Answer:rival in consumption and non- excludable
rival in consumption and excludable
common resource
private good
Explanation:
The fish in the river are considered ___rival in consumption __ and __non-excludable ___ whereas the fish in the private pond are _rival in consumption____ and _excludable____. In other words, the fish in the river are an example of ___common resource__, and the fish in the private pond are an example of ___private good__.
Answer:
an understatement of assets and an understatement of revenues.
Explanation:
Financial accounting is an accounting technique used for analyzing, summarizing and reporting of financial transactions like sales costs, purchase costs, payables and receivables of an organization using standard financial guidelines such as Generally Accepted Accounting Principles (GAAP). Examples of financial statements includes Balance sheet, cash-flow and income statement.
Financial reporting can be defined as the formal communication or disclosure of financial information and statements to present and potential users such as investors and creditors.
Hence, failure to prepare an adjusting entry at the end of a period to record an accrued revenue would cause an understatement of assets and an understatement of revenues.
Answer:
c. $1,600
Explanation:
Using high low method we have
Highest cost = $75,000 for 29,000 hours in the month of February.
Lowest Cost = $52,200 for 20,000 hours in the month of January.
Variable Cost per unit = 
Or
$52,200 = 20,000 V + F
$75,000 = 29,000 V + F
$22,800 = 9,000 V
$2.53 = V
20,000 V = $50,600
$52,200 - $50,600 = $1,600
Fixed Cost = $1,600
Answer: 3
Explanation:
The marginal rate of substitution simply means the rate at which one good will be exchanged for another good based on the current market price.
Since you like servants three times as much as robots, this implies that the utility that one gets from one servant is exactly like the utility that will be gotten from three robots.
Therefore, the utility function will be:
U = 3X + Y
Then, the marginal rate of substitution will be:
= MUX/MUY
= 3
The decision making method that Wilma uses is the bounded rationality. It is a type of decision making with only a short time they acquire in deciding up decisions in which Wilma has been doing in the scenario above. This type of decision making also allows a person to decide with only the few decisions that couldn't suffice them. This decision making is being portrayed in the given scenario above.
