The best illustration of the economic concept is scarcity. Thus the correct option is (C).
<h3>What is Scarcity?</h3>
Scarcity refers to the limited or the shortage of the natural resources in the particular region. It is an economic concept which defines that there is the shortage to the infinite needs of the human beings because resources are finite.
According to the illustration the corner offices in the high rise building has the high rent because of the limited number of the high rise offices and the huge demand of the location.
Thus the correct option is (C).
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<u>Explanation:</u>
The negative externalities such as pollution which is the most common externalities of the companies is handled by the government using the pollution taxes. By increasing the taxes for companies making pollution the product prices will increase and the demand for those products will decrease.
Landfill is also increasing over the years by manufacturing companies. Government imposes landfill taxes to these companies. So the companies try to recycle the rubbish by themselves than dumping in public property.
Plastic bag tax is another tax that is implemented on the business providing free bags for the customers. This is an additional cost to business so they use recyclable bags or paper bags.
So by imposing regulations, taxes and laws government is able to control negative externalities.
Answer:
Retained Earning (Dr.) $295,000
Stock Dividend Payable (Cr.) $295,000
To record stock dividend
Retained Earnings (Dr.) $157,800
Cash (Dr.) $157,800
To record cash dividend
Explanation:
Statement of Shareholder's Equity
Retained Earnings Beginning Jan 21 $1,275,000
Net Income $2,250,000
Cash Dividend $157,800
Stock Dividend $295,000
Retained Earning Ending $3,072,200