Answer: The answer to your question is C.
Answer:
gain of $5,000
Explanation:
Wolf's gain = fair market value - book value = $45,000 - $40,000 = $5,000
a company must determine the gain or loss of an exchange transaction using the asset's book value and comparing it against its fair market value. If the FMV is higher than the book value, the company will recognize a gain. If the FMV is lower than the book value, then the company will recognize a loss.
Answer:
The answers are:
A) total output should increase
B) total output should decrease
C) total output should be kept the same
D) total output should be decreased
Explanation:
A) consumers are willing to pay a higher price; the quantity supplied should increase
B) if Marginal cost > Marginal benefit; the quantity supplied should decrease
C) if total surplus is at maximum; the equilibrium point between quantity demanded and quantity supplied will remain the same
D) if the quantity supplied exceeds the quantity demanded; to reach an equilibrium point, the quantity supplied should decrease to match the quantity demanded
All economic systems must answer the 3 basic questions:
1. What goods and services will be produced
2. How will the goods and services be produced?
3. Who will consume the goods and services?
<h3>An LLC also known as a Limited Liability Corporation is a type of business often pays similar taxes as that of a sole proprietorship or a partnership depending on whether there are one or more members. An LLC is normally formed by one or more people and they are given an EIN number which is their business ID number whereas a sole proprietor will use their social security number as their business ID number. </h3>
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