Answer:
(1)=A (2)=D
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When money is used as a standard of value, a person is when money is used as a standard of value, a person is purchasing a necessity.
The Standard of value is an agreed-upon well-worth for a transaction in a country's medium of alternate, which include the U.S. greenback or Mexican peso. A trend of fee lets in all merchants and financial entities to set uniform charges for items and offerings. This trend is important in an effort to keep a strong financial system.
While economists say that money serves as a unit of account, they suggest that it's far: a financial unit for measuring and comparing the relative values of products.
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Answer:
(a) the cost of the goods sold for the September 30 sale and
(b) the inventory on September 30.
- Ending inventory = 9 units at $17 = $153
Explanation:
date transaction units unit price total
1 beginning inv. 23 $16 $368
5 sale -13 ($208)
17 purchase 24 $17 $408
30 sale -25 ($415)
30 ending inv. 9 $17 $153
When we use first in, first out (FIFO) inventory method, the price of the units sold are calculated using the oldest units in inventory.
The COGS of the units sold on Sept. 5 = 13 units x $16 = $208
The COGS of the units sold on Sept. 30 = (10 units x $16) + (15 units x $17) = $160 + $255 = $415
Ending inventory = 9 units at $17 = $153
Answer:
The correct answer is: Keep the production constant.
Explanation:
To begin with, a monopoly is a type of market that is characterized by the existence of just one seller in the industry, that commonly focuses in the sale of an unique product.
To continue, the monopolist will maximize its profits in the point where the marginal revenue equals the marginal cost so therefore that in the case presented the monopolist should keep the production constant and do not decrease or increase it, because that action will make it to loss profits.
In conclusion, the quantity that the monopolist is producing now must keep constant because that quantity maximize the profits.