Answer: Pure monopolists do not always realize economic profits.
Explanation:
Even though Pure Monopolies are the only sellers or makers of a good in a market and can therefore set their own prices, this does not mean that they will always make a profit talk more an economic one.
In the short run for instance, a Pure monopoly could see its average cost higher than its average revenue because some factors of production could not be varied. In this scenario, the monopolist would realize economic losses.
Answer and Explanation:
The journal entry is as follows;
Supplies expense Dr ($2,130 - $1,253) $877
To Supplies $877
(being the supplies expense is recorded)
Here the supplies expense is debited as it increased the expenses while on the other hand the supplies is credited as it decreased the assets. Also both the accounts contains normal debit balance
Answer:
B. Watching TV
Explanation:
Opportunity Cost is the cost of <u>next best alternative</u> forgone while choosing an alternative.
Eg: If I can consume apples & oranges, I like apples more than oranges. The opportunity cost of apples consumption is the next best option i.e oranges forgone.
As per given preferences : Book Reading > Watching TV > Listening Music
( '>' refers to preferred over)
The opportunity cost of Book reading is the next best option sacrifised i.e Watching TV.
Answer:
Ashley used 87 pounds of type B coffee
Explanation:
4.3a + 5.9b = 749.80
a + b = 142
b = 142-a
4.3a + 5.9(142-a) = 749.80
4,3a + 5.9(142-a) = 749.80
4.3a + 837.8 - 5.9a = 749.80
4.3a - 5.9a = 749.80 - 837.80
-1.6a= -88
a= -88 / 1.6 = 55
55 + b = 142
b= 142- 55 = 87
That is the way we get how many pounds of type B coffee Ashley used
Answer: (A) RFP
Explanation:
The RFP is stand for the Request for proposal and it is one of the type of business related document that is used by various types of organizations and the companies for the purpose of outlining the actual needs for the given project.
According to the given question, the RFP is the document that is used to solicit bids from the supplier as it it sent to the prospective suppliers for the specific competitive bids and the best bid is basically selected by the committee of capital investors.
After the selection process, the best supplier gives all the asset and the regular expenditure process of the specific organization. Therefore, Option (A) is correct answer.
