Answer:
A: "Past information can get in the way of learning new things."
Entrepreneurs and other producers accept risks because they hope to earn PROFIT.
Every businesses are set up for the purpose of earning profits. Every venture has its accompanying risks of failure but if everything goes right, then the pay-off will be worth it.
High risks business also have high potential of generating high profit.
Answer:
b. the increase in the interest rate creates an income effect that is greater than the substitution effect.
Explanation:
Interest rate can be regarded as amount that is been charged by lender for using an assets, this asset could be cash, goods, and this is usually display as a percentage of the lent principal.
The income effect gives shows how increased purchasing power can impact consumption, substitution effect on other hands, shows how changing relative income as well prices impact consumption. Both economics concepts give expression of changes that occur in the market as well as how this changes impact consumption patterns as regards consumer goods and services.
It should be noted that the increase in the interest rate creates an income effect that is greater than the substitution effect.
The dimensions of the cylinder can be used to minimise cost of manufacture.
<h3>How to we find minimised cost?</h3>
Let's ignore the metal's thickness and assume that the material cost to manufacture is precisely proportionate to the surface area of a perfect cylinder.
A=2πr(r+h)
Given that V=1000=r2h and h=1000=r2, we can write
A=2πr(r+1000πr2)
A=2πr2+2000r−1
By setting the derivative to zero, we may determine the value of r that minimises A:
A′=4πr−2000r−2
0=4πr−2000r−2
2000r−2=4πr
2000=4πr3
r=500π−−−√3
r=5.419 + cm
h=1000πr2=10.838 + cm
The can with the smallest surface area has a volume of 1000 cm 3 and measures 5.419+ cm in radius and 10.838+ cm in height. The can has a surface area of 553.58 cm 2. Given a constant volume, the cylinder with diameter equal to height has the least surface area.
Can surface area (cm2) versus. radius (cm), where capacity = 1000cm 3.
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Answer:
Journal Entries
Date Account Titles and Explanation Debit Credit
Oct. 1 Cash $34,040
Common Stock $34,040
(To record the cash is invested in the business)
Oct. 2 No Journal Entry $0
Oct. 3 Office Furniture $4,110
Accounts Payable $4,110
(To record the purchase of office furniture on account)
Oct. 6 Accounts Receivable $10,780
Service Revenue $10,780
(To record the services provided but cash is not yet collected)
Oct. 10 Cash $165
Service Revenue $165
(To record the services provided by cash)
Oct. 27 Accounts Payable $690
Cash $690
(To record the payment made on accounts payable
relating to office furniture)
Oct. 30 Salaries Expense $2,740
Cash $2,740
(To record the payment of salaries to the assistant)
