Answer:
The 500-acre area is scarce because it has alternative uses: preservation in its natural state or a site for homes. A choice must be made between these uses. The opportunity cost of preserving the land in its natural state is the forgone value of the land as a housing development. The opportunity cost of using the land as a housing development is the forgone value of preserving the land.
Explanation:
If Merv calls Carla telling her the deal is off and Carla threatens to sue for breach of contract, the result is:
- The contrails void, Carla loses
<h3>What is a Contract? </h3>
This refers to the legally binding agreement between two or more people about a particular request or work.
With this in mind, we can see that because Merv is hired by Carla to fill a swampland and he is later informed that the land is in protected wetlands, this makes the contract void and Carla loses because it is not of the doing of Merv.
Read more about contractual agreements here:
brainly.com/question/5746834
Answer: Option C
Explanation:
A. Achievement of organizational goals is the result for which the controlling process is initiated.
B. Taking corrective action is the second last step in controlling process.
C. Controlling process starts with the establishment of standards from which the actual performance will be compared.
D. Comparison is the second step in controlling process.
E. Identification will be done only after the comparison and detection of deficiencies in the process.
Answer:
(E) net income is overstated by $225
Explanation:
With omitted income of $540 which is earned shall be added to revenue thus no with this revenue was understated.
Accrued interest payable is a liability to be recorded even if it is to be paid at a later date.
This is an expense to be recognized in Income Statement and a liability in balance sheet.
If not recognized means income is overstated with the same amount.
Net effect is -540 + 225 = $315 revenue understated
Since it is not in option correct option relevant is
(E) net income is overstated by $225.
Answer:
D
Explanation:
A monopolistic competition is when there are many firms selling differentiated products in an industry. A monopolistic competition has characteristics of both a monopoly and a perfect competition. the demand curve is downward sloping. it sets the price for its goods and services.
An example of monopolistic competition are restaurants
The product-variety externality: When new firms enter into an industry, competition drives price down. This increases consumer surplus. As a result, entry of firms into an industry results in a positive externality on consumers.
The business-stealing externality: When a new firm enters into an industry, existing firms lose customers and profits fall. As a result, entry of a new firm results in a negative externality on existing firms.
Markup over marginal cost is the extent of which price exceeds marginal cost
Excess capacity is when a firm is producing at a capacity that is less than what it is designed for. Excess capacity is evidenced when upon increasing output, average cost falls.
