Based on the research studies and situation described, according to Levinson, Jensen is in the <u>Novice</u> phase of adult development.
Daniel Levinson was a famous researcher whose interest centered on different stages of life from childhood to old age.
Daniel Levinson concluded that early adulthood lies between the ages of 17 to 45.
This early adulthood is then categorized into two, the <u>novice</u> phase between 17 to 33 and the culminating phase, which is between 33 to 45.
Thus, given that Jensen is 25, it is concluded that according to Levinson, Jensen is in the <u>Novice</u> phase of adult development.
Hence, in this case, it is concluded that the correct answer is "<u>Novice</u>."
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There would a shift to the right of the supply curve. The equilibrium price would decrease and the equilibrium quantity would increase.
<h3>What is the impact of technological improvement?</h3>
Technological improvement in the production process means that there is an advancement or update in the technologies that are used in the production process. For example, progress from storing information in files to storing information in the cloud is an example of technological improvement.
A technological improvement in the production of a good would make it easier to produce a good. Thus, the supply curve would move forward.
Equilibrium quantity would increase. Due to the increase in quantity supplied, price has to decline in order to induce consumers to buy more of the product. Equilibrium price would decrease.
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Answer and Explanation:
The journal entries are shown below:
1. Allowance for doubtful Accounts Dr $3,500
To Accounts receivable $3,500
(Being the allowance for doubtful account is recorded)
2. Accounts receivable Dr $3,500
To Allowance for doubtful Accounts $3,500
(Being the written off amount is recorded)
3. Cash Dr $3,500
To Account receivable $3,500
(Being the cash collection is recorded)
Only these 3 entries are required
Answer:
Owners have limited liability.
Explanation:
A corporation is an entity , established by shareholders or individuals with the aim of making profit. It is a legal entity hence can enter into a contract, can also sue and be sued.
The legal process involved in the establishment of corporation is called incorporation. It contains the main reason why the corporation is in business, name and office address, types and number of shares to be issued.
Because the business is incorporated and also a legal entity, it means that the owners are protected personally should their be any litigation against the corporation. Moreover, the liability of the owners are limited to the investment in the corporation.
Answer:
700
Explanation:
The condition for maximizing profits is Marginal cost = Price.
1. We need to calculate the marginal cost, which is the first derivative of the total cost function.
- marginal cost = (TC=10000+0.04q2=) '
2. Now, we equalize the MC to the price and solve for q.
0.08q=56
q=56/0.08
<h2>
q=700</h2>
