When engaging to the allowance method, when there is a
presence of having to written off a specific amount in the allowance method,
what would likely happen is that there will be no change in terms of the total
assets so the likely answer is letter a.
With the price increase in tutoring from $5 to $15, producer surplus increases by <u>$10</u>.
<h3>What is producer surplus?</h3>
Producer surplus is the additional benefit that the tutors receive. It can be computed by determining the difference between old tutoring price, $5, and the new market price of $15. The implication is that while tutors are willing to accept $5, the new marketing price has made it possible for them to increase their surplus by $10 ($15 - $5).
Thus, the producer surplus increases by $10 to show the increased benefit that suppliers receive for selling their services in the marketplace.
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Answer:
$220 billion
Explanation:
GNP is $200 billion
Factor income from the rest of the world is $10 billion
Factor income to the rest of the world is $30 billion
Therefore the GDP can be calculated as follows
= $200 billion + (30 billion- 10billion)
= $200 billion + 20 billion
= $220 billion
Hence the GDP is $220 billion
Answer:
Simultaneous Shifts in Demand and Supply
In this market, the change in supply may have resulted from:
b. an improvement in technology.
Explanation:
An improvement in technology is the only correct option that can cause the change in supply from S1 to S2. Wage increases for the workers increase the cost of production, which can decrease sales volume. Similarly, a decrease in the number of sellers will most likely reduce sales volume instead of increasing it.
