Answer:
The accrual principle
The main purpose of adjusting entries is to update the accounts to conform with the accrual concept. At the end of the accounting period, some income and expenses may have not been recorded, taken up or updated; hence, there is a need to update the accounts.
Answer:
The real estate should charge $1,300 to obtain maximum profit.
Explanation:
We can make K to represent the number of unit apartment occupied.
This means that the total rent the real estate office is getting can be denoted by;
{(550 + 25(80 - K)} K - 50K
Maximizing the above equation, we have;
y = 550K + 2,000K - 25K^2 - 50K
Collect like terms
= 2,500K - 25K^2
y' = (2,500K - 25K^2)' = 2,500 - 50K
y = 0
2,500 - 50K = 0
2,500 = 50K
K= 50
Rent is therefore;
Rent = 550 + (80 - K)25, where K is 50
= 550 + (80 - 50)25
= 550 + (30)25
= 550 + 750
= $1,300
A. Mood, interest.
Keeping your MOOD and INTEREST in mind will dictate what you say and how you say it.
Answer:
Monopolistic competition can promote different features of their products and consumers are willing to pay more for products containing the features that they desire.
Explanation:
- Here many firms create similar products but they are not a substitute of any other.
- This combines monopoly and competitive market
- It is a form of "imperfect competition"
- This has emerged because the product developed by different people target the same set of audience by providing few differentiation.
Examples of monopolistic competition:
- The restaurant business
- Consumer services
- General specialist retailing
- Hotels / Pubs.\
Advantages:
Disadvantage:
- Higher price
- Fewer incentives
Answer:
Please refer the detail answer below
Explanation:
(a) Relationship between ticket prices and the number of people choosing to visit amusement parks.
There is an inverse relationship (Law of Demand) between ticket prices and the number (Quantity) of people visiting amusement parks which means that as the ticket prices increase, people will reduce the quantity demanded of amusement park tickets, and spend their income on other goods. For example, they may decide to go to the movies instead of visiting the now more expensive amusement park.
b) Is that relationship consistent with the fact that, historically, park attendance and ticket prices have both risen?
The fact that, historically, park attendance and ticket prices have both risen over time does not invalidate the Law of Demand. The increase in park attendance maybe due to a change in demand (other factors), not a change in quantity demanded, shifting to the right.
