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3 years ago

How do economists define marginal benefit for an individual?

Business

1 answer:

sergiy2304 [10]3 years ago

8 0

Answer:

B) the additional positive value that a person receives from consuming one more unit of a good or service

Explanation:

A benefit is an advantage or gains to someone. In economics, the term marginal refers to an extra unit or one more unit.

Marginal benefit is the additional gain associated with consuming one more unit of a product or service. In this context, the term marginal benefit is used interchangeably with marginal utility. In practice consuming the first unit provides the highest benefit. Continuous consumption result in reduced benefits. In other words, marginal benefits decline with additional consumption.

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Assume that Firm ABC has revenues of $120,000 for both 2017 and 2018. It also has operating expenses of $40,000 for each of thes

ivolga24 [154]

Answer:

1) deferred tax asset = 4000

2) deffered tax Liability = 4000

Explanation:

1) Journalizing entry at 12/31/2017

deferred tax asset = tax ( per income tax) - tax ( per book tax )

= 32000 - 28000 = 4000

J<u>ournal Entry made for Income tax and deferred tax asset) </u>

Account Debit Credit

Income Tax Expense 28000

Deffered Tax Asset 4000

Income Tax Payable 32000

2) Journalizing entry at 12/31/2018

Deffered tax Liability = Tax (per book) - Tax ( Income tax )

deffered tax Liability = 32000 - 28000 = 4000

<u>Journal Entry made for Income tax and deffered tax liability</u>

Account Debit Credit

Income Tax Expense 32000

To Deffered Tax Liability 4000

To Income Tax Payable 28000

3 0

3 years ago

Aerotron Electronics has just bought a used delivery truck for $15,000. The small business paid $1,000 down and financed the res

vladimir1956 [14]

Answer:

a) 12.23%

b) 12.94%

c) 14th month payment interest = $157.33

14th month principal = $369.50

d) 18th month payment interest = $142.04

18th month payment interest = $384.79

e) 22nd month payment interest = $126.12

22nd month payment interest = $400.71

Explanation:

price of truck = $15000

down payment = $1000

Loan amount = $14,000

assume monthly interest rate = r%

Loan amount after 1 year will be = 14000 * (1+r%)12

next we will determine the annuity factor = [ (1/r)-[(1/r)*(1/ (1+r)t)] ]

r = periodic interest rate , t = number of payments

monthly loan payment = $14000*(1+r%)12 / [ (1/r)-[(1/r)*(1/ (1+r)36)] ]

hence r = 1.019%

a) nominal interest rate

= 1.019% *12 = 12.23%

b) effective interest rate

= (1+1.019%)^12 -1 = 12.94%

attached below is the Amortization schedule

c) 14th month payment interest = $157.33

14th month principal = $369.50

d) 18th month payment interest = $142.04

18th month payment interest = $384.79

e) 22nd month payment interest = $126.12

22nd month payment interest = $400.71

3 0

2 years ago

An office management firm has developed a system for efficiently organizing small medical and dental practices both through prop

kolbaska11 [484]

Answer:

achieve economies of scope

Explanation:

Economies of scope -

It is the concept in economics , which is the reduction in the total cost of the production , when some products are produced collectively rather than individually , is known as economies of scope .

Same case is given in the question , where the management have organised medical and dental practices via some unique training program for the staff .

4 0

2 years ago

Alfonzo's Italian House has 25,000 shares of stock outstanding with a par value of $1 per share and a market price of $36 a shar

Liono4ka [1.6K]

Answer:

$18

Explanation:

6 0

2 years ago

What are the three basic questions faced by every economy

Likurg_2 [28]

The three basic questions asked are:

1. What goods and services should be produced?

This is asked because the economy wants to produce what the consumers want or else the resources aren't being used efficiently since resources are scarce.

2. How should we produce them?

This is asked because the producers don't want to spend unnecessary time or money on production, so they must choose wisely what method of production is best for their company and consumers.

3. Who are the consumers?

This is asked because the producers want to make sure that they are targeting the right people with advertising or selling.

Hope this helped!

~Just a girl in love with Shawn Mendes

5 0

3 years ago

Read 2 more answers