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3 years ago

Identify every authority cited in the opinion (note that some sources may be cited more than once) and then do the following:

Business

1 answer:

Oliga [24]3 years ago

6 0

Answer:

Primary Authorities :

Statues, regulations, jurisdiction, trial court, cases.

Primary Persuasive Authority :

Constitution, legislation.

Secondary Persuasive Authority :

Law review articles, trial courts.

Explanation:

Primary persuasive authority means law. Following a law is mandatory and statute provides the regulation which are required to be followed or else it will be regarded as crime. Secondary persuasive authority is not law but it leads to the law and helps explain the terms and standards of the law.

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A Perfectly competitive firm’s entire marginal cost curve is its short-run supply curve." Is this statement true or false?

Sphinxa [80]

Answer:

False.

Explanation:

In a perfect competition, there are many buyers and sellers of homogeneous products, and there is free entry and exit in the market.

This simply means that, in a perfectly competitive market, there are many buyers and sellers (price takers) of homogeneous products (standardized products with substitute) and the market is free (practically open) to all individuals or business entities that are willing to trade all their goods and services.

Hence, a perfectly competitive market is characterized by the following features;

1. Perfect information.

2. No barriers, it is typically free.

3. Equilibrium price and quantity.

4. Many buyers and sellers.

5. Homogeneous products.

Examples of a perfectly competitive market are the Agricultural sector, e-commerce and the foreign exchange market

A Perfectly competitive firm’s entire marginal cost curve is not its short-run supply curve but only the portion of the marginal cost (MC) curve of the perfectly competitive firm that lies above its average variable cost (AVC) curve would be its short-run supply curve.

3 0

3 years ago

In a local survey, 100 citizens indicated their opinions on a revision to a local land-use plan. Of the 62 persons giving favora

Thepotemich [5.8K]

Answer: The probability that a randomly selected citizen has a favorable or unfavorable opinion is 1 or 100%.

In this question, we have only two answers favorable or unfavorable.

A person can't have both opinions at the same time.

So these events - favorable and unfavorable are mutually exclusive events i.e one event cannot occur when the other occurs.

Let P(F) be the probability of a person who has a favorable opinion

P(UF) be the probability of a person who has an unfavorable opinion

$\boldsymbol{\mathbf{P(F) = \frac{Total people with favorable responses}{Total people in the survey}}}$

$\boldsymbol{\mathbf{P(F) = \frac{62}{100}}}$

$\boldsymbol{\mathbf{P(UF) = \frac{No. of people with unfavorable opinion}{Total number of people in the survey}}}$

$\boldsymbol{\mathbf{P(UF) = \frac{38}{100}}}$

Now, the probability of either one of two mutually exclusive events occurring is:

$\boldsymbol{\mathbf{P(F or UF) = P(F) + P(UF)}}$

$\boldsymbol{\mathbf{P(F or UF) = \frac{62}{100} + \frac{38}{100} = \frac{100}{100}=1}}$

7 0

3 years ago

Normative statements involve value judgement is these statemen true or false?

KATRIN_1 [288]

Answer:

A normative statement is one that makes a value judgment. Such a judgment is the opinion of the speaker; no one can prove that the statement is or is not correct

Explanation:

3 0

3 years ago

Lake Corporation reported the following amounts in its income statement: Sales revenue $ 440,000 Advertising expense 60,000 Inte

goldenfox [79]

Answer:

Lake's operating income is $120000

Explanation:

Operating income is the income generated by the operations of company less its operating cost. Another name that is used for operating income is Earnings before interest and tax (EBIT). The charges or income relating to non operating or financing activities is not included in the operating income and nor is the tax deduction included.

The formula for operating income = Sales - Cost of Sales - operating expenses.

The operating expenses here, are = Advertising + Salaries + Utilities

Thus, operating expenses = 60000 + 55000 + 25000 = $140000

The Operating Income = 440000 - 180000 - 140000 = $120000

3 0

3 years ago

Read 2 more answers

CompuTronics, a manufacturer of computer peripherals, has excess capacity. The company's Utah plant has the following per-unit c

zavuch27 [327]

Answer:

a. $60.

Explanation:

While computing the relevant cost in case of special order only the variable manufacturing cost is to be considered as it will be changed in special order case.

And the other cot like - fixed manufacturing, variable & fixed selling, traceable fixed administrative cost, etc are not relevant as it remains constant

These costs are not useful for decision making. Hence, it is to be ignored

3 0

4 years ago