Answer:
What to produce?
Explanation:
What to produce?
Due to the fact that resources are scarce, a producer has to decide what he wants to produce.
In the question above, the consumer has decided to produce consumer goods.
How to produce?
The producer has to decide on the optimal production method to employ. It has to decide whether a labour or technology intensive production method would be better .
For whom to produce?
A producer has to answer this question in order to be able tailor his product to perfectly suit his target customers. The producer has to decide if to produce for young people, middle aged people or the elderly or sell to the poor or rich.
I hope my answer helps you
Answer and explanation:
The budgeted balance sheet is an accounting report stating the current period's initial balance for each account according to the results of the previous period. After that, managers consider the investment and expenditure plans for the current period to schedule the company inflows and outflows. Finally, government policies are taken into consideration to find out how they can affect the company's projection in the short and long run.
Answer:
$104,000
Explanation:
Calculation to determine what Gross profit would be
Using this formula
Gross profit=Sales -Cost of Goods Sold -Sales Returns and Allowances-Sales Discounts
Let plug in the formula
Gross profit=$300,000-$158,000-$26,000- $12,000
Gross profit=$104,000
Therefore Gross profit would be $104,000
Answer:
Richard can deduct $1600 as real property tax during the current year.Only the tax amount paid by the mortgage company from the escrow account to taxing authority can be claimed as deduction.
Answer:
The correct answer is option A.
Explanation:
The law of diminishing returns states that as we go on employing more and more unit of input while keeping other inputs constant, the return from each additional unit of input will go on declining.
This means that the output produced from each additional unit of input will go on declining.
Here, as capital is kept constant and labor is increased by a unit, the output at first increases by 5 units from 20 to 25. But later when input is again increased by a unit, the output increase by only 3 units from 25 to 28.
This shows the law of diminishing marginal returns where the marginal returns from a unit of labor is declining.
