Answer:
Fighting Okra Cooking Services
Income Statement for the years ended December 31, xxxx
Service revenue $84,000
Less: Supplies expense <u>($19,000)</u>
Gross Income $65,000
Less: Operating Expenses
Postage expense $1,950
Legal fees expense $2,850
Rent expense $11,500
Salaries expense <u>$33,000</u>
<u>($49,300)</u>
Operating Income <u>$15,700 </u>
Explanation:
The interest and Tax expenses has not been given, so the income statement is ended up on Operating income.
Answer:
D.28000
Explanation:
Lets first understand what market supply is? Market supply is the accumulation/aggregation of total supply made by individual suppliers/vendors who are willing to provide at the current/prevailing prices. The market supply basically reflects the willingness of the vendors to supply goods/services at a given rate. Market supply can be either expressed in monetary terms or in terms of quantity.
So the market supply at $7.50 is as follows:
Market supply @ $7.50 = 12000 + 16000
Market supply @ $7.50 = 28000
It can be generally agreed that an increase in price can lead to an increase in supply by vendors, owing to the fact that the suppliers find a greater margin for themselves. Now in this question, we can see that at the price of $5 per pack of battery Duracell and Energizer sell 10000 and 15000 packs respectively and when the price rises to $7.50 both Duracells and Energizer sell more than what they were selling at $5 per pack.
10,000×1.08=$10,800
As simple as investing gets.
Answer:
The marginal utility of chili must be 28.57 for the consumer to maximize total utility.
Explanation:
The marginal utility of chili at which the consumer maximizes total utility can be calculated as follows:
Let:
CCHIP = Cost of a bag of chips = $1.75
MUCHIP = Marginal utility of a bag of chips = 20
CCHILI = Cost of a cup of chili = $2.50
MUCHILI = Marginal utility of a cup of Chili = ?
The condition for the utility maximization of the consumer is as follows:
MUCHIP / CCHIP = MUCHILI / CCHILI ……………………………. (1)
Substituting all the relevant values into equation (1) and solve for MUCHILI, we have:
20 / 1.75 = MUCHILI / 2.50
(20 / 1.75) * 2.50 = MUCHILI
MUCHILI = 28.57
Therefore, the marginal utility of chili must be 28.57 for the consumer to maximize total utility.
The Correct Response is Option B.
Inflation: can obscure relative price changes.
- In the field of economics, inflation refers to an overall rise in the cost of goods and services throughout a nation. Each unit of currency may purchase fewer products and services as the overall price level rises, hence inflation is associated with a decline in the buying power of money.
<h3><u>What occurs when inflation occurs?</u></h3>
- The main cost of inflation is the loss of real income, which occurs when prices rise unevenly and causes some customers' buying power to decline. For both those who receive and pay fixed interest rates, inflation might over time affect their ability to make purchases.
To learn more about Inflation, Click the links,
brainly.com/question/28136474
brainly.com/question/28190771
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