Answer:
diminishing returns,
Explanation:
The law of diminishing marginal returns claims that the returns from the input will first increase at an increasing rate until production reaches an optimal level. After the optimal level, and holding the other factors constant, the returns from the output will start diminishing and eventually turn negative.
Diminishing returns concepts apply in the short term, where only variable inputs can change. For example, in a factory setting, the optimal production capacity is fixed in the short-run. Additional usage of a variable such as labor increase returns until the factor reaches its optimal capital. Additional hiring of labor results in diminishing returns in labor output.
Answer:
The correct answer was supposed to be $36,000 which is not in the given choices.
Explanation:
correct balance in the bank account
= As per bank statement balance - outstanding checks + deposit in transit + check erroneously charged
= $72,000 - $54,000 + $15,000 + $3,000
= $36,000
Answer:
January 24, 2022, Madonna Inc.'c account is written off
Dr Allowance for doubtful accounts 4,245
Cr Accounts receivable 4,245
the cash realizable value of the accounts receivable account:
- before the write off = $653,700 - $24,200 = $629,500
- after the write off = ($653,700 - $4,245) - ($24,300 - $4,245) = $629,500
The net balance of the account does not change because the allowance for doubtful accounts is a contra asset account that already decreased the accounts receivable balance.
Explanation:
Perfect competition - A perfectly competition firm is one that is marked by a huge number of seller / producers as well as a large number of buyers . These firms produce large amounts of homogeneovs products that are sold at a price decided in the market by market force .
Answer:
Ease of entry into the market
Explanation:
A perfect competition is characterised by many buyers and sellers of homogenous goods and services.
In the long run, perfect competition make zero economic profit because if firms are making economic profits in the short run , new firms would enter into the industry in the long run. This is made possible because of the ease of entry into the market.
I hope my answer helps you
