This is due to the following reasons:
The curved shape is a representation of the law of diminishing returns. According to this law, there comes a time when an additional production element has less of an impact. Adding more resources to the production process, for example, may result in quite big profits at first.
<h3>What does the production possibility frontier represent?</h3>
- The Production Possibilities Frontier (PPF) is a graph that depicts all of the possible output combinations of two items that can be produced utilizing available resources and technology. The PPF expresses the ideas of scarcity, choice, and tradeoffs.
- A production possibilities curve depicts the possible combinations of two items that an economy can produce. Scarcity is implied by the decreasing slope of the production possibilities curve. The production possibilities curve's bowed-out shape derives from resource allocation based on comparative advantage.
Learn more about Production Possibilities Frontier here:
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Answer: D. Discouraged Worker
Explanation:
a discouraged worker is a person of legal employment age who is not actively seeking employment or who has not found employment after long-term unemployment
Explanation:
we should use income statement to find the new profit and the gross profit first then we can find out the expenses while doing it down on the statement anything which had written expenses is expenses.
Answer:
A. Check attachment for proportion hypothesis test
B. Type I error is to conclude that less than 50% of adults in Suva have a will when actual probability is less than 0.5
Probability of type I error= significance level= 0.05
C. If type I error is zero, then we would not be able to reject the null hypothesis
Answer:
Explanation:
The adjusting entry is shown below:
Wages Expense A/c Dr $6,300
To Wages payable A/c $6,300
(Being the wages are adjusted)
The computation is shown below:
= Five days salaries ÷ number of days in a week × given days
= $10,500 ÷ 5 days × 3 days
= $6,300
So, the wages expense is debited for $6,300 and wages payable is credited for $6,300
