Answer:
Mikhail's gains 10 carpets and 10 quilts from the trade. Dominique's also gains 10 carpets and 10 quilts from the trade.
Step-by-step Explanation:
Step 1: Capacity
Mikhail's can make 160 carpets or 160 quilts per month.
Dominique's can make 120 carpets or 200 quilts per month.
Step 2: Before Trade
Mikhail's makes 80 carpets and 80 quilts per month.
Dominique's makes 60 carpets and 100 quilts per month.
Step 3: After Trade:
Mikhail's makes 160 carpets per month.
Dominique's makes 200 quilts per month.
Trade = 70 carpets for 90 quilts.
Mikhail's now has 160 - 70 = 90 carpets and 90 quilts.
Dominique's now has 70 carpets and 200 - 90 = 110 quilts
Step 4: Gains from Trade:
Mikhail's gains 90 - 80 = 10 carpets and 90 - 80 = 10 quilts from trade.
Dominique's gains 70 - 60 = 10 carpets and 110 - 100 = 10 quilts from trade.
In Ancient times, constellations were used to create and track the calendar so they knew when to plant crops and harvest them. Constellations were also used for navigation and to help sailors travel across oceans.
Answer:
A) Dr. Encumbrances – Office supplies No entry
Cr. Encumbrances outstanding
Explanation:
The journal entry is given below;
For Governmental fund financial statements
Encumbrances-Office Supplies $1,500
To Encumbrances Outstanding $1,500
(Being Office Supplies ordered is recorded)
For Government-wide financial statements
No journal entry is required as under the accrual accounting, no entry should be recorded until the transaction does not arise
Therefore the option a is correct
Answer: Reduce output
Explanation:
According to the given question, the barrel O' Biscuits is one of the type of perfectly competitive organization in which its overall marginal cost increasing the company's marginal revenue.
For maximizing the profit of an organization then we should reduce the output as in the perfect competition the company majorly affected the output only and for shift the overall marginal cost of the company we reducing the output.
Therefore, Reduce output is the correct answer.
