Answer:
The right approach is Option a (supply of the good).
Explanation:
- Supply would increase substantially of some more production. Increasing the income of established businesses wouldn’t rise, as there has been increasing competitiveness.
- This similar value of the product is likely to decline due to further fulfillment as well as the same requirement. Marginal costs would never be compromised.
Anyone else alternatives possible does not apply to the situation throughout the question. That's the right thing above.
Answer:
The journal entry is as follows:
Cash A/c Dr. $18,000
Equipment (Fair value) A/c Dr. $9,000
To N's capital $27,000
(To record the investment bought by Nichols)
Workings:
Cash contributed by Nichols = $18,000
Equipment's Book value = $6,300
Fair value of equipment = $9000
Nichols capital = $18,000 + $9,000
= $27,000
Answer:
. when an organized body of workers withholds its labor to force the employer to comply with its demands.
Explanation:
Answer:
They are exhibiting confirmation bias
Explanation:
Confirmation bias occurs when a person discards information that does not validate his pre-existing beliefs, and only takes into account the information that does validate those same pre-existing beliefs.
If a decision maker only seeks out information that does not contradict their past judgments, they are exhibiting confimation bias because they are preventing their past judgments and views from being challenged.
Answer:
$5/unit
Explanation:
In the theory of production cost, the relationships between average total cost and marginal cost are as follows:
1. When the average cost is increasing, the marginal cost will be greater than the average cost.
2. When the average cost is decreasing, the marginal cost will be less than the average cost.
3. When the average cost at the minimum, the marginal cost equals the average cost.
Based on number 3 above, the marginal cost when the firm produces 10 units is $5/unit since the firm's average total cost is minimized when it produces 10 units.
