Answer: Option C
Explanation: Perfect competition refers to a market structure under which there are large number of buyers and sellers each operating at a small level.
In such a market structure the supply curve is a horizontal line that depicts that whatever the quantity is the price will remain the same, that is, at the equilibrium level.
This happens due to the fact that there are large of number of participants present and no individual have the power to affect the price.
Thus, the correct option is C.
Answer:
The answer is B. $210,000
Explanation:
Retained Earnings is the part of profit that is not spent. It is put back into the business after the dividend must have been paid from profit for the year.
Ending retained earnings = beginning Retained Earnings plus net income minus dividend
Beginning Retained Earnings is $150,000
Net income is $95,000
Dividend is $35,000
Therefore amount of Retained Earnings at December 31, 2019 is
$150,000+$95,000-$35,000
=$210,000
Answer:
The first and third statements are correct. These statements are:
The utility function of a risk-averse person exhibits the law of diminishing marginal utility.
The more wealth that risk-averse people have, the less satisfaction they receive from an additional dollar.
Explanation:
A risk-averse individual is the one who tends to avoid taking risks. In other words, such an individual prefers lower returns with known risks as opposed to higher returns with unknown risks.
The utility curve for a risk-averse individual is concave in shape. This implies diminishing marginal utility, that is, the satisfaction derived from each additional dollar gained is less than that derived from the previous dollar. Therefore, the first and third statements are both correct.
The second statement is false because risk-averse individuals do not over-estimate the probability of losing money. The fourth statement is also false because risk-averse individuals receive less satisfaction from each additional dollar, not more.
Answer and Explanation:
Microeconomics is the study of the individual regarding the decision related to market demand and supply
While the macroeconomics would deals with the country like gross domestic product, national income etc
Based on this, the classification is as follows:
1. Microeconomics
2. Macroeconomics
3. Microeconomics
4. Microeconomics
5. Microeconomics
