Answer:C
Explanation: this quantity is allocatively inefficient because the marginal cost of producing the last lawnmower exceeds the marginal benefit to consumers.
Consumer income has no correlation with the equilibrium price of a product. Thus the price will c. Not change
Explanation:
When the consumer income increases, they will be able to buy a product more if they require it and if they do not require it they are able to spend that money or save it up as they please to.
As equilibrium price of a product is completely dependent upon supply and demand correlation.
The income of the consumer has little to do with it unless a relation between increased income and increased demand is established, there is little evidence to show that there will be a fluctuation in the prices of the grass seed in this case.
He needs to add %4 more apple juice because %12 - %8 = %4
Accounting cycle has various steps to discuss, which are listed below,
Explanation:
- The first step in accounting cycle is to analyze and have a record of transactions.
- Post closing trial balance is an optional step in the accounting cycle.
- Journalizing and posting the closing entries are the steps required to complete throughout the accounting period.
- Adjustments of accounts, preparing the financial statements and closing accounts are completed at the end of accounting cycle period.
- The last step in the accounting cycle is to post closing trial balance.