examines problems with two or more solutions by establishing criteria with which to compare the alternatives
Answer:
Dimitri, his parents, his two brothers, and his mother’s parents live on a farm in southeast Iowa.
Answer:
Price discrimination is when a producer charges different prices, to different consumers for the same good or service. Therefore, an airline that charges different prices to different passengers for the same flight is practicing a third degree price discrimination because consumers are charged different prices based on their different demand elasticities.
Economic efficiency is when scarce resources are used in the most efficient way to produce maximum output; it consists of productive efficiency and allocative efficiency. For price discrimination to be possible, the firm must have a certain degree of monopoly power; that is, the firm must be a price maker. Monopolies typically fit into this description as they discriminate by charging consumers with an inelastic demand higher prices; this reults in allocative ineffciency because price is greater than the Marginal Cost (P>MC).
On the other hand price discrimination could increase efficiency; price discrimination aims to convert consumer surplus to producer surplus, thereby increasing the profit of the firm. An increase in profits could be dedicated to investement in research and development; this could see such a firm achieve dynamic efficiency (long-run productive efficiency). Secondly, due to the increased profits and the potential for more profits, output is increased and price moves closer to the MC (Closer to allocative efficiency). In addition, an increase output would mean that the firm is making use of its spare/idle capacity in production, moving output towards optimum. From another perspective, a firm can reap economies of scale through price discrimination; this is because price discrimination leads to an increase in output and a reduction in average cost.
Explanation:
Answer: discharged by performance
Explanation:
When parties to a contract are discharged from their duties as per the contract, it means that they are no longer party to the agreement. When this is done by performance, it means that the discharge was done because both parties have fulfilled the demands of the contract.
Bob agreed to tutor Lola for two hours and Lola agreed to pay Bob $50 for that. Bob then tutored her for the two hours and was paid the amount. The parties have therefore fulfilled their obligations to each other and so the contract has been satisfied.
Answer:
Issuance:
Cash 41,397.56 debit
Discount on BP 8,602.44 debit
Bonds Payable 50,000 credit
TRUE. At maturity the Bonds payable account will be debited to indicate the bonds were payed.
Explanation:
C 2,250.000
time 20
rate 0.06
PV $25,807.3227
Maturity 50,000.00
time 20.00
rate 0.06
PV 15,590.24
PV c $ 25,807.3227
PV m <u>$ 15,590.2363 </u>
Total $ 41,397.5591
