Answer:
The price should be increased to achieve a balance between supply and demand.
Explanation:
If visitors have to wait long for lift, this suggests that the demand is not matching the supply. In fact demand seems to be higher than supply which causes long wait for lift. An increase in price will cause the demand to fall and hence the supply will meet the demand and would result in less waiting for lifts.
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Answer:
The best place to get information about the transaction is the general journal.
Explanation:
The best place for the manager to get information about the transaction is the general journal.
The journal in accounting is a record of financial transactions in order by date. The general journal is a day book that records transactions as it relates to adjustment entries, opening stock, accounting errors. Entries in general journal includes dates and explanation of transaction called narration.
The manager can find out if he paid fully for the transaction by going through the narration in the general journal.
Explanation:
Suppose Mary is willing to pay up to $15,000 for an used Ford pick-up truck. If she buys one for $12,000, her ______ would be ______.
Select one:
a. benefit; $12,000
b. cost; $15,000
c. economic surplus; $3,000
d. economic surplus; $12,000
