Answer:
Even when competitive firms are unable to calculate marginal revenue product directly, <u>competition in the labor market</u> will push wage rates toward the marginal revenue product of labor.
Explanation:
The labor market is made up of employers seeking for labor and employees offering their labor services. The law of supply and demand also applies to this market, when more employers are seeking employees, the price (= salary) will increase.
For example, if many companies are making a profit and they need more labor, the salaries will rise because the demand is rising.
Also the suppliers, the potential employees, compete against each other for the best possible jobs.
Answer:
Explanation:
Bank Reconciliation: The bank reconciliation deals with the bank statement balance and the cash statement balance. The motive is to compare these two statements so that the organization can run in the smoothly manner.
There are various transactions due to which the bank statement balance and the cash statement balance do not match. To match these statements, we adjust the transactions accordingly.
The preparation of the bank reconciliation statement on September 30 is presented in the spreadsheet. Kindly find the attachment below:
Answer:
$395,000
Explanation:
Bad Debt expense:
= 1.5% of sales will be uncollectible
= 1.5% × $1,000,000
= 0.015 × $1,000,000
= $15,000
Allowance for Doubtful accounts:
= Bad Debt expense - accounts receivable written off
= $15,000 - $10,000
= $5,000
Net realizable value:
= Accounts receivable - Allowance for Doubtful accounts
= $400,000 - $5,000
= $395,000
The answer is b-savings back
Answer:
The slope of the consumer's budget constraint is -PA/PB.
Explanation:
The quantity of good A (Q A) is plotted along the horizontal axis, the quantity of good B (Q B) is plotted along the vertical axis.
The price of good A is PA, the price of good B is PB and the consumer's income is I.
The budget line represents the maximum possible bundles of two goods that a consumer can afford by spending his total income. The slope of the budget line will be the ratio of the prices of two goods. It represents the quantity of a good that the consumer needs to sacrifice to increase the consumption of the other good.
So the slope of the budget constraint will be -PA/PB.
