In a common-sized income statement, each item is expressed as a percentage of net income. TRUE
Commonplace-size earnings statement is the vertical evaluation of the income statement. A vertical analysis indicates all gadgets as chances and now not in absolute figures which affords a higher assessment. each line object is expressed as a percent determined by the base parent within the declaration.
A not unusual length earnings statement is an earnings declaration wherein each line item is expressed as a percent of the price of revenue or income. it's far used for vertical analysis, in which each line object in a monetary assertion is represented as a percentage of a base figure inside the assertion.
Commonplace length statements are usually expressed in the form of percentages. therefore, such statements are also known as a hundred according to cent statements or factor percent statements as all of the individual items are taken as a percent of 100.
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Explanation:
It is an simplified version which makes us to understand and observe the "economic behavior"
It purely uses mathematical concepts and simplify the information and show only important or highlighting information.
You can alternatively use "economic theory" instead of "economic model"
A good economic model, will make the user to understand the complex information with the help of key pointers.
There are 2 broad classification of Economic model:
1. Theoretical
2. Empirical.
The commonly used economic model is the classic model, which constitutes of "The law of demand and the law of supply"
Answer:
$0
Explanation:
Given that
Estimated value of the meals = $1,300
Preparing cost of lunch = $560
Cost of the meals to the power company = $470
The income that is recognized from the meals should be zero as he took the lunch from the office premises only which is to be excluded while computing the gross income
Plus, he also likes to eat his lunch at the plant cafeteria due to nuclear emergencies
From the graphs presented for both the perfect competition and monopoly, the price for 5 purses in perfect competition is $30 and that in the monopoly is $50. The price is obviously lower in the perfect competition than in monopoly by $20. Thus, the answer would be letter C.
