Answer:
B) $4.67
Explanation:
By definition marginal revenue is the revenue generated by the sale of one more unit of product Z.
Marginal revenue = unit price
Since firm X participates in a perfectly competitive market, it is a price taker, and since the marginal revenue is constant, we can assume that this is the equilibrium price of product Z.
Answer:
B) government spending and taxes that automatically increase or decrease along with the business cycle.
Explanation:
The two most common automatic stabilizers are: income taxes and unemployment benefits.
When the economy is strong, people make more money, and income tax revenue automatically increases.
On the contrary, when the economy is weak, or in recession, people earn less, and more of them are unemployed. Unemployment benefits therefore increase accordingly.
Answer:
1. Prepaid insurance (Dr.) $6,300
Cash (Cr.) $6,300
2. Cash (Dr.) $15,300
Unearned Income (Cr.) $15,300
3. Purchases (Dr.) $1,750
Accounts payable (Cr.) $1,750
Cost of Goods Sold (Dr.) $1,620
Ending Inventory (Dr.) $130
Purchases (Cr.) $1,750
4. Prepaid office rent (Dr.) $6,300
Cash (Cr.) $6,300
Explanation:
The adjusting entry is a journal entry recorded at end of accounting period to adjust events or transactions to comply with the accrual concept.
The closing entries are journal entries required to close a transaction or event in the period. The purpose is to follow matching concept of accounting.
For the statement "The payoff matrix represents hypothetical profits that could be earned by two milk..." and the Milky Mose table Both will cheat Option C. This is further explained below.
<h3>What is a
payoff matrix?</h3>
Generally, payoff matrix is simply defined as when one player's tactics and those of the other are represented in a table called a payoff matrix, they are listed in rows.
In conclusion, In order to get an edge, both parties will engage in dishonesty. As a result, both parties will be tempted to cheat in order to gain an unfair advantage.
The payoff matrix below represents hypothetical profits that could be earned by two milk sellers who have formed a cartel. Each seller must decide if they want to cheat or not to cheat on the production quotas in the cartel agreement. Use the payoff matrix to answer the questions below. Does either member have an incentive to cheat? Heifer's Gold will cheat, but Milky Moo will not. No, neither has an incentive to cheat, Yes, both will cheat. Milky Moo's will cheat, but Heifer's Gold will not
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Answer: employees want the extra money more than they want to work at a pace that feels comfortable
Explanation:
A standard hour plan is based on the units that employees produce and once that unit is met, a set hourly wage is paid to the employees and an incentive can be given once the standard number of hours is exceeded.
It should be noted that a standard hour incentive plan is likely to be successful if employees want the extra money more than they want to work at a pace that feels comfortable. This will motivate them to work for extra hours since they want the extra money.
