Answer:
A. Mary produces only cakes while Tim produces only pies
Explanation:
I will start by describing the concept called comparative advantage. Comparative advantage can be described as a businesses ability to produce at a reduced or lower opportunity cost than others. Given this definition, we can see that Mary's opportunity cost of producing cakes is lower than Tims opportunity cost. So Mary has an advantage over Tim in the production of cakes. So the answer to this question is A. Mary should specialize in the making of cakes while Tim should specalize in pie making
Answer:
The banking industry is one of the fast growing industry globally.
The major liability of the bank is the total deposit made by various individual, household, and firms.
The basic assets of a bank is the loan it lend out to its customers and the reserve it keeps with the the central bank. For instance, in Nigeria, all commercial banks are expected to be #25 billion naira with the central bank of Nigeria.
Banks are profit maximize, each banks constitutes its management with well-trained finance practitioners who specializes in wealth maximization. The bank keeps minimum reserve for profit maximization.
Explanation:
Answer:
understate the impact of a tax for substitutes and overstate the impact for complements.
Explanation:
Partial equillibrum analysis is consideration of only a part of the market to attain equillibrum. It is based on data that has restricted range. For example when the price of one good changes while others are held constant. This does not consider real life scenario that multiple prices are changing.
In this type of analysis there is less emphasis on tax on subsititutes and more for complements. This is because a single product is being considered and compliments share similar demand pattern so they are considered more.
There are numerous reasons why it is a good idea to know the engine size of a vehicle. The size of an engine will let a driver know the horespower that the car has. It will also let the person know how much fluids are needed in the car such as oil, transmission fluid, radiator fluid, etc. The size of the engine is also needed when a person goes to buy a battery for the car. The size of the engine is also needed when you go and buy parts for the car.
Answer:
d. $1050.
Explanation:
We multiply each account balance by the expected uncollectible amount and then addd them to get the expected total for doutful accounts
Balance of the allowance account: 100
The expense will be the adjustment made on the allowance to get the expected balance of 1,150
1,150 - 100 = 1,050
we increase the allowance bu 1,050 to get our expected uncollectible fro maccounts receivable agaisnt the bad debt expense ofthe period.