Answer:
A
Explanation:
A budget constraint is a graph that shows all the combination of goods a consumer can consume given current prices and income of the consumer.
If income increases, the budget constraint will shift out parallel to the old
If income decreases, budget constraint will shift in parallel to the old one.
Answer:
$32,000
Explanation:
Cost of goods sold refers to all direct expenses incurred in producing goods and excludes all selling and indirect costs.
Cost of goods sold = Sales value - Gross Profit
Gross profit = Sales value - Direct costs - overhead costs
Gross profit per unit = $120 - ($50 + $ 20 + $10)
Gross profit per unit = $40 per unit
Gross profit in value = $40 per unit × No of units = $40 × 400 units = $16,000
Budgeted sales value = Selling price per unit × Budgeted sales units
= $120 × 400 chairs = $48000
Thus, budgeted cost of goods sold = Budgeted sales value - Gross Profit in value
= $48000 - $16000 = $32000
<u>Note</u>: While computing gross profit, selling and administrative expenses would be excluded since those are used while computing net income. Also, cost of goods sold excludes selling and administrative i.e . indirect costs.
Answer:
$4,455
Explanation:
The computation of total decrease in earnings (pretax) in Morris Dec. 31, 2021, income statement is given below:-
Interest expense upto 31 Dec 2021 = (Total present value of lease payment - Lease payment on July 1, 2021) × 6% × 6 ÷ 12
= ($58,500 - $7,500) × 6% × 6 ÷ 12
= $51,000 × 6% × 6 ÷ 12
= $1,530
Depreciation expense upto 31 Dec 2021 = Fair value of equipment ÷ Useful life × 6 ÷ 12
= $58,500 ÷ 10 × 6 ÷ 12
= $5,850 × 6 ÷ 12
= $2,925
So, the total decrease in earnings (pretax) in Morris Dec. 31, 2021, income statement = Interest expense upto 31 Dec 2021 + Depreciation expense upto 31 Dec 2021
= $1,530 + $2,925
= $4,455
Answer:
The correct answer is letter "A": Perfect Competition.
Explanation:
Perfect Competition is a theoretical framework of the market, in which competition is as high as possible. In perfectly competitive markets, <em>all firms sell an identical product, all firms are price takers, all firms have a relatively small market share, buyers have complete information about the product and prices, </em>and <em>the industry is characterized by low to no barriers to enter and exit a business</em>. Perfect competitive markets do not exist in real life.
Thus, <em>if the price a consumer is willing to pay for a product is greater than its marginal cost, that individual is likely in a perfectly competitive market.</em>
Rhetoric was the primary element of composition and speaking speech delivery in classical Greece and Rome, both of which were essential abilities for individuals to utilise in both ancient public and private life.
Citizens in ancient Greece spoke for themselves rather than having experts, such as modern lawyers, speaking on their behalf. One can better understand the present by studying history. Consider studying ancient history if you're interested in learning how the art of public speaking has changed over time. About 2,500 years ago, in ancient Athens, public speaking was invented. Men were expected to speak as part of their civic responsibilities, which included doing so in legislative bodies and in court.
To learn more about ancient, click here.
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