Compare and contrast how people have historically treated natural resources and how this might change, using your new understanding of scarcity, conservation, and private property.
Answer: In the past people treated natural resources as an infinite source of wealth and commodity. But now that we know that there are physical limits to nonrenewable resources we have taken a new approach to preserve this resources by taking measures like natural resource management. A great example of this would be a private property regime where the resources benefits and duties fall under the owner(s).
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Answer:
Yes you can of course you can
Answer: 5,000 units
Explanation:
Break-even points in units is calculated by;
= Fixed Costs / Contribution Margin per unit
Contribution Margin
= Sales - Variable Costs
= $40 - ( 40 * 40%)
= 40 - 16
= $24 per unit
Breakeven point
= 120,000/24
= 5,000 units
Answer:
it is not allocatively efficient
Explanation:
Monopoly is a market condition where one seller has all the market share. This leads to an inefficient market structure, an increase in the prices of goods and services and abnormal profits. A problem with adopting a fair return polity for a natural monopoly is that it is not allocatively efficient. In a monopoly, goods and services are not produced to help the economy or people.
Answer:
Debit Delivery truck for $36,000
Debit Machinery acccumulated depreciatio for $11,000
Credit Machinery for $35,000
Credit Cash for $5,000
Credit Gains on disposal of Machinery for $7,000
Explanation:
The entries will be as follows in the book of Haley's Hamburger's
<u>Details Dr ($) Cr ($)</u>
Delivery truck 36,000
Accumulated dep. - Machinery 11,000
Machinery 35,000
Cash 5,000
Gains on disposal of Machinery 7,000
<em><u>To record an exchange of some long-term assets with Barry's Burgerlicious.</u></em>
