Answer:
c
Explanation:
a. Related goods can be complementray goods or substituted goods. In case of complementary goods, price of related good is inversely related to quantity demanded. In case of substituted goods, price of related good is directly related to quantity demanded.
b. It can be greater than 1.
c. It is always negative as relationship between price and quantity demanded is inverse.
d. It doesn't violate the law of demand
Well it is a toy manfacturing company and the intermediate good would be a toy plane
Answer:
The answer is copayment
Explanation: Hope this helps:)
Answer:
Part a
Debit : Cash $9,000
Credit : Service Revenue $9,000
Part b
Debit : Prepaid Insurance $3,240
Credit : Cash $3,240
Part c
Debit : Equipment $12,000
Credit : Cash $12,000
Part d
Debit : Cash $14,000
Credit : Loan Payable $14,000
Explanation:
Step 1 : Identify the Accounts affected in each and every transaction.
Step 2: Then determine if this Account is increasing or decreasing.
Step 3 :The journal entries have been prepared above.
<u>Answer:</u>
<u>A. Wilson</u>
<u>B. Tom</u>
<u>C. 0.45</u>
<u>D. 0.3 and 3</u>
<u>Explanation:</u>
Tom comparative advantage: using the formula; number of cut down / the other's number of cut down.
For Coconut= 5/15=0.3
For Fish= 11/6=1.8
Wilson comparative advantage: using same formula above
For Coconut= 15/3=3
<em>For Fish= 6/11=0.5</em>
<em>A. Thus, we can conclude that Wilson has comparative advantage of producing coconut since he has the higher ratio of 3.</em>
<em>B. We conclude that Tom having the ratio value of 1.8 which is greater than that of Wilson has the comparative advantage.</em>
<em>C. Tom's opportunity cost of producing a coconut is calculated by dividing his number of coconut over his number of fish = 5/11 = 0.45</em>
<em>D) Note the range of acceptable terms of exchange of coconuts for fish should be be 0.3 and 3.</em>