The answer is $275,000 this is because this is the last accepted offer on the land. All others are appraisals or offers but not the recorded value of the land.
Answer:
Marginal utility is the benefit of consuming additional unit of a product and it is inversely proportional to price.
Explanation:
Utility is the satisfaction derived from consuming a particular product.
As consumption continues, marginal utility is the benefit of consuming additional units of the product. Marginal utility reduces as consumption increases.
So the consumer is less willing to buy at current price. However the consumer will be more willing to buy more at a reduced price.
The campus bookstore is using the knowledge of this by selling the first mu for $10 and subsequent one for $6. The consumer will still be willing to buy at the reduced price.
Answer:
(a) $15
(b) $35
(c) 4
(d) $80
Explanation:
Given that,
Initial deposit = $20 bill
Required reserve ratio = 25%
(a) Money lend out by bank is as follows:
= Amount of deposit - Reserve requirement
= $20 - ($20 × 0.25)
= $20 - $5
= $15
(b) Money in the economy changed:
= Initial deposit + Amount of money lend out by bank
= $20 + $15
= $35
(c) Money multiplier:
= 1/ Required reserve ratio
= 1/ 0.25
= 4
(d) Money will eventually be created by the banking system:
= Change in deposits × Money multiplier
= $20 × 4
= $80
You should establish it immediately
Answer:
DR Cash $589
DR Credit Card expense $31
CR Sales $620
<em>(To record sales via credit card)</em>
<u>Working</u>
Cash
= 620 * ( 1 - 5%)
= $589
Credit Card Expense
= 620 * 5%
= $31