answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Reika
2 months ago
11

Stone and brick are substitutes in home construction. consider the market for bricks depicted below. suppose the price of stone

increases due to new regulations for the stone quarrying industry. illustrate the impact this will have on the market for bricks.
Business
2 answers:
arsen [3.4K]2 months ago
8 0

Conclusion: The cost of bricks will rise.

Reasoning: Given that stone and bricks can replace each other, an increase in stone prices tied to the new regulations will heighten the demand for bricks. As bricks become less expensive compared to stones following the price adjustment, the usage of bricks will increase significantly. This change will shift the demand for bricks to the right, leading to an increase in brick prices along with more bricks being sold in the marketplace.

Free_Kalibri [3.7K]2 months ago
3 0

With the increase in stone prices due to new regulations on stone quarrying, there will be a corresponding rise in the demand for bricks, and the demand for stones will decrease. This relationship exists as stone and bricks are substitute goods.

Further Clarification:

Stone and bricks act as substitutes. In such cases, an increase in the price of one good influences the demand for the other. As stone prices rise, brick demand escalates since bricks are now more affordable than stones.

• A gradual increase in equilibrium price will occur as demand surges.

• The equilibrium quantity is guaranteed to go up as well, given the increase in stone prices, which raises the demand and quantity of bricks sold.

• Thus, the hike in stone prices will lead to increased demand for bricks, resulting in an upward shift in the demand curve, subsequently raising the quantity of bricks sold due to the higher price of the substitute good (stone) stemming from new regulations.

Learn More:

1. Demand and types of goods

2. Economic Elasticity

3. Demand for products

Details of the Answer:

Level: High school

Chapter: Demand and Supply

Subject: Economics

Keywords: Stone and brick serve as substitutes in home construction. Consider the illustrated market for bricks below. Imagine an increase in stone prices occurring due to fresh regulations affecting the stone quarrying sector. For the effect that this will have on the brick market; substitute goods display a direct link between the price of one item and the demand for the other substitute item.

You might be interested in
The Bharu Violin Corporation has the capacity to manufacture and sell 5,000 violins each year but is currently only manufacturin
Katen [3525]
The financial advantage amounts to $40,000. To determine the relevant variable cost, we can calculate it as follows: Unit variable cost = 130 + 20 = 150. The revenue from the special order (200 × $350) equals 70,000. The variable cost (200 × 150) is 30,000. Thus, the financial advantage totals 40,000. It's important to note that fixed manufacturing and selling costs have been excluded from this analysis since they remain constant regardless of the acceptance of the special order.
8 0
1 month ago
Describe the business reasons/requirements for ups to invest so heavily in networking technology? assume a strategic focus of op
soldi70 [3635]

Answer

There are several motives for UPS to delve into networking technology, which include: enhancing its company visibility, securing reliable connections, fostering growth by creating positive influences, exploring new opportunities, and generating referrals

Explanation

Networking technology involves utilizing connected systems through optical cables, satellites, and wireless networks for data and communication resources across various locations to establish an information relay infrastructure. From a strategic operational perspective, networking technology can enable the company to reach a broader clientele, acquire essential business knowledge, and ultimately achieve substantial growth and increased profits over time. Currently, through networking efforts, businesses share successes and failures with one another to comprehend challenges and promote faster growth.



3 0
1 month ago
On analyzing her company’s goods transport route, Simone found that they could reduce transport costs by a quarter if they merge
Scilla [3833]

Your position is logistician. I recently took the test and got all the answers correct, confirming this as accurate. Hope it helps (:

8 0
1 month ago
Read 2 more answers
Peter signed up for a program that cost $10.50 per month to stream movies to his computer. he decided to cancel his service afte
Scilla [3833]

Conclusion: Peter has a remaining amount of $1.25 after he covers the service expenses.

Reasoning:

The total cost for 5/6 of a month amounts to (5/6)*$10.5= 0.83333*$10.5

= $8.75

Thus, the difference between his initial funds and his expense for the service will result in his change.

Change = $10.5-$8.75

=$ 1.25.

I hope this response was helpful.

6 0
2 months ago
Consulting life (10 points) Mt. Kinley is a strategy consulting firm that divides its consultants into three classes: associates
soldi70 [3635]

Answer:

A. 50

B. 4%

Explanation:

To determine the number of new MBA graduates that Mt. Kinley must recruit annually, we calculate the flow rate of associates by dividing the average number of associates by the flow time for associates.

Requirement A:

Flow rate of associates = Average inventory of associates / Flow time of associates

Flow rate of associates = 200/4

Flow rate of associates = 50

Thus, the company needs to hire 50 new MBAs each year.

Requirement B

The likelihood of an associate advancing to partner is 20% x 20%

This results in a probability of 4% for an associate to become a partner

Therefore, the probability that a new employee at Mt. Kinley will be promoted to partner stands at 4%

Working

The manager flow rate equals the average inventory of managers divided by their flow time

The flow rate of managers = 60/6

The flow rate for managers totals 10 per year

For partners, the flow rate is calculated as the average inventory of partners divided by their flow time

The flow rate of partners = 20/10

This results in 2 partners per year

The probability of an associate becoming a manager is given by 10/50

yielding a probability of 20%

The chances of progressing to partner stands at 2/10

indicating a 20% chance of becoming a partner

3 0
1 month ago
Other questions:
  • Lauren's salary decreases from $34,000 to $30,000. She decides to reduce the number of outfits she purchases each year from 20 t
    5·1 answer
  • The federal government passes a law which a company, JuneCorp, feels unjustifiably discriminates against the company and harms i
    10·1 answer
  • Match the tasks with the professionals who would complete them.
    9·1 answer
  • A price index that tends to be a leading indicator of future inflation rates is the
    12·1 answer
  • Alex wants to measure the nominal 1998 GDP of $993 billion in 2008 dollars. From the data he gathered, he knows the deflator for
    10·1 answer
  • A stock index is valued at $800 and pays a continuous dividend at the rate of 3% per year. The 6-month futures contract on that
    14·1 answer
  • If a just-in-time purchasing policy is successful in reducing the total inventory costs of a manufacturing company, which of the
    8·1 answer
  • Feldspar Inc. is considering the capital structure for a new division. Management has been given the following cost information:
    6·1 answer
  • The following list includes a series of accounts for Sanjeev Corporation, which has been operating for three years. These accoun
    13·1 answer
  • If the price level doubled in a 23-year period, we can conclude that the average annual rate of inflation over that period was a
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!