Answer:
A.
Explanation:
An improve in technology will allow firms to produce in an effective way therefore, with the same resources, firms will produce more units. This will cause an increase in total supply: at the same price, firms will offer more units. In this case, at prices $1, $2, $3, $4 and $5 the new quantities will be 6,8,10,12. In the demand and supply graph, this looks as shift to the right of the supply curve (figure attached).
It is not option B because the problem says increase in quantities "at these prices". It is not option C because an increase in taxes will increase costs of production, thus firms will decrease units of production. It is not option D because changes in income will affect demand.
Answer:
1)Transfer payment
2)Firm
3)Public good
4)Property right
5)Factor market
6)Household
7)Circular flow diagram
8)Product market
9)Regulation
10) factor payment
Explanation:
1)An expenditure for which the government receives no good, service, or resource in return.:
(Transfer payment)
. 2. A privately owned organization that produces goods and services and sells them to others.:
( Firm)
3. A good or service that can be consumed by many people at once and that other people can't be prevented from using.:
( public goods)
4. A legal claim of owners
hip.: A legal claim of ownership
(Property right)
5. A market in which resources are exchanged for money.
(Factor market)
6. Consists of an individual or a group of people who live together and share income, such as you and your family.
(Household)
7. Models the interactions between key players in the economy.:
(Circular flow diagram)
. 8. A market in which goods and services are exchanged for money.:
(Product market)
9. A rule of conduct passed by federal, state, or local governments.:
(Regulation)
10. A payment for the use of a resource.:
( Factor payment)
Answer:
$45,500 is the correct answer.
Explanation:
Answer: 920
Explanation:
Since the transaction took place in November, we should note that revenue should be recognized for 2 months by Taylor.
The amount that Taylor should recognize as revenue in 2018 will be:
= 5520/12 × 2
= 460 × 2
= 920
