Answer:
The answer is C.
Explanation:
In a competitive market, all firms produce identical goods and services. No firm or seller can influence the prevailing market price. To increase their revenue, firms must increase their outputs.
In this industry, firms make economic profit(revenue minus accounting cost minus implicit cost) in the short run but this economic profit reduces to zero in the long run because more firms that are attracted by the short run profit can enter the industry freely. Firms can also exit with little or no cost.
Supreme Court judges differ from other judge because they are nominated and chosen by congress, also they are prepared and trained to be fair since the Supreme Court is very important and very important decisions are taken there.
Answer:
<u>II and III</u>
Explanation:
According to the IRS tax guidelines this two scenario matches them correctly;
The statement that James is Patti's brother, <em>would imply</em> that he (James) would not recognize any income from the sale to be deducted as tax.
Second, assuming Patti is an art dealer and she sold the painting to James because she needed cash quickly, James would not recognize any imputed income from the sale.
Answer:
The answer is D. assets minus current liabilities
Explanation:
Net working capital is the difference between current asset and current liability. Examples of current asset are inventory, cash, accounts receivable etc. while current liability is accounts payable. It is a measure of company's liquidity.
Working capital management ensures that a company has adequate access to meet its necessary day-to-day operating expenses while making sure that the company's asset are invested in the most productive way.
All other options are not the definition for net working capital.
Answer:
-3; -(1/3) inferior good
Explanation:
Price elasticity of demand for Pepsi-Cola is as follows:
= {(50 - 100) ÷ ((50 + 100) ÷ 2)} ÷ {(50 - 40) ÷ ((50 + 40) ÷ 2)}
= -3
Given that,
Increase in income = 3%
Decline in demand = 1%
Income elasticity of demand:
= Percentage change in quantity demanded ÷ Percentage change in income
= (-1) ÷ 3
= - (1/3)
As there is a inverse relationship between the income of the consumer and the demand for a good, so this is a inferior good.