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Inessa05 [86]
3 years ago
11

For m > p2, the demand functions for goods 1 and 2 are given by the equations, x1 =m/p2 - 1 and x2 = p1/p2, where m is income

and p1 and p2 are prices. Let the horizontal axis represent the quantity of good 1. Let p1 = 1 and p2 = 2. Then for m > 2, the income offer curve is:a. a vertical line.b. a horizontal line.c. a straight line with slope 2.d. a straight line with a slope of 1/2.e. None of the above.
Business
1 answer:
dmitriy555 [2]3 years ago
8 0

Answer:

Option B is correct.

<u>A horizontal line</u>

Explanation:

Then for m > 2 , the income offer curve would be a horizontal line.

Income offer curve define as the curve which depicts the optimal choice of two goods at different levels of income at constant price. It is otherwise known as "Income Expansion Path"

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Which animals in the food web are secondary consumer ?​
ValentinkaMS [17]

Answer:

Soooooooooooooo the examples of secondary consumers include bluegill, small fish, crayfish and frogs.

Explanation:

5 0
3 years ago
Steel Company as lessee signed a lease agreement for equipment for 5 years, beginning December 31, 2017. Annual rental payments
balu736 [363]

Answer:

a.

                                                                       Debit   Credit

December 31, 2017

Lease Equipment Under Capital Leases    $166,794  

                                                      Lease Liability    $166,794

December 31, 2017/January 1, 2018

Lease Liability                                        $40,000  

                                                         Cash             $40,000

b.                                           Debit               Credit

December 31, 2018

Depreciation Expense  $23,828  

          Accumulated Depreciation      $23,828

December 31, 2018/January 1, 2019

Interest Expense           $12,679  

Lease Liability          $27,321  

                           Cash                     $40,000

c.                                             Debit     Credit

December 31, 2019

Depreciation Expense        $23,828  

  Accumulated Depreciation  $23,828

December 31, 2019/January 1, 2020

Interest Expense                    $9,947  

Lease Liability                 $30,053  

                Cash                         $40,000

d. Balance Sheet

December 31,2019

Property Plant and Equipment                             Current Liabilities  

Leased Equipment Under Capital Leases $166,794 Lease Liability $33,058

Less Accumulated Depreciation $47,656  

                                                        $119,138                Long Term  

                                                                                      Lease Liability $36,362

Explanation:

a. The journal entries, that should be recorded on January 1, and December 31, 2017, by Steel would be as follows:

                                                                       Debit   Credit

December 31, 2017

Lease Equipment Under Capital Leases    $166,794  

                                                      Lease Liability    $166,794

December 31, 2017/January 1, 2018

Lease Liability                                        $40,000  

                                                         Cash             $40,000

Lease Equipment Under Capital Leases=(40,000*PVIFA(10%,Years = 40,000*4.16986))= $166,794  

b. The journal entries, that should be recorded on January 1 and December 31, 2018, by Steel would be as follows:

                                          Debit               Credit

December 31, 2018

Depreciation Expense  $23,828  

          Accumulated Depreciation      $23,828

December 31, 2018/January 1, 2019

Interest Expense           $12,679  

Lease Liability          $27,321  

                           Cash                     $40,000

Depreciation Expense= (166,794/7)=$23,828

Interest Expense [(166,794 - 40,000)*10%]=$12,679  

Lease Liability=(40,000 - 12,679)=$27,321

c. The journal entries, that should be recorded on January 1, and December 31, 2019, by Steel would be as follows:

                                            Debit     Credit

December 31, 2019

Depreciation Expense        $23,828  

  Accumulated Depreciation  $23,828

December 31, 2019/January 1, 2020

Interest Expense                    $9,947  

Lease Liability                 $30,053  

                Cash                         $40,000

d. The amounts that would appear on Steel's December 31, 2019, balance sheet relative to the lease arrangement would be as follows:

Balance Sheet

December 31,2019

Property Plant and Equipment                             Current Liabilities  

Leased Equipment Under Capital Leases $166,794 Lease Liability $33,058

Less Accumulated Depreciation $47,656  

                                                        $119,138                Long Term  

                                                                                      Lease Liability $36,362

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For example, during the 1800s, many politicians believed that business owners were entitled to exploit their workers in order to make higher profits. As a result of these types of policies, 14 or 16 hour long labor days were common, no safety regulations existed, and the wages were not high. Since governments didn't regulate labor markets, businesses were able to benefit form this and increase total production.

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To improve its standard of living, a nation’s economy must
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To improve its standard of living, a nation’s economy must reach economic equity. It is important that everyone has the capability to access basic services and amenities in a country. Such access is an indicator or a person’s ability to earn wealth. 

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