Answer:
The correct answer is B. demand for good X will increase.
Explanation:
Two goods, X and Y, are said to be substitutes if they can be used to serve the same purpose. Thus, if good X is a substitute to good Y, then X can be used in place of Y and Y can be used in place of X.
For substitute goods, the cross-price elasticity of demand is positive. This means that if the price of one good rises, the demand for the substitute good increases.
Answer:
B.the law of increasing opportunity cost
Explanation:
PPF is graphical representation of product combinations that an economy can produce, given resources & technology
It is downward sloping because - given same resources & technology, one good 's production can be increased by decreasing production of other good.
Resources are assumed to be unequally efficient in production of resources. Shifting production from one good to other occurs with increasing Marginal Opportunity Cost (amount of good sacrifised to gain an additional unit of the other good.
This makes slope of PPC i,e MOC to rise & makes it concave i.e outward bending
It has the name of component the atomic number and the amount of atoms and protons that are in the component
Answer: See explanation
Explanation:
a. This is not a loss contingency. A loss contingency occurs when the value of an asset is reduced because of an occurence on the future. This isn't the case here as a separate sales transaction occured.
b. To account for it, we have to defer the revenue as a liability and then we will use the straight line basis to calculate the warranty expense.
2. Dr Cash $412,000
Cr Unearned revenue - extended warranties $ 412,000
(To record the sale of extended warranty)
Dr Unearned revenue - extended warranties. $57937.50
Cr. Revenue - Extended Warranties $57937.50
(To record revenue earned on extended warranty)
Process costing: It is a costing system which is used for manufacturing companies which involves more than one process in production of goods. It uses cost per equivalent units and equivalent units in production in order to transfer costs to its finished goods inventory and ending WIP.
What is weighted average method?
- The weighted average takes into consideration the relative significance or recurrence of a few variables in a information set.
- A weighted average is in some cases more precise than a straightforward average. In a weighted average, each information point esteem is increased by the doled out weight which is at that point summed and separated by the number of information points.
- For this reason, a weighted average can progress the data's accuracy. Stock financial specialists utilize a weighted average to track the fetched premise of offers bought at changing times.
To know more about weighted average method visit:
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