Teenage entrepreneurship is growing especially in the health industry and saving the environment.
Answer:
Dr. Account Payable $5,700
Cr. Discount Income $114
Cr. Cash $5,586
Explanation:
Term 2/10, net/30 means there is a discount of 2% is available on payment of due amount within discount period of 10 days after purchase and net credit period of 30 days.
According to given data
Purchases = $5,700
As the payment is made within discount period, so discount will be availed
Discount = $5,700 x 2% = $114
Amount to be paid = $5,700 - $114 = $5,586
Answer:
The answer is "increase; LRAS curve to the right".
Explanation:
The curve LRAS represents the flow between all the level of wages and economic GDP supplied because all prices are fully flexible, also with nominal salaries; its cost may change all along LRAS, however, the output cannot, as it represents the complete output of workers, that's why the several economists say that lower marginal rate consistently increases the motivation to work, shifting the LRAS curve to the left.
Answer: The profit at the optimal quantity will be $16.
Explanation: The producer will choose a quantity where,
MC≤MR
This happens at the 4th unit of output. So 4 units will be the optimal quantity.
After the 4th unit profit starts falling. So, the producer will never choose to produce the 5th unit.
