The transaction where Livingston company pays utilities of $2,500 in cash, this transaction would be recorded as a Debit to Utilities Expense $2,500 and a Credit to Cash $2,500.
<h3>What is an
utilities?</h3>
It refers to the cost consumed in a reporting period related to electricity, heat, sewer, water expenditures etc. These expenses are necessary for running the business and are variable costs that change based on consumption.
The category is also associated with some expenditures for ongoing telephone and internet service.
In conclusion, this transaction would be recorded as a Debit to Utilities Expense $2,500 and a Credit to Cash $2,500.
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Answer:
A) John will purchase 3 slices of pizza and have consumer surplus of $10.50.
Explanation:
It is assumed that a rational consumer would continue consumption only if marginal benefit is greater or equal to marginal cost.
Marginal Cost here is the cost of the pizza which is $1.50.
After the 3rd slice, the marginal cost becomes greater than marginal benefit, so it expected that John would stop consuming pizza at the 3rd slice.
Consumer surplus is the difference between the willingness to pay of a consumer and the price of the product.
Here the willingness to pay of John is represented by his marginal benefits.
Consumer surplus = ($7 - $1.50) + ($5 - $1.50) + ($3 - $1.50) = $10.50
I hope my answer helps you
Answer: Customer service
Explanation: In simple words, customer service refers to the after sales assistance provided by the company to those individuals who buy their product. It focuses on keeping the customer happy and to maintain positive relationships with them.
This includes teaching customers to use the product, or solving their query or any problem they have with the product etc.
Thus, from the above we can conclude that the right option is B.
The correct answer is C.) The competition in market economies encourages both quality and low prices
Free market economies enable competition and creation of goods for cheap prices more than command economies.