Answer: A. is required to draw up a petition listing all assets and liabilities.
Explanation:
Bankruptcy simply refers to the legal whereby an economic entity is unable to repay their outstanding debts. In this case, the individual or business will need to sell its remaining assets in order to pay the liabilities.
Due to the above reason, then the debtor will be required by the government to list all of their assets and the liabilities that it owns and this will be used in determining whether the obligation has been fulfilled or not.
Answer:1.0 and X and Y are substitutes.
Explanation:
Elasticity is the degree of responsiveness of the change in price to a change in quantity demanded. Cross elasticity considers 2 products.
Old price $10
New price $8
Old quantity 20 units
New quantity 25 units
Formula: (change in quantity demandedY/change in priceX) * (old priceX/old quantityY)
{ (25-20) / ($10-$8) } * (10/20) = 1.25
Decision Rule:
> 0 the 2 products are substitutes
< 0 the 2 products are complements
= 0 the 2 products are independent
From the calculation, the products are substitutes because its Elasticity is greater than 0.
Answer:
$102,000.
Explanation:
The maturity value is the principle + interest.
First calculate the interest:
$100,000 x .06 x (4/12) months = $2,000
Maturity value is $100,000 + $2,000 = $102,000
Answer:
C. Marginal cost will equal average total cost when marginal cost is at its lowest point.
Explanation:
Marginal cost is the cost of each extra unit sold or produced. Average total cost is the average cost of all the units which is sold or produced during the period.
If marginal cost equal to the average cost the marginal can not be its lowest point because the lowest point cost will decrease the average cost it will not be equal to average cost, otherwise at the units has same marginal cost.
good to know they have been trying to do that to me too I was so confused
