Answer:
d. the action produces marginal benefits that exceed marginal costs.
Explanation:
The rational person is the person who takes the decision with keeping in mind about its future events and in practicable in nature instead of the emotional nature
When a company earns a net income, its revenue is more than its cost
So a rational person does not act unless when the action generates the marginal benefits that are exceeded from the marginal cost.
Answer:
C) Increases in equity from peripheral transactions of an entity
Explanation:
A) Is the description of Revenue
B) Social capital increase
Even after commencement of business operations, officers and directors have a responsibility to comply with <u>corporate formalities.</u>
Corporate formalities is a term that is used to refer to the operating rules and guidelines that a corporation or business has to or must follow so as to meet its operational requirements. This in turn allows it to maintain the corporate protections that it enjoys.
Corporation refers to an entity that enjoys the backing of a law. It is separate from the directors or owners of the company.
It has the responsibility to comply with the rules and regulations so as to have a proper corporate functioning.
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<span>A company wins a contract to be the sole provider of phone and cable television service for a city.</span>
Answer:
Horses - 0.75 - normal
Clubs- 0.875 - inferior
Diamonds - 1.75 - normal
Diamond is a luxury good
Explanation:
Income elasticity of demand measures the responsiveness of quantity demanded to changes in income of the consumer.
Income elasticity of demand = percentage change in demand / percentage change in income
Income elascitiy for horses = 12% / 16% =
Income elasticity of demand for spades = 14% / 16% = 0.875
Income elasticity of demand for diamonds 28% / 16% = 1.75
A normal good is a whose demand increases when income increases and falls when income falls.
An inferior good is a good whose demand increases when income falls and whose demand falls when income increases.
Horses and diamonds are normal goods because the demand for the goods increases with income while clubs are inferior goods because the demand for the goods falls when income rises.
A luxury good is a good whose demand rises more than the rise in income. The demands for diamonds increase more than the increase in income, so diamonds are luxury goods.
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