The BEST description of the economic system of the United States is <u>D. free-market capitalism.</u>
<h3>What is free-market capitalism?</h3>
Free-market capitalism is known for the following features:
- Private individuals control the factors of production.
- It is a purely capitalist economic system.
- The laws of supply and demand regulate production, labor, and the marketplace.
- An unregulated system of economic exchange reigns.
- Non-existence of or minimal presence of centralized economic interventions.
The best description of the economy of the United States is not:
- Marxism
- Command
- Socialism
- Closed economic system.
But the BEST description of the economic system of the United States is <u>D. free-market capitalism</u>.
Learn more about free-market capitalism at brainly.com/question/3369578 and brainly.com/question/600577
Answer:
which of the following is not considered a credit?
overdraft fee
Explanation:
Answer:
The cost of the work transferred-out during May is $18,630
Explanation:
For computing the cost of work transferred, first we have to compute the conversion cost per unit and material cost per unit
The conversion cost per uni = Conversion cost ÷ (transferred units + work in progress)
= $11,160 ÷ (2,700 + 300 × 30%)
= $11,160 ÷ (2,700 + 90)
= $11,160 ÷ 2,790
= $4 per unit
Now, material cost per unit = Material cost ÷ (transferred units + work in progress)
= $8,700 ÷ (2,700+300)
= $8700 ÷ 3,000
= $2.9 per unit
So, total cost of the work transferred is equals to
= Transferred units × conversion cost per unit + transferred units × material cost per unit
= 2,700 × $4 + 2,700 × $2.9
= $10,800 + $7,830
= $18,630
Hence, the cost of the work transferred-out during May is $18,630
Answer:
Yes that is true because revenue= price multiply by quantity so if price increases then revenue will increase. the total revenue for sellers will be greater in elastic curves because the quantity supplied is increased by a larger amount than the increase in price and they wil earn more revenue and vice versa will inelastic supply curve.
Answer: d. Liza faces economies of scale; Sam faces diseconomies of scale; Tina faces constant returns to scale
Explanation:
Economies of scale occurs when the increase in production by companies brings about a reduction in cost. Diseconomies of scale is when a rise in production leads to an increase in cost as well. For a constant return to scale, the cost remains the same.
Therefore, the answer will be option D "Liza faces economies of scale; Sam faces diseconomies of scale; Tina faces constant returns to scale".
