Answer:
b
Explanation:
A price taking firm is a firm that must sell at the price determined by the forces of demand and supply. This is typical of firms that in industries that sell identical products.
If the firm charges a price higher than equilibrium price, customers would go to other suppliers and the firm would sell known of its product.
There would be no incentive for a firm to sell below equilibrium price because it would be earning losses.
An example of an industry characterised by price taking firms are perfectly competitive industries.
For example, a farmer selling oranges is an example of a price taking firm
Based on the scenario above, Sasha describes herself as what she say is that she is underemployed, whereas the bureaus of labor statsitics will likely classify Sasha as being employed.
-Underemployed
is defined as having a worker to be underused to a job by which the individual’s
skill is not used.
<span>- </span>Employed – it is defined as having to provide
work to an individual and being able to pay them for their work and efforts
Answer:
Option "C" is the correct answer to the following situation.
Explanation:
Bounded rationality is the concept that we make informed decisions but within the constraints of the information available to each other and our intellectual capacity.
Bounded rationality is the belief that the wisdom of people in decision-making is restricted by the knowledge they have, the logical capacities in their brains and the small number of hours they need to make a decision.
Therefore, option "C" is correct answer
Gossip occurs when Jen and Kathy talk about their coworker Ted.
Answer:
Dr Estimated Warranty Liability $8,600
Cr Spare Parts Inventory $8,600
Explanation:
The estimated warranty claim is worth $7,600 which means that the warranty claim must be debited by this amount as it was previously forecasted to be at $11,000 and in this month, the claim was worth $7,600. So decrease in warranty liability is necessary. Furthermore, the Spare Parts Inventory would be credited as the Spare parts would be used to fix the inventory which must be of $7,600 in value.
The double entry to record Warranty Repairs would be as under:
Dr Estimated Warranty Liability $8,600
Cr Spare Parts Inventory $8,600