Suppose a worker is offered a wage of $8 per hour, plus a fixed payment of $100 per day, and she can use 24 hours per day. The Market rate of substituion between leisure & income is $8 per day.
Because the budget line FE describes the opportunities available to a worker who has $100 of nonlabor income per week, faces a market wage rate of $10 per hour, and has 110 hours of nonsleeping time to allocate between work and leisure activities This means that the person will choose the level of goods and leisure that lead to the highest possible level of the utility index given the limitations imposed by the budget constraint.
Leisure is the time when you are free from work or other duties and can relax.
Limitations the act of controlling the size or extent of something the act of limiting something.
Budget is a spending plan based on income and expenses.
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<u>Answer:</u>
<em>As a company grows, it may become necessary for it to create an </em><u><em>Organizational chart</em></u><em> which is a visual display of the organizational structure which contains lines of authority (chain of command), staff relationships, permanent committee arrangements, and lines of communication.</em>
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<u>Explanation:</u>
The organization chart is a chart indicating the connection of one department graphically to another, or others, of an organization. It is additionally used to show the relationship of one office to another, or others, or of one capacity of an association to another, or others.
Using the organization chart continuously, show the "structure of a business", government, or other association. Organization diagrams have an assortment of employments and can be organized from multiple points of view.
Answer:
Asset exchange transaction
Explanation:
Prepaid rent is an asset exchange transaction because cash (asset) is credited while prepaid rent (also an asset) is debited.
Rent paid in advance is recorded as follows:
Dr Prepaid rent
Cr Cash
As the months go by, the prepaid rent is credited and rent expenses is debited.
Dr Rent expense month 1
Cr Prepaid rent month 1
Answer:
Step wise detailed solution is given in the attached diagram
