Of course equilibrium can only occur at One price.
Answer:
$52,710
Explanation:
Calculation for allowance for uncollectible accounts credit balance
Using this formula
Allowance for uncollectible accounts credit balance=Estimated gross uncollectible accounts receivable *Accounts receivable
Let plug in the formula
Allowance for uncollectible accounts credit balance=7%* $753,000
Allowance for uncollectible accounts credit balance=$52,710
Therefore After adjustment at December 31, 2020, the allowance for uncollectible accounts should have a credit balance of $52,710
Answer:
Labor Demand and Supply
a) Equilibrium Wages = $25 and Equilibrium employment level = 2
b) $30 cannot be the market clearing wage. At $30 labor supply will outstrip labor demand. In that situation, there is no equilibrium of labor supply and demand.
c) If 5 workers are hired at a wage of $30, the wage bill will be equal to $150 ($30 * 5) and the 5 workers will be receiving an economic rent of $5 each ($30 - 25). The total economic rent is $25 ($5 * 5).
d) If workers earn economic rent, it does not mean that they are being overpaid. It simply means that they are being paid above the equilibrium wage.
e) The total wage will be $1,200($30 * 40). The total economic rent gained by the employed union members is $200 ($5 * 40). The economic rent lost by limitation on union labor cannot be quantified with the given information.
Explanation:
a) Data and Calculations:
Demand: LD = 100 − 2W
Supply: LS = 2W
Equilibrium wage and employment level exist where Demand = Supply
i.e. LD = LS = 100 - 2W = 2W
Therefore 2W = 100 - 2W
= 4W = 100
= W = 100/4
= W = 25
Equilibrium Wages = $25
Equilibrium employment level = 2
b) Economic rent is the additional or extra income which a resource earns or generates over the normal earnings as a result of being put to use in its present form. This means that the extra income could be lost without jeopardizing the deployment of the resource to some productive use.
Answer:
Orientation Feature
Explanation:
Orientation feature in Word online allows us to change the placement of the document from portrait to landscape and landscape to portrait on a page. This allows us to print the document vertically or horizontally based on the orientation of the document on the page.
It data or information on the page does not fit or looks good in one orientation it can be changed into other, during a print preview.
In the given list accounts payable is a current liability. Thus, the correct answer is C.
<h3>What is liability?</h3>
The legal debts incurred by a firm to third-party stakeholders are referred to as liabilities. Accounts payable, notes payable, and bank debt are examples of these types of liabilities.
Accounts payable is used to indicate the money owing to suppliers for products or services that were purchased on credit.
Therefore, option C accounts payable is the correct answer.
Learn more about Liability, here:
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