Answer:
The equilibrium daily wage rate is $150.
Explanation:
The equilibrium price and equilibrium quantity take place where the supply and demand curves intersect each other. The equilibrium take place when the quantity demanded is same as the quantity supplied.
Consider the data provided.
Wage per Quantity demanded Quantity supplied
day per day per day
$10 8,000 10
$25 5,000 500
$50 4,000 1,000
$100 3,500 2,000
$150 3,000 3,000
In this case, it is clear from the table that the quantity demanded is same as the quantity supplied when the wage per day is $150.
Also consider the graph attached.
The intersection point of the two graphs is at ($150, 3,000).
So, the equilibrium daily wage rate is $150.
Answer: The correct answer is "d. The income statement for a given year is designed to give us an idea of how much the firm earned during that year.".
Explanation: The statement "d. The income statement for a given year is designed to give us an idea of how much the firm earned during that year." is CORRECT because In accounting, the income statement is a financial statement that shows in an orderly and detailed way how the result of the year was obtained during a given period.
This financial statement is closed, since it covers a period during which the costs and expenses that gave rise to its income must be perfectly identified. Therefore, it must be perfectly applied at the beginning of the accounting period so that the information presented is useful and reliable for decision making.
Answer:
Carpenter will have to pay taxes for a recognized gain of $150,000
Explanation:
When you are calculating taxes, you must use the adjusted a¿basis of the buildings.
Paul is exchanging a $450,000 building + $75,000 in cash for a $375,000 office building.
Paul's realized loss = $525,000 - $375,000 = $150,000
therefore Carpenter's recognized gain = $150,000
<span>Sociological imagination. which is applying imaginative thought to creating and answering sociological questions. The term was coined by the American sociologist C. Wright Mills in 1959. It can be used in daily life. Simply looking at any event, issue, or activity using a different perspective is sociological imagination</span>
Answer:
a. As a result of the price increase in corn, the supply of corn would increase. At the same time, the amount of acreage used in corn production would increase.
b. The most likely cause of the change in the amount of acreage used in corn production is:
A. The higher price signals suppliers that corn is becoming more valuable.
Explanation:
With corn as the major ingredient for the production of ethanol biofuel the demand and supply of corn increase to match with the increasing price. Suppliers, on their part, increase production by utilizing more acreage of land devoted for corn production. This is the typical interplay between the market forces that drive market equilibrium.