The Correct Choice of Answer is Option B
A market to determine an <u>Equilibrium price</u>
- When the market is not operating at its equilibrium level, when supply and demand are equal, market failure occurs. Inefficiencies in the market lead to the issue of efficiency loss (deadweight loss).
- As an illustration, suppose the government levies a tax that causes a difficulty with the inability to establish an equilibrium when supply and demand are equal. a reduction in efficiency (deadweight loss) for both buyers and suppliers
<h3><u>What transpires when prices are balanced?</u></h3>
- The price at which the amount provided and requested are equal is referred to as the equilibrium price. It is established by where the demand and supply curves cross. If the amount of an item or service supplied exceeds the amount sought at the going rate, there is a surplus, and the price is under pressure to decline.
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Answer:
Explanation:
Each of these effects would most likely influence Tommy's order differently. The real-income effect would most likely cause Tommy to buy the large steak and salad regardless of the increase in price since individuals tend to spend more when they start making more money. The substitution effect on the other hand would most likely cause Tommy to order a smaller steak since it costs more but at the same time order, more salad since the price has not increased as the steak did.
To determine the answer to this item, we are first to convert the given cost in the basis of megajoule. Hence, we are to convert kWh to megajoules.
(1 kWh)(1000W/1kW)(1 J/s / 1 kW)(3600 s / 1 h)(1 MJ/10^6J)
= Php 3,600 kwH
Substituting the known values,
($0.09 /kwH)(3,600 kW/h)
= $324
<em>ANSWER: $324</em>
Answer:
B, Customs union.
Explanation:
A customs union is defined as a trade bloc that has a free trade area, where countries with trade pacts have a common external tariff.
Customs union cannot be created without a trade pact and it is usually between two or more countries. This union means that countries with the trade pact between one another can bring in or take out their goods into those countries at a tariff that is lower compared to other countries that have no trade pact with the country or countries.
Cheers.
The following journal entries are to be passed in the books of Moses Supply co. for the year.
<u>Explanation:</u>
date particulars and details debit credit
nov 1 Notes receivable 60000
cash 60000
Dec 11 Notes receiavble 3600
sales 3600
Dec 16 Notes receivable 12000
Accounst receivable 12000
Dec 31 Interest receivable 760
Interest revenue 760
<u>Interest calculation is as follows:</u>
Nov 1 Interest = $60000 multiply 7% multiply 2 by 12 = $700
Dec 11 Interest = $3600 multiply 8% multiply 20by 365 = $16
Dec 16 Interest = $12000 multiply 9% multiply 15 by 365 = $44
Total = $760