Based on the fact that the average cost of interplanetary space to fly a 100-seat spaceship between Mars and Amsterdam is $100 million, then the $100 million is not marginal.
<h3>Which cost is marginal?</h3>
Marginal cost refers to the additional cost that we incur for wanting an additional unit of a product or service. This means that it is not an average score because it is concerned with one additional unit while the average is based on all units.
The $100 million for going into space between Mars and Amsterdam is an average cost. It is therefore not a marginal cost and cannot be grouped as one.
The first part of the question is:
Identify whether the scenario is an example of a marginal cost, marginal benefit, or neither.
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Answer: A centrally planned economy has a central authority that makes all the economic decisions.
Explanation: Unlike the market economies where economic decisions like price are made by private organizations and individual consumers, a centrally planned economy which is also referred to as command economy, is an economic system that has a central authority (e.g government) that controls and dictates the economic decisions that has to do with the production, distribution and price of goods.
Answer:
Of course a sales agent can be involved, although they will probably charge a fixed amount and not a sales percentage. Many people probably need the help of a sales agent to fill out legal forms, including contracts, etc. Not everyone has the knowledge to prepare them or simply fill them out, and a sales agent can be helpful.
Answer:
Reason : To ensure constant flow of cash
Explanation:
<u>Accrual Basis of accounting</u> records transactions when they meet definition and recognition criteria of Assets, Liabilities,Equity, Expense and Incomes.
This is different from<u> cash-basis accounting</u> which records transactions at the receipt or payment of cash.
Because of <em>timing</em> difference, the cash transactions (cash basis) can happen a late than the day of recognition of the elements (accrual basis).
Hence Revenue services demand that income tax be calculated on accrual basis to ensure a constant flow of cash whenever an entity transact.
