Answer:
The average product for the 10 workers is 350 sandwiches per month.
Explanation:
Average product is given by total output divided by total labor used
Total output per month = 3500 sandwiches
Total labor used per month = 10 workers
Average product = 3500 ÷ 10 = 350
Average product for the 10 workers is 350 sandwiches/month
Answer: (a) $197,500
(b) $ 189,500
Explanation:
Given : The marginal cost function :
To find the cost function, we need to integrate the above function with respect to x.
Now, the additional cost incurred in dollars when production is increased from 100 units to 150 units will be:-
Hence, the additional cost incurred in dollars when production is increased from 100 units to 150 units= $197,500
Similarly, the additional cost incurred in dollars when production is increased from 500 units to 550 units :-
Hence, the additional cost incurred in dollars when production is increased from 500 units to 550 units = $ 189,500
Answer:
Explanation:
The adjusting entry for supplies is shown below:
Supplies expense A/c Dr $115
To supplies A/c $115
(Being adjusted entry recorded)
The trial balance show a supplies balance of $148 and the supplies on hand were $33, so the adjusted supply balance would be equal to
= Supplies balance - supplies on hand
= $148 - $33
= $115
Answer:
The sources are various documents written by the OECD: The Organization for Economic Co-operation and Development, and official sources made by the Government of Liechtenstein.
There are many reasons why Liechtenstein has such a high GDP Per capita. The first reason is its political system, which is surprisingly federal, even for such a small state. This means that the different municipalities of Liechtenstein compete among themselves for investment and development, for example, by offering lower tax rates.
The second reason is precisely the economic incentives that the country offers to private businesses. Relatively low taxation, very good infraestructure, well-educated human capital, and closeness to the wealthy markets of Germany, Switzerland, and Austria are among the economic incentives that make Liechtenstein a country with more companies registered (around 70,000) than inhabitants (around 38,000).