Answer
The answer and procedures of the exercise are attached in the following archives.
Step-by-step explanation:
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
Answer:
D. Market supply and market demand determine the price and quantity bought and sold in the market.
Explanation:
In perfectly competitive market, equilibrium price and quantity is determined at the point where the aggregate supply curve and aggregate demand curve intersect.
If either supply or demand changes, the supply/demand curve will shift to intersect the demand/supply curve at a new equilibrium point.
In other words, although both suppliers and buyers are price-takers they both influence price and quantity bought and sold,<em> at the aggregate level</em>.
Answer:
for $16000 plan B is better than A
Explanation:
We are searching for the stage where Plan A's compensation is less than Plan B's compensation.
Plan A < Plan B
let total of Curt's sales be the x,
x is the basis of the commission under Plan A, but the first 5000 of sales are excluded i.e (x - 5000) from the basis of commissions under Plan B.
350 + x(0.10) < 750 + (x - 5000)(0.15)
800 -750 < (0.15) x - 5000(0.15) - (0.10)x
50 < (0.15 - 0.10)x - 750
50+750 < (0.05)x
800 < (0.05)x
16000 < x
Answer: $18,000
Explanation:
Given that,
Began 2018 with a Normal balance = $5,000
Ended 2018 with a normal balance = $11,000
Unearned Revenue account was credited = $24,000
Revenue earned by professor in 2018 :
= Beginning unearned revenue + Advance payments - Ending unearned revenue
= $5,000 + $24,000 - $11,000
= $18,000
Therefore, $18,000 revenue earned by professor in 2018.
