Biologists collected a random sample of 850 fish and 25 of them had been previously tagged. 850 : 25 = 34. It means that about 1/34 of all the fishes in the lake had been tagged. Therefore 600 * 34 = 20,400.
Answer: Based on this experiment, in the lake lives 20,400 fishes.
Answer:
a.is an estimate of the length of time the receivables have been outstanding.
Explanation:
The average collection period can be calculated as follows: 365 days in a year divided by the accounts receivable turnover ratio.
Days sales uncollected = Average Account receivable/Net sales*365
A short collection period means prompt collection and better management of receivables. A longer collection period may negatively affect the short-term debt paying ability of the business in the eyes of management.
Answer:
Cash 4,400,200 debit
Discount on BP 89,800 debit
Bonds Payable 4,490,000 credit
Explanation:
The company should represent reality which is what actually occur:
the company issued bonds with a face value of 4,490,000
Then, it receive cash for 98/100 of this ammount:
4,490,000 x 98/100 = 4,400,200
The difference between face value and the proceeds will be a discount when negative and premium when above:
4,400,200 - 4,490,000 = <em>-89,800</em>
as it is negative, this is a discount.
Answer:
2 more cars will be produced in the market equilibrium versus the social optimum. The right answer is a.
Explanation:
According to the given data we have the following:
demand for cars is given by the function P = 75 − 3q
private costs are given by the function P = 10 + 2q
75 − 3q= 10 + 2q
Therefore, 65=5q
q=13
P=36
Therefore, socially optimal number of cars is 13.
To calculate How many more cars will be produced in the market equilibrium versus the social optimum, we have to calculate the following:
social cost=10+2q+10
=20+2q
75 − 3q=20+2q
55=5q
q=11
P=20+2(11)=42
Therefore, Qm-Qs=13-11
Qm-Qs=2
2 more cars will be produced in the market equilibrium versus the social optimum
Answer:
False
Explanation:
The market demand curve in perfect competition slopes downward.
Price is determined by the intersection of market demand and supply; under perfect competition, the individual firms don't have any influence on the market price.
Individual firms become price takers when the market price is determined by market supply and demand forces. Individual firms are forced to charge the equilibrium price of the market or the consumers would purchase the product from the many other firms in the market who are charging a lower price. The demand curve for an individual firm is, therefore, the same as the equilibrium price in the market
All individual firms are price takers in a perfectly competitive market. The price is determined by the intersection of market supply and demand curves.
The demand curve for an individual firm is not the same as the market demand curve. The market demand curve slopes downward, whereas the firm's demand curve is a horizontal line.
The firm's horizontal demand curve indicates a price elasticity of demand that is perfectly elastic
The horizontal demand curve of an individual firm indicates that the elasticity of demand for the good is perfectly elastic. This means that if any individual firm charged a price somewhat above market price, it would not sell any products.
Offering a firm's product at a lower price than the competitors is a strategy usually used to enhance market share. In a perfectly competitive market, firms cannot reduce their product price without experiencing a negative profit. Thus, assuming that each firm is a profit-maximizer, it will sell its output at the market price.
