Economics is the branch of knowledge concerned with the production, consumption, and transfer of wealth.
Economics focuses on the behaviour and interactions of economic agents<span> and how </span>economies<span> work</span>
Answer:
(A) lower their prices; not raise their prices
Explanation:
- The oligopolistic market and the kinked demand curve show the relationship with the existing prices as the firm rise their prices above the current price the competitors will not follow as they have to maintain strict competition and thus the film will lose the market.
- But if a firm tends to lower the prices the other will follow and they will retain the market shares and the format output will increase marginally.
- Works on the assumptions that prices on the curve are relatively elastic
Answer:
A: A reason for doing something
Answer:
Date Account title Debit Credit
July 1 Bonds Payable $220,000
Premium on Bonds Payable $8,200
Cash $224,400
Gain on retirement of bond $3,800
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<u>Working:</u>
Premium = Carrying value - Par value
= 228,200 - 220,000
= $8,200
Gain on retirement of bond = Carrying amount - Amount paid:
= 228,200 - 224,400
= $3,800