:
College loans refer to the money advanced to college students to help them pay for their college education. College loans cover tuition fees and other related expenses. Students are expected to pay back the loans after completing college education and are working.
College loans help students acquire the knowledge and skills necessary to secure better-paying jobs. College graduates are in a better position to land higher-paying jobs than non-college graduates. Therefore, college loans increase future earning power. However, a student has to repay their loan upon securing employment or is earning.
Answer:
c
Explanation:
Which expense category will most likely be changed to allow money for the purchase of a car? savings Which expense category will most likely be changed to allow money for the purchase of a car?
savings
groceries
utilities
entertainmentgroceries utilities entertainment
Answer:
D. entertainment
The balance on a credit card, that charges a 20%
APR interest rate, over a 1 month period is given in
the following table:
Days 1-5: $200 (initial balance)
Days 6-20: $350 ($150 purchase)
Days 21-30: $150 ($200 payment)
What is the finance charge, on the average daily
balance, for this card over this 1 month period?
finance charge = $ [?]
Round to the nearest hundredth.
Enter
The balance on a credit card, that charges a 20% APR interest rate, the Finance charge is given as
$4.3055
This is further explained below.
What is the APR interest rate?Generally, The interest rate that is applied to a loan, mortgage loan, credit card, etc. is referred to as an annual percentage rate of charge, which sometimes corresponds to a nominal APR and sometimes corresponds to an effective APR.
The annual percentage rate of charge is the interest rate for the entire year, as opposed to just a monthly fee or rate. It is a fee for financing that is presented in the form of an annual rate.
Interest rate APR = 12%
Average balance = ((200*5)+(350*15)+(150*10))/30
Average balance = $258.33
Average balance*APR/12
Finance charge =\(\frac{258.33*20 \%}{12 }\)
Finance charge = $4.3055
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mgt 300 corp. attempts to gain a competitive advantage by driving down its production costs per unit below those of its competitors. they are pursuing a(n)
In the field of strategic management, companies try to achieve a competitive advantage over their competitors to have an edge in the market.
MGT 300 Corp. attempts to gain a competitive advantage by driving down its production costs per unit below those of its competitors. They are pursuing a cost-leadership strategy. The objective of cost leadership is to achieve the lowest cost of production and distribution in the industry. By achieving this objective, a firm can achieve a competitive advantage in the marketplace. This can be accomplished by eliminating waste, lowering labor costs, or reducing the number of products that are offered. In addition, this strategy is effective for companies that have a large market share and economies of scale.
In conclusion, pursuing a cost-leadership strategy requires a relentless focus on costs, efficiencies, and operational excellence.
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Bought a motor van by cheque would result in
A. Increase in motor van and decrease in bank
B. Decrease in motor van and increase in bank
C. Increase in motor van and increase in capital
D. Increase in motor van and decrease in capital
Answer:
The answer is B.
Hope this helps!
Answer:
B one is correct
Explanation:
mark me brainlist
1. Prepare the journal entries for Star Inc. For the month of December: 12/2 Purchased $20,000 of merchandise from Tang Corp., terms 1/20, n/40; FOB shipping point 12/3 The appropriate party paid $150 for shipping costs related to the 12/2 transaction 12/6 Returned $2,000 of merchandise to Tang Corp for credit 12/10 Sold $500 of merchandise to R. Smith, terms 2/10, n/30; cost of merchandise was $120; FOB shipping point 12/11 The appropriate party paid $20 for shipping costs related to the 12/10 transaction 12/18 Received the balance due from R. Smith 12/21 Paid Tang Corp the balance du
Answer:
1.Purchases (Dr.) $20,000
Accounts Payable (Cr.) $20,000
2.Shipping cost (Dr.) $150
Cash (Cr.) $150
3.Purchase return (Dr.) $2,000
Purchases (Cr.) $2,000
4.Account Receivable (Dr.) $500
Sales (Cr.) $500
5.Freight expense (Dr.) $20
Cash (Cr.) $20
Explanation:
The journal entry at the time of purchase will be recorded as accounts payable for complete invoice amount and discount is not incorporated in the entry because it is not realized. The adjusting entry will be recorded when the discount is availed to adjust the transaction and reflect the discount effect in the book of accounts.
Rashida purchased a machine for $5600. She sold it six years later for $500. At that date, the
provision for depreciation had a credit balance of $5040.
What entry was made in the income statement?
A credit $60
B debit $60
C credit $560
D debit $560
The entry made in the income statement in this scenario would be a debit of $560. So, the correct answer is D debit $560.
The provision for depreciation represents the accumulated depreciation of the machine over the six-year period. Since the provision had a credit balance of $5040 at the time of sale, it means that the total depreciation expense recognized over the six years was $5040.
To calculate the depreciation expense per year, we divide the total accumulated depreciation by the number of years (6). So, the annual depreciation expense is $5040/6 = $840.
When Rashida sold the machine for $500, it implies that the machine's carrying value or book value was reduced to $500. To account for this loss on disposal, the income statement entry will be a debit to Depreciation Expense for the remaining balance of the machine's book value, which is $840 - $500 = $340.
However, since the question asks for the specific entry made in the income statement, the amount to be debited will be the difference between the machine's original cost and its book value at the time of sale, which is $5600 - $500 = $5100.
Hence, the entry in the income statement will be a debit of $5600 - $500 = $5100. So, the correct answer is D debit $560.
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the purchase price and all costs to bring an asset to its desired condition and location for use should be ______.
Answer: capitalized
Explanation:
The purchase price and all costs to bring an asset to its desired condition and location for use should be capitalized.
To capitalize in business is simply known as to record a cost or expense. This is done on the balance sheet. The capitalization of expenses is important as firms acquiring new assets with long-term bases can amortize or depreciate the costs.The costs that we have to capitalize when purchasing assets is the cost of the item or fixed asset.
Conclusively we can therefore say that purchase price and all costs to bring an asset to its desired condition is to capitalize them as it is the best thing to do.
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information sharing among supply chain members will typically result in all of the following except
Information sharing among supply chain members will typically result in all of the following except an increased bullwhip effect. The correct answer is c.
Information sharing among supply chain members typically results in faster response times, early problem detection, and greater trust and confidence among supply chain members.
When information is shared effectively and in a timely manner, it enables better coordination and collaboration within the supply chain, leading to improved responsiveness and the ability to address issues proactively.
By sharing information about demand forecasts, inventory levels, production capacities, and customer insights, supply chain members can make more informed decisions and respond quickly to changes in the market. This can result in reduced lead times, better inventory management, and enhanced customer service.
Furthermore, information sharing facilitates early problem detection by allowing supply chain members to identify issues or disruptions in real-time. This enables prompt corrective actions and minimizes the negative impact on the overall supply chain performance.
Additionally, information sharing fosters greater trust and confidence among supply chain members. When information is shared transparently and consistently, it builds mutual understanding, strengthens relationships, and promotes collaboration.
This trust and confidence are crucial for effective decision-making, risk management, and overall supply chain performance improvement. However, information sharing can potentially amplify the bullwhip effect.
The bullwhip effect refers to the amplification of demand variability as it moves up the supply chain. While information sharing can help mitigate the bullwhip effect by providing visibility and reducing uncertainties, ineffective sharing or misinterpretation of information can lead to misaligned forecasts and exaggerated fluctuations in orders and inventories.
In summary, information sharing in supply chains generally leads to faster response times, early problem detection, and greater trust among members. However, it is important to manage information effectively to avoid exacerbating the bullwhip effect and ensure that shared information is accurate, timely, and properly interpreted.
The correct answer is c.
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Complete question is:
Information sharing among supply chain members will typically result in all of the following except
a. faster response times.
b. early problem detection.
c. an increased bullwhip effect.
d. greater trust and confidence among supply chain members.
Which of the following represents an isocost line?
C = TC + FC
C = FC + VC
C = TC - VC
C = wL + rK
The equation C = wL + rK represents an isocost line, showing combinations of labor and capital that can be purchased at a given total cost.
C = wL + rK represents an isocost line.
An isocost line shows the various combinations of inputs (in this case, labor and capital) that can be purchased at a given total cost (C).
In the equation C = wL + rK, w represents the wage rate for labor, L represents the quantity of labor, r represents the rental rate for capital, and K represents the quantity of capital.
By varying the quantities of labor and capital, the total cost remains constant along the isocost line.
Therefore, option D) C = wL + rK correctly represents an isocost line.
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why would it be cheapter to have pullition credits compared to reducing pollution units microeconomics
When Company A stops emitting pollution or lowers air pollution, a pollution credit may be created.
The federal Clean Air Act of 1990 (CAA) gave businesses a mechanism to comply with rules meant to reduce air pollution through the creation of pollution credits. Since 1995, a "cap and trade" system developed by the Environmental Protection Agency (EPA) and other states has given utilities and businesses permission to emit a set amount of particular pollutants. While assisting in upholding the requirements necessary to preserve cleaner air, this approach gives businesses considerable flexibility in their compliance. By voluntarily lowering its polluting emissions below the EPA's set limitations, a business can obtain pollution credits. After then, earned credits can either be sold to another business that struggles to keep its emissions within legal bounds or stored for later use.
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WILL BE MARKED BRAILIEST!!
3.A company sees that sales of its speakers have decreased over the past
120 days. Its most likely option is to first
design a market research plan
visit some stores selling the product
stop production of the product
lower prices and see what happens
Answer:
They company goes out of business?
Explanation:
On December 1, 2021, Carlos entered into a lease on a building for use in his business for $1,000 per month. Under the lease terms, Carlos pays 18 months’ rent ($18,000) in advance on December 1. How much can Carlos deduct for rent in 2021?
a. $12,000
b. $18,000
c. $1,000
d. $13,000
The amount that Carlos can deduct for rent in the year 2021, based on his annual rent is c.$1,000.
Rent in 2021When recording rent, you can only record it for the period that the financial statement is for.
The rent given is for 18 months from December 2021 which means that it will be for only a single month in December.
The rent will therefore be a rental amount for a month:
= Rental amount / Number of months
= $18,000 / 18
= $1,000
In conclusion, option C is correct.
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people often become wealthy by using a painfully simple strategy.
Answer:
It's about the power
It's about the drive
Explanation:
Just listen to face off song
when an allocation of resources maximizes total surplus, the result is said to be efficient.
It is True that when an allocation of resources maximizes total surplus, the result is said to be efficient.
This is based on the governmental policies indicators, which state that the equilibrium of supply and demand maximizes total surplus.
This is because, at the equilibrium of supply and demand, the output point is deemed efficient.
This situation is because there is no other price and quantity combination that can lead to a higher level of total surplus.
Hence, in this case, it is concluded that the statement above is True.
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Flora+paid+her+supplier+$0.75+a+stem+for+roses+to+sell+at+her+flower+shop.+she+added+an+80%+markup.+what+is+the+amount+of+markup?
The amount of markup that Flora added to her roses is $0.6.
In the Given question try to find out the sum markup on Flora's roses.
Given that :
Markup Rate is 80%.Original Rate is 0.75.The formula we are using is :
Markup amount = Markup rate × Original price
The markup rate is in not decimal form so we convert the value into decimal form by dividing 100.
80/100=0.8
Now both Values are in the same form so we can put the value in the formula.
0.80×0.75=0.6
Hence, the answer is $0.6.
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The complete question is:
Flora paid her supplier $0.75 a stem for roses to sell at her flower shop. She added an 80% markup. What is the amount of markup?
the amount of goods and services you can buy with a dollar in the global market ______.
The amount of goods and services you can buy with a dollar in the global market increases with a rising dollar value.
What occurs when the Fed raises the money supply?When an economy's money supply expands more quickly than its capacity to generate goods and services, inflation results. A rise in the money supply has two effects: it lowers interest rates, which encourage investment, and it puts more money in the hands of consumers, which makes them feel wealthier and encourages consumption.
Inflation is a possibility when the Federal Reserve expands the money supply. Prices will almost always go up, the cost of commodities will fluctuate, and inflation is almost certain. Short-term interest rates are lowered by an increase in the money supply. This reduced cost of borrowing money encourages investment spending and moves the AD curve to the right.
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Answer:
increasing with a rising doller value
Explanation:
Tennyson's ultimate goal is to work as the CEO of an advertising agency. One of her goals is to "gain the required experience for the position." What type of goal would this be?
OA performance-based
OB. time-based
O C.
OD. long-term
mid-term
The type of goal that is been used when Tennyson's ultimate goal is to work as the CEO of an advertising agency and one of her goals is to "gain the required experience for the position is B. time-based goal.
What is time-based goal?
Time-based goal can be described as the goal that is been focused so that it can be achieved on a target date, it involve focusing on a particular thing at a time so as to be successful in it.
In conclusion, from the case above , we can see that her goal is to work as the CEO of an advertising agency which is specific and have time.
Therefore, option B is correct.
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Ayman has a credit card with a balance of $4750 CAD and an annual interest of 21.5% compounded
monthly. He plans on paying off the loan completely in two years using monthly payments. What is the
total amount of interest he will pay once the card is paid off?
#1 $128.03
#2 $1136.00
#3 $4878.03
#4 $5886.00
Checking accounts are good for the money you'll want to access for ordinary daily purchases and monthly bills. True or False
Answer:
I believe this statement is true.
Which of the following choices incur speculative risk?
a.stocks
b.fire insurance on a house
c.options
d.life insurance
e.high interest savings account
Answer: correct option is A.
Explanation: A speculative risk can be defined as risk that is taken willingly either it results in profit or loss and the stocks involve in probability of gain and loss making it a speculative risk.
Stocks incur speculative risk. Therefore option A is correct.
What are Stocks?A stock usually referred to as equity, is a type of investment that denotes ownership in a portion of the issuing company. Shares, also known as units of stock, entitle their owners to a share of the company's assets and income in proportion to the number of shares they possess.
Common stock and preferred stock are the two primary categories of stocks.
Owners of common stock are entitled to dividends and the right to vote at shareholder meetings.
Common stockholders often do not have voting rights, while preferred stockholders typically get dividend payments ahead of time and are given preference over common investors in the event of a firm bankruptcy and asset liquidation.
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In the market for smartphones, which of the following events increases the supply of smartphones?
A. New technology lowers the cost of making a smartphone
B. Rise in the price of an e-book reader (a substitute in production)
C. An increase in people's incomes
D. A rise in the wage rate paid to electronics workers
In the market for smartphones, the event that increases the supply of smartphones is: A. New technology lowers the cost of making a smartphone.
When new technology lowers the cost of producing smartphones, it becomes more efficient and cost-effective for manufacturers to produce them. This reduction in production costs allows suppliers to offer smartphones at a lower price or to increase the quantity supplied at the current price. As a result, the supply of smartphones increases. The other options listed do not directly impact the supply of smartphones: B. A rise in the price of an e-book reader (a substitute in production) would affect the production costs or profitability of e-book readers, not smartphones. C. An increase in people's incomes may lead to higher demand for smartphones but does not directly affect the supply side. D. A rise in the wage rate paid to electronics workers would impact labor costs but does not directly impact the supply of smartphones.
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