# An increase in the price of steel to producers of refrigerators will cause _____________________. a) the quantity demanded for steel to increase b) the demand for refrigerators to decrease c) the quantity supplied of refrigerators to increase d) the supply curve for refrigerators to shift left

Explanation:

Price of input is a determinant of supply. Any change in the price of input will shift the supply curve. It was observed that steel is used as a factor of production or as an input in the production of refrigerators. So, if there is any increase in the price of steel will directly increase the cost of production for refrigerator producers. Therefore, this will cause the supply curve for refrigerators to shift leftwards.

## Related Questions

In March, stockholders of Herbalife Nutrition approved a 3-for-2 stock split. After the split, how many shares of Herbalife stock will an investor have if she or he owned 400 shares before the split?

600 shares

Explanation:

If a 3-for-2 stock split will take place, for every 2 stocks that an investor has, he will receive three stocks. So this specific investors who owns 400 stocks will receive:

(400 / 2) x 3 = 200 x 3 = 600 stocks.

After the 3-for-2 stock split, the company will have 50% more stocks outstanding and the price of each stock should be reduced by one third. So the investor shouldn't earn any profit from this split since the market value of the investment should remain about the same (stock prices change daily whether the split takes place or not).

Pets store inc sells on terms of 1/15 net 85 what is the effective annyal cost of trade credit under these terms

The cost of trade credit is the cost that someone will incur had he not taken the discount offered. This is calculated through the equation,

cost of trade credit = (1 + d/(1 - d))^(365/(Normal days - discount days)) - 1

From the given above it is identified that:

d = discount = 2% = 0.02
normal days = 85
discount days = 15

Substituting,

cost of trade credit = (1 + 0.02/(1 - 0.02))^(365/(85 - 15))  - 1
= 0.111

Converting this to percentage will give us a final answer of 11.1%.

A borrower applied for a VA guaranteed first time mortgage for \$50,000; however, the property appraised for \$46,000. If the buyer still wanted to buy the property which could happen?a. The broker could write up a contract, different from the actual offer price, to take to the lender b. The VA could allow the borrower to make up the difference in cash
c. The VA could make the borrower get a second mortgage for the difference
d. The veteran could not get a VA loan because it appraised for over \$35,000

Explanation:

In this case, the borrower applied for the VA guarantee for the first time mortgage which amounts to \$50,000 but the property that is appraised worth only \$46,000. It is \$4,000 short (\$50,000 - \$46,000).

In order to buy the property, the VA should allow the borrower to make up or come up with the difference in the cash that is \$4,000. And this will allow or help the borrower in buying the property.

Kent bought a \$2,000, 20-year U.S. Treasury bond that paid six percent annual yield when he was 22. How much would that bond be worth 20 years later when it matured?

The bond worth \$ 4400 at the time of the bond maturity.

Explanation:

Principal amount = \$ 2000

Rate of Interest = 6%

Number of years = 20

SI = Pnr

= 2000 × 6  × 20 / 100

= \$ 2400

The bond worth when it was matured is \$ 2000 + \$ 2400 = \$ 4400