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lubasha [3.4K]
3 years ago
8

When words are insufficient to explain the quantitative relationship between two variables(i.e., stimulus andresponse, cause and

effect), economists often
1. spreadsheets
2. flow charts
3. mathematical equations
Business
1 answer:
pentagon [3]3 years ago
7 0

Answer:

3. mathematical equations

Explanation:

When word do not show the relationships between variables as much as economists want, mathematical equations are used. Also graphs are used to explain relationships between variables.

cheers

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The prepaid insurance account had a balance of $3,000 at the beginning of the year. The account was debited for $32,500 for prem
Nitella [24]

Answer:

A.  Date   Account Title                 Debit        Credit

                Insurance expense      $30,700

                ($3000+$32500-$4800)

                       Prepaid insurance                  $30,700

B.   Date   Account Title                Debit          Credit

                 Insurance expense     $30,700

                          Prepaid insurance                 $30,700

5 0
3 years ago
suppose the absolute values of the intercept and slope of the demand function are approximated to be 10 and 3 respectively. if t
egoroff_w [7]

The equilibrium price is $0.5 while the equilibrium quantity is 8.5

From the Demand data that we have in this question,

Slope = 3

Intercept = 10

The demand equation

D = -3p + 10

D = 10 - 3p

The supply data

Slope = 5

Intercept  = 6

Supply equation

S = 6 + 5p

D = S

This is because at equilibrium, <u>supply = demand</u>

Therefore,

10-3P = 6+5P

collect like terms

10-6 = 3p+5p

4 = 8p

Divide through by 8

p =\frac{4}{8} \\\\= \frac{1}{2}

Equilibrium price = $0.5

The equilibrium quantity

D = 10 - 3*0.5

= 10-1.5

= 8.5

Therefore from the calculation, the equilibrium price is $0.5 and the equilibrium quantity is 8.5

Read more on brainly.com/question/16689858?referrer=searchResults

3 0
2 years ago
Question:
Vanyuwa [196]

Answer:

Received investment of cash by organizers and distributed to them 1,000 shares of $1 par value common stock with a market price of $40 per share

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Cash                            $40,000

Common stock @ 1                      $1,000

Add-In capital Common Stock   $39,000

Purchased $15,000 of equipment, paying $3,000 in cash and owing the rest on accounts payable to the manufacturer

                                      Dr.            Cr.

Equipment                 $15,000

Cash                                           $3,000

Account Payable                       $12,000

Borrowed $10,000 cash from a bank

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Cash                            $10,000

Bank Loan                                 $10,000

Loaned $800 to an employee who signed a note.

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Note Receivable      $800

Cash                                             $800

Purchased $13,000 of land paid $4,000 in cash and signed a mortgage note for the balance

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Land                            $13,000

Cash                                            $4,000

Mortgage Note Payable            $9,000

6 0
3 years ago
Jack, Jamie, Ronnie, and Stephan own the only computer software manufacturing companies in the country. When Jack increases the
Likurg_2 [28]

Answer: Perfect Competition

Explanation:

This is a situation prevailing in a market in which buyers and sellers are so numerous and well informed that all elements of monopoly are absent.

6 0
3 years ago
Read 2 more answers
Old School Publishing Inc. began printing operations on January 1. Jobs 301 and 302 were completed during the month, and all cos
Juli2301 [7.4K]

Answer:

WIP inventory       68,000 debit

Factory Overhead   8000 debit

     Raw Materials Inventory   76,000 credit

WIP inventory         55.000 debit

Factory Overhead  12,400 debit

  Factory Payroll payable       77,400 credit

WIP inventory       31,250 debit

   Factory overhead      31,250 credit

Finished Goods Inventory 73,750 debit

           WIP inventory              73,750 credit

Explanation:

<em><u>Direct Materials used:</u></em>

10,000 + 20,000 + 24,000 + 14,000 = 68,000

<em><u>Direct Labor used:</u></em>

8,000 + 17,000 + 18,000 + 12,000 = 55,000

<u>Overhead Applied:</u>

6,000 + 12,750 + 13,500 + 9,000 = 31,250

Overhead rate:

6,000 /  8,000 =  0.75

12,750 / 17,000 =  0.75

Finished goods:

24,000 + 49,750 = 73,750

7 0
3 years ago
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