Answer:
The correct answer is the first option: To impose a minimun price per gallon of tap water consumed that is five cents greater thant the actual price.
Explanation:
To begin with, if the local government is looking forward to reduce the consumption of the tap water due to the decrease in the level of water in the lakes of Chapel Hill, then it must impose a minimum price per gallon of tap water consumed that is five cents greater than the actual price <u>due to the fact that when the citizens continue to consume the tap water they will have to pay 5 cents more every time the exceed the gallon of water consumed</u>, therefore <em><u>paying more than one time the 5 cents extra</u></em> in the consumption instead of paying just one single time the 5 cents due to the simple consumption of water as it is suggested in the other option.
To sum up, if the government charges 5 cents more every gallon of water then the people will decrease their consumption because everytime they passed the gallon of water then they will have to pay another extra 5 cents and so on.
Answer:
Using the adjusted balances, give the closing entry for the current year.
Explanation:
1
Db Insurance expense 6000
Cr Prepaid expenses 6000
2
Db Wages payable 4000
Cr Cash 4000
3
Db Depreciation expense 9000
Cr Accumulate depreciation 9000
4
Db Income tax expense 7000
Cr Tax payable 7000
Answer:
d) will become an importer of tomatoes.
Explanation:
Consumer surplus would increase because the price at which they buy tomatoes would reduce while producer surplus would reduce because the price of tomatoes would reduce as a result of international trade.
Consumer surplus is the difference between the willingness to pay of a consumer and the price of the good.Because the price of tomatoes in the US is greater than the price of tomatoes in the world, when the US begins international trade, it would import tomatoes because it is inefficient in the production of tomatoes.
Producer surplus is the difference between the price of a good and the least price the seller is willing to sell the product
