Demand is the quantity of a good or service for which a consumer is willing to buy and a company is willing to sell at a given price at a specific time. For the entire market, the demands for the buyers are summed to find the market demand.
Answer:
A confidence estimate.
Explanation:
Confidence estimate is a statistical representation for the possiblity of occurance of any event. The confidence estimate is shown by using interval of estimate, it also known as confidence internal estimation. It show an approximate value of the unknown parameter of probablity distribution. It is useful as defence against judgmental biases.
Answer:
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Explanation:
Answer:
For a profit maximizing firm , the statement that will be true is A) they will attempt to maximize the difference between total revenues and total costs.
Explanation:
The basic formula that is used to calculate profit is -
Profit = Total revenue - Total cost
Profit maximization is a concept according to which a firm who is looking for maximizing its profits, should choose that optima level of output where its marginal cost ( cost that is incurred because of producing one additional unit of good ) and marginal revenue ( change in revenue because of change in sales ) are same.
When the marginal revenue is greater than the marginal cost , it means that the revenues generated by producing additional quantity of goods is greater than the cost incurred on producing them, so hence we can say that for maximizing profit , a firm would want that the gap between revenue and cost is higher.
Answer:
Adjusting entry amount shall be $ 5,100
Explanation:
Computation of adjustment to Allowance for Doubtful accounts
Accounts Receivable balance $ 170,000
Percentage of allowance for Doubtful accounts 5 %
Allowance for Doubtful accounts - $ 170,000 * 5% $ 8,500
Existing balance of Allowance for Doubtful accounts <u>$ 3,400</u>
Adjusting entry to Allowance for Doubtful accounts $ 5,100