Answer:
When goods were sold to Shiva :
Shiva A/C Dr Rs.10,000
To Sales A/C Rs.10,000
(Being goods sold to Shiva)
When goods are being returned by Shiva :
Sales Returns A/C Rs.2000
To Shiva A/C Dr Rs.2000
(Being goods returned by Shiva)
When Cash is received from Shiva :
Cash A/C Dr Rs.8000
To Shiva A/C Rs.8000
(Being Cash received from Shiva)
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If Country B has an absolute advantage over Country A in producing bicycles, it must also have a comparative advantage over Country A in producing bicycles - False
<h3><u>
Explanation:</u></h3>
When any organisation has the ability to produce a product identical to its competitor company in such a way it utilizes only lesser amount of the given resources producing more product then it is said to have absolute advantage. Comparative advantage refers to the ability of a firm in producing a particular goods or services at a lesser marginal cost when compared with the opportunity cost.
Absolute advantages helps a firm to reduce its production cost than its competitors. Comparative advantage helps a firm in reducing the opportunity cost. It is not necessary to have a company to have both absolute and comparative advantage at the same time. It can either have absolute or comparative advantage.
Answer: decrease; decrease
Explanation:
Agriculture is food production and sales, when there is a decline in prices of food it would affect the workers wages and reduce employment.
Answer:
<h2>The answers in this case would be options A. B. and D.</h2>
Explanation:
- In Microeconomics or Production Economics,economies of scale refers to a phenomenon under which any firm or company is able to reduce or control its per unit cost of production or the average cost of production and increase the overall production or output level simultaneously.
- Natural monopolies can arise due to consistent economies of scale.As any firm or company is able to consistently reduce or control its average cost of production as the production or output level expands,it can obtain a significant competitive or cost advantage in the market over its market counterparts or rivals.Hence,successful and consistent exploitation of economies of scale can eventually give rise to natural monopolies.
- Any monopoly firm or company produces the output level at which the marginal revenue or the additional or incremental revenue obtained from selling one more unit of the output is equal to the additional or incremental cost incurred to produce that 1 more unit of output or the marginal cost.This output level is the profit maximizing output of any monopoly.Therefore,natural monopolies also produce the output level and charge per unit output price which correspond to the equality between marginal revenue and marginal cost of production.
