Answer:
would leave the market first if the price were any lower.
Explanation:
Utility can be defined as any satisfaction or benefits a customer derives from the use of a product or service.
Thus, any satisfaction or benefits a customer derives from the use of a product or service is generally referred to as a utility.
In Economics, The law of diminishing marginal utility states that as the unit of a good or service consumed by an individual increases, the additional satisfaction he or she derives from consuming additional units would start decreasing or diminishing as the units of good or service consumed increases.
A marginal seller refers to an individual or business firm that is most willing to sell his or her goods and services at a price that is typically equal to their economic cost while forfeiting producer surplus.
A producer surplus is the amount a buyer is willing to pay for a good minus the cost of producing the good.
Hence, a marginal seller is the seller who would leave the market first if the price were any lower.
Answer: $15,909.09
Explanation:
Nominal GDP is the value of goods and services that is calculated on the basis of current year prices whereas Real GDP is the value of goods and services that is determined on the basis of Base year prices. If we are using the identical price for both the years for calculating GDP then we can see the increment in the current year GDP from the last year. This means that the quantity of goods produced in the current year is larger than the last year. That's why it is important to use Real GDP rather than Nominal GDP.
Given that,
Nominal GDP (millions of dollars) = $14000
Price level (GDP deflator) = 88
Real GDP = 159.09 × 100
= $15,909.09
Hence, Real GDP = $15,909.09.
Therefore, Real GDP is greater than Nominal GDP hence we can say that the amount of good produced is worth more than $14,000.
Answer:
b. The indirect method
Explanation:
The Operating Activity Section Calculates the Net Cash flow from Operating Activities. It can be prepared in only two methods according to IAS 7.The methods are Indirect Method, Direct Method
Indirect Method Reconciles the Net Income for the Year to the Net Cash flow from Operating Activities after adjustments of Non- Cash flow Items, and Adjustments for Working Capital Movements.
Direct Method focuses on the Cash Inflows and Outflows related to the Operating activities to Calculate the Net Cash flow from Operating Activities.These Cash flows results from Receipts from Customers and Payments made to Suppliers and Employees
