Answer:
$194,310
Explanation:
The price charged by The J. Escobar Law Firm to the dance club is as follows:
Direct Materials $20,000
Direct Labour <u>$150,000</u>
Total Variable Cost of Jobs $170,000
14.3% Mark up on TVC <u>$24,310</u>
The price charged ro the club <u>$194,310</u>
Answer:
Classification of Economic Resources
Explanation:
Classical economics recognizes three categories of resources, also referred to as factors of production: land, labor, and capital.
Answer:
The correct answer is: non-bank public increases its holdings of currency outside the banking system.
Explanation:
A currency drain refers to the situation where there is an increase in currency held outside the banking system. When the public holds more money outside the banking system, it reduces the total reserves of the banks. The excess reserves get reduced as well.
The currency gets drained from the banking system, so banks can create less money. This causes a reduction in the money supply.
Answer:
Many
Homogenous
There are no barriers
Have perfect knowledge
Explanation:
A perfect competition is characterised by many buyers and sellers of homogenous goods. Because there are many sellers of homogenous goods, firms are price takers.
Because there are no barriers to entry, in the long run, firms earn zero economic profit.
Because buyers and sellers have perfect knowledge of prices, price arbitrage isn't possible.
I hope my answer helps you.
Answer:
False
Explanation:
False because the income, expenses accounts are closed to profit and loss account or income summary.
they are closed by transferring the credit balances in revenue a/c and debit balnace in expenses a/c to clearing account income summary.
The assets and liabilities , common stock, equity account are not closed.
