Answer: An inefficient firm is unable to achieve as much output as the production function shows.
Explanation:
The Production function shows the maximum amount of output that can be produced by a company given the a certain number of inputs which are usually capital and labor.
At each combination of the input therefore, the function shows how much a company should be able to produce. If a company is therefore inefficient and unable to use its inputs effectively, it will be unable to produce at the point it is to be producing at given the combination of inputs they are using.
Answer:
B. Cost of goods sold will be too low by $5,000.
Explanation:
Overstatement in closing inventory has two effects. First in income statement, that the cost of goods sold is decreased by the same amount that is overstated. Second is overstatement of Inventory value in the asset section of balance sheet. According to the given scenario The effect of this event should be as cost of goods sold will be too low by $5,000.
Answer:
8%
Explanation:
Calculation for the annual market interest rate on the bonds
Using this formula
Annual market interest rate=(Interest expenses/Carrying value)× 2 payments per year
Where,
06/30/2021 Interest expenses=$7,581
01/01/2021 Carrying value =$189,516
Let plug in the formula
Annual market interest rate=
($7,581/ $189,516)×2 payments per year
Annual market interest rate=0.04×2 payments per year
Annual market interest rate=0.08×100
Annual market interest rate=8%
Therefore the the annual market interest rate on the bonds will be 8%
Answer:
The correct answer is c. incorrect because wages and prices tend to be highly inflexible downward.
Explanation:
When there is unemployment the demand curve slopes downwards but wages and prices are inflexible downwards. The above statement is therefore incorrect because the wages and prices are highly inflexible and the workers may not be willing to work for a lower pay. This is highly dynamic and depends on the workers choices and needs.
Answer:
The correct answer that fills the gaps are: Involved; knowledge.
Explanation:
A mercant is the person who is usually engaged in work that also helps in the economy. The owner of a business establishment is also named that way. In commercial law, the term merchant refers to its subject of subjective study, that is, to people who are subject to specific regulation by this branch of law. In this sense, people who, in a habitual way, are engaged in any of the activities that the law considers mercantile ("commercial acts") are merchants. Habituality constitutes an essential element of the definition: not every person who performs an occasional act of commerce (for example, who buys in a store) becomes a merchant, but is only considered a merchant from the perspective of Commercial Law who is dedicated to trade as usual.