Answer:
C. Jim produces 20 jackets a day in his garment factory and hires labor used to produce that profit maximizing quantity
Explanation:
Derived demand is when the demand for a good or service is as a result of demand for another good or service.
Derived demand is when there's a demand for a factor of production or intermediate good as a result of demand for a good or service.
I hope my answer helps you.
Answer:
$15,000
Explanation:
Realized gain is the profit that is exceeded from the expense for a particular years. Realized loss is the loss that resulted from the excessive expense.
To determine the net realizable gain or loss, we can use the following formula -
Realizable Gain (loss) = Sale amount of tangible assets + mortgage purchasing - purchase price
Given,
Sale amount of tangible assets = $30,000
purchase price = $85,000
mortgage purchasing = $70,000
Putting the value into the formula, we can get-
Realizable Gain (loss) = $30,000 - $70,000 - $85,000
Therefore, Realizable Gain (loss) = $15,000
Answer:
a. This type of study is known as probability sampling.
b. Since we’d like to make sure the survey represents opinions from students of all ages, we can use stratified sampling.
<u>Probability Sampling
</u>
- In probability sampling each element of the population has an equal chance of being selected for the sample.
- Probability sampling helps us to create a sample that is truly representative of the population.
- A sample that truly represents the population ensures that the statistical conclusions are valid.
<u>Stratified Sampling
</u>
In stratified sampling, the population is divided in different classes that are known as strata. Once this classification has been done, we randomly select a sample.
Since our objective for the survey is to collect opinions from students of all years, we can divide the student population into four strata based on age, and select a probability sample from each stratum.
Answer:
$20,200
Explanation:
Bad debt Expense will be calculated using the percentage of debt loss. The expense will be calculated using the credit sales only because in cash sales there is no risk of loss.
Estimated Bad Debt = Credit Sales x Rate of bad Debt loss = $740,000 x 3% = $22,200
As Allowance for Doubtful Accounts already have balance of $2,000, we need to adjust the remainder to make the closing balance of Allowance for Doubtful Accounts $22,200 at the year end.
Adjustment required = $22,200 - $2,000 = $20,200
The Expense will be $20,200.
Answer:
d. the interest rate will fall.
Explanation:
If the number of people that save money is more than the number of people that demand for investment, then production rate will reduce, and if investment demand is more than savings, production will increase. And if there is an increase in interest rate, consumption rate will fall because spending on consumption will be more expensive and consumer will prefer to save for higher interest rate.
Therefore in situations where there is an increase in saving and the interest rate does not affect the consumption rate, there will be a fall in the interest rate.