The Correct 1 unit and 15 units are the outputs produced by domestic and foreign producers with free trade assuming there is no tariff.
<h3>What is a
free trade?</h3>
This refers to an international business policies that occurs when goods and services can be bought and sold between countries without tariffs, quotas or other restrictions being applied.
This policy tends to increase the volume of international trade among member countries and also allow them to increase their specialization in their respective comparative advantages.
Hence, in the graph given, the Correct 1 unit and 15 units are the outputs produced by domestic and foreign producers with free trade assuming there is no tariff.
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Answer:
The correct answer is option d.
Explanation:
Cartels are generally formed in oligopoly markets. In such markets there are few firms which are interdependent. So, they form cartels to enjoy monopoly power.
Though cartels are generally short lived and difficult to maintain. The reason behind this is that each firm has the incentive to deviate and produce more than their quota in order to capture more market share.
So, option d is the correct answer here.
Answer:
Dr Land $146,440
Cr Common stock (3,380 shares×$12 par value) $40,560
Cr Paid in Capital in excess of Par common stock $105,880
Explanation:
Arasota Company Journal entry
Dr Land $146,440
Cr Common stock (3,380 shares×$12 par value) $40,560
Cr Paid in Capital in excess of Par common stock $105,880
Answer:
Expenses will be understated, hence, Net Income will be overstated.
Rent prepaid will be overstated, hence, current assets will be overstated.
Explanation:
Ordinarily, rent prepaid is meant to be credited every month to the tune of the the value that has been consumed and then added to period expenses to reduce net income.
In the statement of Financial Position, the same amount that has been consumed should be used to reduce balance in rent prepaid account, otherwise, current assets will be overstated if no adjustment is made.
