B is your answer :) please mark me brainliest
Answer:
Lawyers fees would probably decrease
Explanation:
If there's a large supply of lawyers than the demand for them will drop, causing fees to drop.
Answer:
Cost of Goods Sold 70 Inventory 70
Explanation:
For recording the inventory in the book of accounts, we consider the cost or net realizable value whichever is lower
According to the question, the inventory unit for A would be recorded at $655, and the inventory unit for B would be recorded at $505 as these reflect the lower cost.
The journal entry is shown below:
Cost of goods sold A/c $70 ($575- $505)
To Inventory A/c $70
(Being adjusted entry recorded)
Answer:
Demand Curve is same as Average Revenue (AR) curve.
Total Revenue, Marginal Revenue, Average Revenue have been solved below
Explanation:
The demand curve that Vesoro faces is identical to 'Average Revenue' <u>curve</u>. As, AR curve represents average price (P) buyers are willing to pay for a quantity of a commodity.
Average Revenue (AR) is total revenue (TR) per unit quantity. AR = TR/ Q. Total Revenue is the total revenue for all quantities, TR = P x Q
So, Average Revenue = (P x Q) / Q = P ie price. This states that average price willingness to pay is same as AR, demand curve is AR curve.
Assuming perfect competition constant price = $5
Q P TR= PxQ AR= TR /Q MR (marginal revenue = TRn -TRn-1)
0 5 0 0 _
1 5 5 5 5
2 5 10 5 5
3 5 15 5 5
Using line depreciation method,
Depreciable cost = Cost - Salvage value = $40,900,000- $4,090,000 = $36,810,000
Depreciation per year = Depreciable cost/life = 36,810,000/15 = $2,454,000
After third year of use,
Depreciation expenses = $,2,454,000*3 = $7,362,000
Book value = cost - depreciation expenses = 40,900,000 - 7,363,000 = $33,538,000
