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Andre45 [30]
3 years ago
5

The amount of a good that must be given up to produce another good is the concept of:

Business
1 answer:
Vesna [10]3 years ago
3 0
E.) Opportunity cost is the cost associated with giving up one opportunity for the benefit earned by another.
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If demand for farmer​ john's maple syrup is​ inelastic, then when farmer john raises the price of maple​ syrup, his total revenu
dybincka [34]

If demand is inelastic, this means that the amount demanded doesn't change with the increase of price. In this case, if John were to raise prices, we assume that quantity demanded would stay the same and John would make more revenue.

7 0
3 years ago
Camp Elim obtains a $125,000, 6%, five-year installment note for a new camp bus on January 1, 2021. The note requires monthly in
kirza4 [7]

Answer:

Option (B) is correct.

Explanation:

The Journal entry is as follows:

Interest expense A/c Dr. $625

Note payable A/c       Dr. $1791.60

To cash                                            $$2,416.60

(To record the first month’s payment on January 31, 2021)

Working notes:

Monthly interest expense:

= (Note payable × Interest rate per annum) ÷ 12 months

= ($125,000 × 6%) ÷ 12 months

= $625

Note payable = $2,416.60 - $625

                       = $1,791.60

5 0
2 years ago
On the food label for a package of crackers, what does a 15 percent daily value for iron mean?
Tanya [424]
A 15% percent daily value for iron means that one serving of the cracker provides 15 percent of the iron that the average person needs each day.
The Daily Value or the DVs for short is an indicator that shows information about the nutrient that can be provided in one serving of the food for an average person. The average person is a healthy adult who consumes exactly 2000 calories a day which became an indicator basis for The Daily Value<span>.</span>
6 0
3 years ago
Read 2 more answers
Lexis Company purchased equipment on January 1, 2012 for $35,500. The estimated useful life of the equipment was 7 years and the
Naddik [55]

Answer:

The depreciation expense for 2015 is $2,000

Explanation:

The computation of the depreciation expense is shown below:

= (Original cost - residual value) ÷ useful life

= ($35,500 - $4,000) ÷ 7 years

= 4,500

The depreciation for three years would be

= 4,500 × 3 years

= $13,500

The remaining amount would be

= $35,500 - $13,500

= $22,000

So, the depreciation expense for 2015 would be

= ($22,000 - $4,000) ÷ 9 years

= 2,000

7 0
3 years ago
The __________ frame perspective of a company, deals with how the company is organized, and focused on different groups' respons
Anni [7]

Answer:

Structural frame

Explanation:

Structural frame of an organisation is how the systems are structured including goals, technology, roles of different staff, and relationships. All other frames are dependent on the structural frame, the manager should make sure it achieves the business goals efficiency.

The four frame business model is made up of: structural frame, human resource frame, political frame, and symbolic frame.

4 0
3 years ago
Read 2 more answers
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