Answer:
... whereas the fish in the private pond are <u>rival in consumption</u> and excludable.
... the fish in the river are an example of <u>common resource</u>, and the fish in the private pond are an example of <u>private good.</u>
<em>* the first sentence is wrong, the fish in the river are nonexcludable since anyone can fish on the river, or at least try to.</em>
Explanation:
If a good is rival in consumption, it means that if one person consumes it, it will lower the ability of another person to consume the good.
If a good is excludable, ten it can only be consumed by those that are willing and able to pay for it.
When a good is both nonexcludable and rival in consumption, it s a common resource.
A private good is both rival in consumption and excludable
The answer is c, the type of renter Insurance must buy
In the rooms because that is where the amenities are located ie the bed comfort, the TV, the view, the room size and then the leaning services and the room service (for food from the restaurants)
Answer:
to maximize profit, farmer must use 0.208 pounds of fertilizers
Explanation:
For profit maximization, marginal revenue must be equal to marginal cost.
Here marginal product of fertilizer= 1-N/200
selling price per busher= $4
total marginal revenue= (1-N/200)× 4
Total cost of fertilizer= 1.2N
To maximize profit
Marginal cost= marginal revenue
1.2N= (1-N/200)× 4
4.8N= 1-N/200
N= 0.208 pounds
to maximize profit, farmer must use than 0.208 pounds of fertilizers
Answer:
The cash collection on September 9 is records by the entry:
Debit Cash $5,300
Credit Accounts Receivable $5,300
Explanation:
Barnes Books allows for possible bad debts. On May 7, the company writes off a customer account. The journal entry:
Debit Allowance for Doubtful Accounts $5,300
Credit Accounts Receivable $5,300
On September 9, the customer unexpectedly pays the $5,300 balance. The journal entries:
1. Debit Accounts Receivable $5,300
Credit Allowance for Doubtful Accounts $5,300
2. Debit Cash $5,300
Credit Accounts Receivable $5,300
