Answer:
False
Explanation:
In a competitive market, if production (and consumption) continues until the marginal benefit of one more unit equals marginal cost, then total surplus is maximized.
As for any extra unit produced
Marginal Benefit > Marginal cost = Surplus
Marginal Benefit = Marginal cost = No Surplus / No loss
Marginal Benefit > Marginal cost = loss
When your Marginal benefit is maximum and Marginal cost is minimum then the surplus will be maximized.
Most efficient situation in which benefit is maximum and the cost is minimum results in maximized surplus.
<span>Often take a commission for their service. The commission could be a flat rate or a percentage of the check. Generally banks do not charge their customers to cash checks. A bank may charge a small fee to cash a check if the person is not their customer.</span>
Answer:
The Journal entries are as follows:
(1)
Equipment A/c Dr. $71,890
To cash $3,790
To accounts payable $68,100
(To record the purchase of equipment)
Workings:
Equipment value:
= Purchase price + Sales tax + Freight charges for shipment of equipment + Installation of equipment
= 64,000 +4,100 + 890 + 2,900
= $71,890
Cash Paid:
= Freight charges for shipment of equipment + Installation of equipment
= 890 + 2,900
= $3,790
Accounts payable = Purchase price + Sales tax
= 64,000 +4,100
= $68,100
(2)
Prepaid Insurance A/c Dr. $1,090
To cash A/c $1,090
(To record any expenditures not capitalized in the purchase of equipment)
The market supply curve represents the sum of the quantities supplied by all the sellers at each price of the good.
<h3>What is the market supply curve?</h3>
The market supply curve is the sum of the individual supply curves of firms. The individual supply curves are added horizontally. The supply curve sloped upward. This shows that there is a positive relationship between price and quantity supplied.
To learn more about supply curves, please check: brainly.com/question/26073189
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Answer: Liability of foreignness
Explanation: In simple words, the extra cost incurred by a company operating in a foreign country as compared to the local companies over there is called the liability of foreignness.
In the given case, the American company incurred extra cost in china due to their lack of local knowledge and discrimination from the locals.
Thus, from the above we can conclude that Malt hanks faced liability of foreignness.
