Answer:
A) Q=17
B) $80
C) 518
Explanation:
C(Q) = 60 + 12Q + 2Q2
and its MC = 12+ 4Q
a.How much output should the firm produce in the short run?
Put P = MC and solve for Q
P＝MC
80=12+4Q
4Q=68
Divide both sides of the equation by 4
Q=17
b.What price should the firm charge in the short-run? $80
c.What are the firm’s short-run profits?
Hint:
Profit=Total Revenue-Total CostTotal Revenue=$80x17=1360
TotalCost=60+12x17+2(17)2=60+204+578=842
Profit=1360-842=518
Answer:
Matching principle
Explanation:
<em>The matching principle in accounting states that the income for a period should be matched together to the expenses incurred to generate them. </em>
For example, the insurance premium paid for was meant to cover the following year consumption, hence it is a prepaid expense and should be recognized and treated as an asset at the end of the current year.
Further more, such asset would later be recognized as an expense in the following year when the insurance service would have been consumed.
This violates the matching principle of accounting.
Answer:
The $9 million recovery is an example of <u>Civil Law</u>.
Explanation:
We know that civil law is a body of rules that defines and protects the private rights of citizens. It also offers legal remedies that may be sought in a dispute, and covers areas of law such as contracts, torts, property and family law.
It deals with behavior that constitutes an injury to a person or other private party, such as a corporation.
Since workers rights are violated as they using the sand on a regular basis would expose a worker to a form of cancer, and Mississippi Valley did not alert those who bought the sand about the risk.
Therefore, the $9 million recovery is an example of <u>Civil Law</u>.
Before. Approval for payments should always take place before those payments are made. Imagine if you took your parents credit card and didn't ask for permission until after you spent money online.
