The correct answer is a debit.
Even though the value of the inventories decreased from 2016 to 2017, inventories is an asset account. Normal asset accounts have a debit balance.
Answer:
some firms will exit from the market
Explanation:
Roger owns a small health store that sells vitamins in a perfectly competitive market. If vitamins sell for $12 per bottle and the average total cost per bottle is $12.50 at the profit-maximizing output level, then in the long run <u>some firms will exit from the market</u>
A perfectly competitive market consist of many buyers and sellers, different products and perfect information about the price of a good.
Option A. is correct.
You can find the answer on journalofaccoutancy.com
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Answer:
Option (c) is correct.
Explanation:
Comparative advantage states that a country has a comparative advantage in producing a commodity if the opportunity cost of producing that commodity is lower than the other country in terms of other goods. Here, the Country X has a comparative advantage in producing lumber and Country Y has a comparative advantage in producing cars.
So, Country Y will import lumber from Country X and Country X will import cars from Country Y.