Answer: Option (c) is correct.
Explanation:
Given that,
Alternatives for a person if he do not attend his neighbor's barbecue:
(1) Watch television with some friends = he value this at $17
(2) Read a good novel = he value this at $14
(3) Go in to work = he could earn $16 during the barbecue
Opportunity cost is the benefit that is foregone for an individual by choosing one alternative over other alternatives available to him.
If the opportunity cost is lower for an individual then this will benefit him whereas if the opportunity cost is higher then this will not benefit the individuals.
Therefore, the opportunity cost of going to his neighbor's barbecue is the enjoyment he get from watching television with some friends because this is the highest valued alternative forfeited.
Answer:
The firm's output prices will increase, because will the firm can quickly adjusts the prices of goods to the new price level of 110, it will not have to do so with wages, since wages are fixed by a year contract.
This will result in comparatively lower labor costs with higher prices at the same time, which will likely result in more economic and accounting profit for the firm.
The opposite effect will be felt by workers, whose wage is not keeping up with inflation, meaning that their income is losing purchasing power.
Option A. 300000.
The four main ways to account for inventory are specific identification, first in first out, last in first out, and weighted average methods.
The retail inventory method is an accounting method used to estimate the value of a store's merchandise. The retail method provides the ending inventory balance for a store by measuring the cost of inventory relative to the price of the merchandise.
The FIFO method is the most popular inventory method because it's the one that most closely matches the actual movement of inventory for most businesses. This method assumes that the first products you acquired will be the first that are sold.
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Answer:
leftward shift of
leftward shift of
movement along
rightward shift of
Explanation:
The right answers to complete the given statements are that;
A decrease in real GDP causes leftward shift of the money demand curve.
An increase in technology which makes it easier to pay for goods and services without carrying lots of causes a leftward shift of the money demand curve
A decrease in interest rates causes a movement along the money demand curve.
An increase in the aggregate price level causes a rightward shift of the money demand curve.
