If corny and sweet grows and sells sweet corn at its roadside produce stand. the selling price per dozen is $3.75, variable costs are $1.25 per dozen, and total fixed costs are $750.00, the breakeven sales will be $ 1, 125. Breakeven sales are computed by dividing the company's expenses with the margin ratio.
Answer:
Dr. Account Payable $5,700
Cr. Discount Income $114
Cr. Cash $5,586
Explanation:
Term 2/10, net/30 means there is a discount of 2% is available on payment of due amount within discount period of 10 days after purchase and net credit period of 30 days.
According to given data
Purchases = $5,700
As the payment is made within discount period, so discount will be availed
Discount = $5,700 x 2% = $114
Amount to be paid = $5,700 - $114 = $5,586
Answer:
Option (C) is correct.
Explanation:
Given that,
Population rises from 40 million to 44 million
Country's Real GDP rises from $825 billion to $890 billion during this same period.
Therefore,
This country experiencing a absolute economic growth because of the rise in real GDP.
Initial per capita growth:
= Initial Real GDP ÷ Initial Population
= $825 ÷ 40 million
= $20.625
New per capita growth:
= Increased Real GDP ÷ New Population
= $890 ÷ 44 million
= $20.227
Above calculations clearly shows that there is a decline in the per capita growth.
Hence, there is an absolute economic growth but not per-capita real.
Answer:
These are the options for the question:
market-based
communist
command
laissez-faire
mixed
And this is the correct answer:
mixed
Explanation:
A mixed economy is an economy that either:
- Mixes state intervention with a free-market economy.
- Has some sectors of the economy run in market-based style, and other sectors in a planned-style.
- Has coexistence of public enterprises and private enterprises.
In the question, we have an example of a mixed economy because in the energy sector (a crucial sector in any economy), there is one public company competing against private companies.
The economy becomes even more mixed when the government lowers the tax rates of the private companies, so that both the public firm and the private firms compete under the same conditions.
The answer is marginal revenue (MR) curve above $22.
Explanation:
Jim and Lisa Groomers will maximize its accounting profit when taking it to 0 its economic profits when marginal revenue = marginal costs.
Economic profits are not the same as accounting profits because they include the opportunity costs of investing the money somewhere else. That is whythe long run firm is not able to make economic profits since as they exist, new competitors will enter the market. But in the case of the shoert run, the firms are able to make economic profit, but by doing so, they cannot maximize their accounting profit.
Economic profit = account profit = Opportunity profit
Opportunity cost are extra costs or benefitslost from choosing one activity or investment over another one.
