Answer:
D. Assigning property rights to individuals
Explanation:
Tragedy of Commons refers to over exploitation of Common Pool resources : which are Non Excludable (can't be feasibly prevented to be consumed by non paying consumers) , Rivalrous (its consumption reduces its availability to be consumed by other consumers) . Eg : Grazing Land , Fishing Pond
It can be reduced by : Government Intervention or Private Property Rights . Government intervention (not Subsidy) can be rather about legislation & laws , regulatory mechanisms about monitoring the usage of such resources. Private ownership can solve this by adding the element of excludability element to such resources , channelising its utilisation only for efficient purposes , not for wastage .
Answer: Elastic
Explanation: When a good has close substitutes a small change in the price of the good will lead to a large change in its demand as consumers will switch to the less costly substitute good. Therefore, good with many close substitutes is likely to have relatively elastic demand, since consumers can easily choose to purchase one of the close substitutes if the price of the good rises.
Answer:
Residual income = $666,270
Explanation:
The residual income is the amount left after the opportunity cost of capital deducted from the net operating income
Operating income=Contribution margin -Fixed cost
Operating income= 1,050,000 - 325,500= $724,500
Residual income = Net income - (cost of capital × capital invested)
=$724,500 - (18% × 323,500)= 666270
Residual income = $666,270
Extraordinary attaining students because teachers do not have to spend time functioning with slow learners. In addition, the bell curve richard hernstein and charle murray contended that the important alterations in IQ among numerous races and ethnic clusters are clarified by genetic heritage.
Explanation:
The adjusting journal entry is presented below:
On September 30
Unearned ticket revenue A/c Dr $75,000
To Ticket revenue A/c $75,000
(Being the unearned ticked revenue is recorded)
The computation is shown below:
= Season tickets sale value × number of games ÷ given number of gains
= $200,000 × 3 games ÷ 8 games
= $75,000