Answer:
Bad debt expenses = $4,000
Explanation:
Debit Credit
Bad debt expense $4,000
Allowances for doubtful accounts $4,000
Workings
= $5,000 of receivables - $1,000 of Allowance for doubtful account
= $4,000
Consumer Surplus
This is the difference between what consumers are willing and able to pay and what they actually do pay. You may be willing to spend up to $100 on a new pair of shoes but if you find the perfect pair on sale for $20 you will buy those and there will be an $80 surplus.
Answer:
option (d) $200.00
Explanation:
Average total cost for 100 pairs = $2.50
Marginal cost for every pair = $10.00
Now,
Total cost = Fixed cost + Variable cost
or
Fixed cost = Total cost - variable cost
or
Fixed cost = (Average total cost × 100) - (Marginal cost × 100)
= ($2.5 × 100) - ($1 × 100)
= $250 - $100
= $150
thus,
Total cost to produce 50 pairs of oven gloves
= fixed cost + variable cost
= $150 + (50 × $1)
= $150 + $50
= $200
Hence,
option (d) $200.00
Individuals who give up looking for work because they don't feel that there are good prospects of finding a job are known as <span>discouraged workers.
Correct answer: D
</span>These type of workers have not found no suitable employment options in the past so they believe that <span>there aren't any jobs for them and they are</span> discouraged to search for a job.
