Answer:
producers are "price takers".
Explanation:
Commodity markets is an example of A perfectly competitive market. A perfectly competitive market is characterised by many buyers and sellers of homogenous goods and services.
Because products are homogenous, sellers cannot set the price for their goods. Prices are set by forces of demand and supply,therefore, suppliers are price takers.
There are no barriers to entry and exit of firms into the market.
I hope my answer helps you
Answer:
The correct answer is letter "D": is considered an offer.
Explanation:
A subcontractor is an individual who is granted part of the work of a contractor. Subcontractors perform their duties under the supervision of the contractor and not the employer who hired the contractor. <em>When subcontractors place bids, they are considered offers that can be negotiated with the contractor directly</em>.
Answer:
Debit Credit
Loan Receivable $20,000,000
Cash $20,000,000
Interest Receivable $666,666
Interest Income $666,666
Explanation:
Interest is calculated by multiplying 0.08 by 20 million and then dividing it by 2 because the loan is a 6 month loan. As Aug- Dec is 5 months we will record revenue of 5/6 of the interest.
An asset is credited
an asset is debited