There will be a $34,000 drop in overall net income. The $124,000 contribution margin will be forfeited by the business. Only $90,000 of a fixed costs (salary, advertising, and administrative expenses) are avoidable, resulting in a $34,000 decrease in net income.
The contribution margin is what?The total amount of revenue left over after overhead expenses to pay for fixed costs and turn a profit for the business is shown by the contribution margin, according to Knight. This could be viewed as the component of sales which helps to cover fixed expenses.
Contribution margin: Is it profitable?While contribution margin is indeed the amount of revenue left over after deducting variable costs from revenue, gross margin is the profit that remains after the cost of goods marketed from revenue.
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Which of the following would be the first step in creating your personal financial plan?
In the first Financial plan, establishing short-, medium- and long-term financial goals.
Explain in detail.
A financial plan outlines a person's long-term financial objectives and develops a method for achieving them. The plan needs to be thorough but also highly individualized to take the person's personal and family circumstances, risk tolerance, and expectations for the future into account.Financial objectives can be to set up an emergency fund, accumulate retirement savings, pay off debt, or get a better paying career.estimating your future financial, resource, and investment demands. identifying the funding sources. efficiently using or managing these funds. identifying the plan's risks and problems.To know more about Financial plan here
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Total revenue is in dollars and x is the number of units. Suppose that in a monopoly market, the demand function for a product is given by the following equation, where x is the number of units and p is the price in dollars. p = 330 − 0.2x
(a) Find the total revenue from the sale of 500 units. $ _____
(b) Find the marginal revenue at 500 units. $ _____
(c) Is more revenue expected from the 501st unit sold or from the 701st? (which of the following options are true?)
1) The 501st unit and the 701st unit will bring in the same revenue.
2) The 701st unit will bring in more revenue than the 501st unit.
3) The 501st unit will bring in more revenue than the 701st unit.
Total revenue from the sales would be p = 330 − 0.2x, p = 330 - 0.2*500 = 330 - 100 = 230.
What is meant by total revenue?
The whole amount of money a seller may make by providing goods or services to customers is known as total revenue. The formula for this is P Q, or the purchase price times the quantity of the products sold.
An indefinitely elastic demand curve is presented to a corporation that is completely competitive. In other words, the market price is the only price at which it may be sold. At any lower price, it could sell the same quantity at the going rate and yet make more money, but at any higher price, nobody would purchase any quantity. The market price multiplied by the amount that the business decides to manufacture and sell equals total revenue.
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costs remain constant (within relevant range). they do not react or vary with production/sales levels.
Fixed costs remain constant (within the relevant range). Fixed costs do not vary with the same level of production.
Fixed costs are costs or business expenses that do not depend on changes in the amount of goods or services produced, so they will not change even if there is a change in the amount of goods and services produced within a certain range. Fixed costs are not affected at all or regardless of changes in the business activities carried out by the company.
Fixed costs in accounting are basically a type of cost that does not change or is static and will still be incurred both when no activities or production processes are carried out or when many activities are carried out. Fixed costs, for example, are salaries of employees. building rent, to excise fees. These costs must always be paid even if the company does not produce any output of goods or services.
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Most adults would erase all of their personal information online if they could. A software firm survey of 521 randomly selected adults showed that 61 % of them would erase all of their personal information online if they could. Find the value of the test statistic.
312 individuals, or 61%, say they would delete their personal information from the internet if they could. The total is 312.32, however we must modify the response for persons.
What is the value of test statistic ?We must apply the Rule of Three to determine the solution. Mathematical rules like the Rule of Three can be used to address proportional problem.
1. Since I am aware that 512 adults were polled, this percentage is 100%. We don't know how many people are in this room, but 61% of them claim that they would delete all of their personal information from the internet if they could 685 adults are 100% .
61% of X adults In this case, we must arrange the identical components in the same columns. Students who scored highly in percentage.
3. I must now cross off these facts. I must multiply 61 by 512. So:
61*512= 31232
4. Next, multiply the outcome by 100.
31232/100= 312.32
5. The total number of adults who would is 312.
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Which of the following are true of Impressionism?*It developed in parallel with Symbolist movement in poetry.*It was rebuffed by the academic salons of Paris.*It is mainly an Italian art form.*It was initially a term denoting scorn of the new style.Answer:*It developed in parallel with the Symbolist movement in poetry.*It was rebuffed by the academic salons of Paris.*It was initially a term denoting scorn of the new style.
The term "Impressionism" refers to a painting movement that originated in France in the middle to late 19th century.
Characteristics of the movement include unblended color, an emphasis on the accurate representation of natural light, and small, visible brushstrokes that offer the bare impression of form. Impressionists rejected traditional subjects and embraced modernity in their quest to produce art that accurately captured their time. What connected them was an emphasis on how color could describe a moment in time rather than black lines.
The Impressionist movement was named after Claude Monet's 1874 painting Impression, Sunrise (Musée Marmottan Monet, Paris), which the critic Louis Leroy claimed was only an "impression" and not a full work of art.
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Raul Menendez, the CEO of Top Auto, has decided to implement additional outsourcing. To implement the added outsourcing, Mr. Menendez could _____
Raul Menendez, the CEO of Top Auto, has decided to implement additional outsourcing. To implement the added outsourcing, Mr. Menendez could implementing the strategy.
What is outsourcing?Outsourcing is a contract in which one company contracts another company to handle a planned or ongoing operation that is being or might be handled internally. It occasionally entails the transfer of assets and people from one company to another.
Management of human resources, facilities, supply chains, accounting, customer service and support, marketing, computer-aided design, research, content creation, engineering, diagnostic services, and legal paperwork are a few common outsourcing operations.
The practice of employing a third party from outside a business to carry out tasks or produce commodities that were previously completed in-house by the business's own employees and personnel is known as outsourcing. Companies typically engage in outsourcing as a cost-cutting strategy.
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In the U.S., although the number of dairy cows has declined since 1960, production has increased because yield per cow has tripledA. TrueB. False
In the U.S., although the number of dairy cows has declined since 1960, production has increased because yield per cow has tripled.
The statement is true.
Give brief about the production in business.
Production is the process of mixing multiple inputs, both immaterial (such as plans or information) and material (such as metal, wood, glass, or polymers). In a perfect world, this output would be a product or service that is useful to others and has value. Production theory is the branch of economics that concentrates on production; it is closely connected to the consumption (or consumer) theory of economics.
Four Production Factors (Jiang, 2020)
Utilizing the initial inputs productively leads to the manufacturing process and outcome (or factors of production). Land, labour, and capital are regarded as the three major production components and are referred to as primary producer commodities or services. The output procedure does not appreciably change these fundamental inputs,
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Compute the flexible-budget variances for the following two activity cost items (round unit costs to two decimal places and enter favorable variances as positive numbers and unfavorable variances as negative numbers):
Payment verification
Correspondence
The Payment verification.
Price Verification describes the set of procedures that allow clients to verify or affirm the payment they have got made after shopping any products or services. This set of tactics can generally be carried out through the net by means of the purchaser itself.
Fee Verification is the technique of traders physically contacting the consumer's issuing financial institution or the card affiliation to validate the cardholder's records. The fee verification offerings to be had nowadays do now not offer any kind of assurance for fraudulent transactions.
The Verification method confirms that layout Synthesis has ended in a bodily architecture that satisfies the device requirements. at some point in a system's lifestyles cycle, layout answers at all stages of the physical architecture are validated to meet specifications.
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If a household's income tax increases by 80% when the household's income increases by 100%, then the tax system is:a) progressive.b) proportional.c) flat.d) regressive
If household income tax increases by 80%, if household income increases by 100%. It is progressive tax system which is based on theory that higher income level, higher tax rate, and that high-income earners can afford to pay more.
What is Progressive Taxation?A progressive tax is based on the concept of ability to pay, with a higher proportion of income coming from high-income groups than low-income groups. For example, a progressive tax system could impose a tax rate of 10% on low-income taxpayers, 15% on middle-income taxpayers, and 30% on high-income taxpayers.
Who benefits from progressive taxation?On the plus side, a progressive tax system eases the tax burden for those who can't afford to pay. This leaves more money in the pockets of low-income people who are more likely to spend more on basic necessities, thereby stimulating the economy.
Is the income tax progressive or regressive?In the United States, the federal income tax is a progressive tax. Tax rates are tiered from 10% to 37%. In 2022, if you are single and have taxable income of $15,000, your tax rate will be 12%, and if you are single and have taxable income of $600,000, your tax rate will be 37%.
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Sales associates who are paid in a lump sum and who are personally responsible for paying their own taxes are probably treated for tax purposes as?a) employeesb) buyer's agentsc) independent contractorsd) transactional brokers
If Sales associates who are paid in a lump sum and who are personally responsible for paying their own taxes are probably treated for tax purposes as: a) employees.
Who is an employee?An employee can be defined as the person who work for an employer for a salary and this people tend to have have the interest of the company at mind and they as well involve in the day to day operation of a company business.
An employee is responsible for paying their own taxes as their taxes are often deducted from their salary.
Therefore the correct option is A.
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Which of the following is most likely to benefit from an appreciation in the United States dollar in the short run?
a. United States investors holding European bonds
b. Importers in foreign countries seeking raw inputs at a lower price
c. United States exporters selling capital equipment
d. United States tourists traveling to foreign countries
e. European consumers buying United States goods.
European consumers buying United States goods, is most likely to benefit from an appreciation in the United States dollar in the short run.
How does the American dollar impact the global economy?When bought and sold on the international market, food and energy are frequently priced in dollars. Likewise, much of the debt due to developing countries. The International Monetary Fund conducted research that found that, whether or not the United States is involved, almost 40% of global transactions are conducted in dollars.
Because the US economy is stronger than the economies of many other nations and because the Federal Reserve keeps hiking interest rates of dollar is strong. Stocks of US companies that conduct business abroad suffer from a strong currency, but those of US exporters may benefit. The strong dollar fuels global inflationary pressures.
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treasury stock: multiple select question. reduces stockholders' equity. is the number of shares authorized minus the number of shares issued. is a contra-equity account. is shares of stock no longer outstanding.
The term "treasury stock," also referred to as "treasury shares" or "reacquired stock," refers to previously outstanding stock that has been repurchased by the issuing company from its stockholders.
As a result, there are fewer shares available for purchase on the open market. Depository stock remaining parts gave yet is excluded from the conveyance of profits or the computation of income per share (EPS).
A credit to the common stock and the additional paid-in capital (APIC) accounts is used to add to the equity section of the balance sheet when a company first issues stock. The APIC account shows the amount received above the par value, while the common stock account shows the shares' par value. This journal entry's offset is a debit to increase the shareholders' consideration in cash (or another asset) as a result of double-entry bookkeeping.
Commonly referred to as "treasury stock" or "equity reduction," Treasury shares reduce total shareholder equity. Treasury stock can be accounted for in one of two ways: the par value method and the cost method. The cost method disregards the par value of the shares and uses the value paid by the company for the repurchase; The cost of the treasury stock is included in the stockholders' equity section of the balance sheet using this approach. Stocks often have a low par value, like $1, but can be sold and bought back for a lot more.
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changes in taxes shift the aggregate demand curve equal-sized changes in government purchases. by more than by exactly as much as by less than in inverse proportion to
The overall demand for final products and services in an economy at a certain time is known in macroeconomics as aggregate demand, sometimes known as a domestic final demand.
Effective demand is a common name for it, however other times this term is used to make a distinction. This is a country's demand for its gross domestic output. The total of consumption, investment, government purchases, and net exports at each price level in every period is represented by the aggregate demand curve. Due to the wealth effect on consumption, the interest rate effect on investment, and the impact of global commerce on net exports, it slopes downward.
As the components of aggregate demand—consumption spending, investment expenditure, government spending, and spending on exports minus imports—increase, the aggregate demand curve, or AD curve, moves to the right.
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Which of the following instruments is NOT used by the Federal Reserve to change the money supply?
A) the discount rate
B) the required reserve ratio
C) the federal tax code
D) open market operationsAnswer: C
The federal tax code is not used by the Federal Reserve to change the money supply.
How Do Taxes Work?Taxes are compulsory payments made by a government organization, whether local, regional, or federal, to people or businesses. Tax revenues are used to fund a variety of government initiatives, such as Social Security and Medicare as well as public infrastructure and services like roads and schools.
Its advantages?A tax is a monetary fee that a nation's central or state governments levy on its population to fund economic development. Depending on how they are paid to the authorities, taxes can be classified as either direct or indirect. Direct taxes include, amongst many others, income taxes, corporate taxes, and capital gains taxes.
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according to michael porter, industry attractiveness can be identified based on the five forces that include ____ .
According to Michael Porter, industry attractiveness can be identified based on the five forces that include competitors, new entrants, suppliers, customers and substitutes.
What is an illustration of a replacement?For instance, $1 banknotes can be substituted for other $1 bills. Furthermore, butter produced by two different companies is also regarded as an ideal counterpart since, although coming from two different companies, both kinds of butter perform the same duties.
"No substitute" – what does that mean?When something is said to be incompatible with another, it is implied that it lacks some desirable characteristics that the other object possesses, making it undesirable. When you say something cannot be replaced, you're saying it's the only choice that can fully satisfy your needs.
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Lack of trust in online sellers is one of the most frequently cited reasons that some consumers are not willing to purchase online.A. TrueB. False
Lack of trust in online sellers is one of the most frequently cited reasons that some consumers are not willing to purchase online. The given statement is True.
What do you know about Online Sellers?
Online sellers are responsible for a variety of tasks. They take pictures of the items and write descriptions for them. They will sell the information and post it online. They compute total purchase amounts, taxes, and fees and shipping fees; accept payments; and send out orders. They also interact with customers to provide answers or solve problems. Many online sellers devote a significant amount of time to their businesses.
promoting their products, either online or offline— via social media, email, and newsletters, advertisements, blogs, or in their neighbourhoods Ann, for example, conducts workshops and speaks in classrooms.
So, the given statement is True.
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Identify which of the following tasks auditors use to obtain an understanding of internal control over accounts payable.
1. use a questionnaire
2. perform a walk-through
3. prepare a flowchart
Auditor methods for understanding internal control over accounts payable include using a questionnaire, conducting a walk-through, and creating a flowchart.
How is it the auditor's responsibility to comprehend the internal control?
By carrying out procedures to comprehend the design of controls relevant to an audit of financial statements and determining whether they have been put into operation, the auditor should acquire an understanding of internal control sufficient to plan the audit.
What steps are taken to learn more about internal control?
The processes and methods that auditors use to obtain sufficient and appropriate audit evidence to render their professional judgment regarding an organization's internal controls' effectiveness are known as audit procedures.
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Full Question = Identify which of the following tasks auditors use to obtain an understanding of internal control over accounts payable. (Select all that apply)
a. make a fictitious purchase
b. review all invoices and supporting documentation
c. use a questionnaire
d. perform a walk-through
e. prepare a flowchart
In addition to place, promotion, and product, marketing managers also must make major strategy decisions about _____.
1. prey
2. press
3. price
4. privacy
In addition to place, promotion, and product, marketing managers also must make major strategic decisions about 3. price.
Promotion refers to a variety of actions supposed to elevate more consciousness or development of an item. In phrases of a profession, promoting refers to advancing a worker's rank or position in a hierarchical structure.
A promoting is whilst an employee advances to a function that is categorized at a better earnings grade, or in sure situations, an acknowledgment of big more obligations within the equal grade.
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and nonprofit accounting supports organizations whose purpose is not generating a profit, but serving ratepayers, taxpayers, and others according to a duly approved budget.
Government and not-for-profit accounting.
Management accounting information is intended to help managers within an organization make informed business decisions, whereas financial accounting is intended to provide financial information to stakeholders outside the organization. I'm doing it. The main functions of accounting are storing and analyzing financial information and monitoring financial transactions.
Accounting is used to prepare financial statements for a company's employees officers and investors. Accounting also helps ensure the disbursement of funds inside and outside the company. Should be adopted into public accounting on a fee basis. As an individual or as a member of an audit firm. Certified public accountants who meet state education experience and exam requirements can become certified public accountants.
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when a monopoly drops the price to sell more units, the revenue received from previously sold units will also decrease. true or false?
True , when a monopoly drops the price to sell more units, the revenue received from previously sold units will also decrease.
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A large oil company requests ¢200 million of liability insurance to cover its oil business. State Insurance Company (SIC) has a reinsurance contract with Ghana Re that enables the coverage to be written immediately. Under the terms of the contract, SIC pays 30 percent of the losses and retains 30 percent of the premium. Ghana Re pays 70 percent of the losses and receives 70 percent of the premium, less a ceding commission that is paid to SIC. Answer the following questions:
a. What type of reinsurance contract best describes the arrangement between the two insurance companies? Explain your answer.
b. Supposing a ¢100 million covered loss occurs, how much will each insurance company have to pay? Explain your answer.
Answer:
a. The reinsurance contract between SIC and Ghana Re is a proportional reinsurance contract. This type of contract specifies that the reinsurer (Ghana Re) will share a fixed proportion of the premiums and losses with the ceding company (SIC). In this case, the contract specifies that Ghana Re will pay 70 percent of the losses and receive 70 percent of the premiums, while SIC will pay 30 percent of the losses and retain 30 percent of the premiums.
b. If a ¢100 million covered loss occurs, SIC will be responsible for ¢30 million of the loss, while Ghana Re will be responsible for ¢70 million of the loss. This is because the contract specifies that SIC will pay 30 percent of the losses, and Ghana Re will pay 70 percent of the losses. In terms of premiums, SIC will retain ¢60 million of the premium, while Ghana Re will receive ¢140 million of the premium, less the ceding commission that is paid to SIC.
Calculating initial investment Vastine Medical, Inc., is considering replacing its existing computer system, which was purchased 2 years ago at a cost of $317,000. The system can be sold today for $191,000. It is being depreciated using MACRS and a 5-year recovery period (see the table LOADING...). A new computer system will cost $498,000 to purchase and install. Replacement of the computer system would not involve any change in net working capital. Assume a 40% tax rate on ordinary income and capital gains. a. Calculate the book value of the existing computer system. b. Calculate the after-tax proceeds of its sale for $191,000. c. Calculate the initial investment associated with the replacement project.
a) The book value of the existing computer system for Vastine Medical, Inc. is $152,160.
b) The after-tax proceeds of the sale of the existing computer system for Vastine Medical, Inc. is $23,304.
c) The initial investment associated with the replacement project is $307,000.
How is the book value of an asset calculated?The book value of an asset represents the difference between the original cost and the accumulated depreciation.
The accumulated depreciation is the sum of the yearly depreciation expenses for the past periods.
Capital gains or losses arise as the difference between the sales proceeds and the book value of an asset.
Cost of the old computer system = $317,000
Accumulated depreciation after 2 years = $164,840 ($317,000 x 52%)
Book value after 2 years = $152,160 ($317,000 - $164,840)
Sales proceed = $191,000
Capital gains = $38,840 ($191,000 - $152,160)
Capital gains tax = $15,536 ($38,840 x 40%)
After-tax proceeds = $23,304 ($38,840 - $15,536)
Cost of a new computer system = $498,000
Thus, the initial investment for the replacement project is $307,000 ($498,000 - $191,000).
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Question Completion:MACRS 5-year Declining Method:
Year Depreciation Rate
1 20%
2 32%
3 19.20%
4 11.52%
5 11.52%
6 5.76%
In which of the following instances would the deadweight loss on the tax of airline tickets increase by a factor of nine?
A The tax on airline tickets increases from $15 per ticket $60 per ticket
B The tax on airline tickets increase from $20 per ticket to $90 per ticket
C the tax on airline tickets increased from $15 per ticket to $135 per ticket
D the tax on airline tickets increase from $20 per ticket to $60 per ticket
The deadweight loss is going to have to happen when the tax on airline tickets increase from $20 per ticket to $60 per ticket. Option D.
What is meant by deadweight loss?The loss of overall welfare or the social surplus as a result of factors such as taxes or subsidies, price ceilings or floors, externalities, and monopoly pricing is known as "deadweight loss."
The cost of market inefficiency, which happens when supply and demand are out of balance, is known as a deadweight loss. Deadweight loss, a term mostly used in economics, refers to any deficit brought on by an ineffective resource allocation.
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the change in the quantity of labor demanded resulting from a change in the relative cost of labor is known as the effect
Input substitute is the change in the quantity of labor demanded resulting from a change in the relative cost of labor is known as the effect.
A common strategy for addressing the impact of a change in the mix of inputs used for production from a technical or financial perspective is to employ the elasticities of substitution between inputs. The majority of estimating techniques estimate these elasticities using parametric production, cost, or frontier functions. Flexible inputs are those that can be replaced with or by other inputs during the manufacturing process (such as fishing harvesting). The degree of substitutability increases with input flexibility. The relationship between the change in the ratio of factors utilized in a production process and a specific change in the factor price ratio is known as the elasticity of substitution between factors in production.
A concept of such an elasticity that links changes in overall factor endowments to the consequent change is called an aggregate idea.
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Which one of the following is the type of risk that only affects either a single firm or just a small number of firms?
A. unexpected
B. market
C. systematic
D. unsystematic
E. expected
Unsystematic(OPTION C).one of the following is the type of risk that only affects either a single firm or just a small number of firms. Unsystematic risk is also referred to as specific risk, which refers to threats particular to a given business or sector.
These dangers sector, however, do not simply affect one company at a time. For instance, the stock price of a single company can be specifically at risk due to a bad manager. Unsystematic risk is the possibility that a danger at the corporate or industry level will lead to a catastrophic collapse. The risk that the entire market carries, which can be attributed to a variety of economic, sociopolitical, and market-related events, is known as systematic risk.
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Businesses cite several reasons for using polygraphs to detect lying.Which of the following is one of those reasons?
A)the polygraph is a fast and economical way to verify the information provided by a job applicant.
B)polygraph tests cannot be beaten.
C)the polygraph can reveal with certainty that a person is or is not telling the truth.
D)the polygraph allows companies to increase the number of audits.
Businesses cite several reasons for using polygraphs to detect lying the polygraph allows companies to increase the number of audits. Employers most typically use polygraph testing to look into specific occurrences.
When employees had access to something that was being looked into and there was a good chance that they were involved. Pre-employment (or preclearance) screening, employee screening, and event-specific inquiry are the three main uses of polygraph testing and interviews, as we noted at the beginning of this chapter. The various purposes are reflected in the many types of questions used in polygraph exams. There is no proof that any physiological response pattern is specific to deceit.
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Cindy is a single taxpayer with two dependent children, ages 10 and 12. Cindy pays $3,000 in
qualified childcare expenses during the year. If her adjusted gross income for the year is $20,200
and she takes the standard deduction, calculate Cindy's earned income credit and dependent
care credit for 2021.
Hello,
I hope you and your family are doing well!
Answer: Cindy's earned income credit for 2021 is $845.36 and her dependent care credit is $888.
(See below for the walk-through)! Consider giving this answer 5 stars and brainliest if you find it helpful.
To calculate Cindy's earned income credit and dependent care credit for 2021, we need to know the maximum amount of credit she is eligible for based on her adjusted gross income and the number of dependent children she has.
The maximum earned income credit for 2021 is:
$3,584 for one child
$5,728 for two children
The maximum dependent care credit for 2021 is:
$3,000 for one child
$6,000 for two children
Since Cindy has two dependent children and her adjusted gross income is $20,200, the maximum earned income credit she is eligible for is $5,728 and the maximum dependent care credit she is eligible for is $6,000.
To calculate the actual amount of credit Cindy will receive, we need to know the percentage of her adjusted gross income that she spends on qualified childcare expenses. Since Cindy spends $3,000 on qualified childcare expenses and her adjusted gross income is $20,200, the percentage of her income that she spends on childcare is:
$3,000 / $20,200 = 0.148
The earned income credit and dependent care credit are both calculated as a percentage of the maximum credit, with the percentage equal to the percentage of adjusted gross income spent on qualified childcare expenses.
Therefore, Cindy's earned income credit is:
$5,728 * 0.148 = $845.36
And her dependent care credit is:
$6,000 * 0.148 = $888
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Based on information provided in the text, the ultimate goal of achieving customer satisfaction is to promote brand _________
Based on information provided in the text, the ultimate goal of achieving customer satisfaction is to promote brand Brand Loyalty.
A brand is a good, service, or idea that is publicly set apart from similar ones so that it may be promoted and conveyed effectively. The process of building and promoting a brand's name, attributes, and personality is known as branding.
A brand is a promise a company makes to its customers. Establishing trust and fostering loyalty among your customers are the goals of a brand position in marketing. A strong brand purpose establishes an identity for your company, provides customers with a reason to remember you, and distinguishes you from rival brands.
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this change affects not only the market for cherries but other markets as well. assume that blueberries are a substitute for cherries. which of the following statements are true when considering the effect of the increase in the demand for cherries on the general equilibrium of an entire economy? check all that apply.
a-The change in the price of cherries will probably lead to changes in other markets, such as the market for blueberries.
b-Changes in other markets to respond to the cherries market could cause more changes to the cherries market in order for the economy to reach general equilibrium.
c-The change in the cherries market may cause firms that pick cherries to shut down, and the resources used by those firms may be used by firms entering other markets.
Businesses that pick cherries may close as a result of the changing cherry industry, and the resources they used may be repurposed by businesses entering new industries.
What are a few examples of economy?
A well-known example of an economy is the that has, which employs a nation's customs and history to guide the manufacturing and distribution of goods. A traditional economy's three primary pillars are agriculture, fishing, and hunting.
What instances from the world of business?
The study of resource scarcity is a key component of economic social science. It investigates factors that affect the production, distribution, and consumption of goods and services within an economy. It looks into how scarce resources are allocated among individuals, groups, and governments.
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After dissolution, partners still have authority to do which of the following actions on behalf of the partnership? Choose 2 answers. A. pay the debts of the partnership B. take out a loan to pay creditors C. sign a contract to perform a service in the ordinary course of business D. complete transactions that were started before dissolution
After dissolution, partners still have the authority to pay the debts of the partnership of the following actions on behalf of the partnership.
partnershipA partnership is a legal agreement between two or more people to manage and run a business and share profits. There are several forms of partnership agreements. In a partnership business, for example, all partners share liabilities and profits equally, whereas, in others, partners may have limited liability. There is also the "silent partner," who is not involved in the day-to-day operations of the business. A general partnership is made up of two or more proprietors who work together to operate a firm. In this arrangement, each partner has equal representation of the firm. All partners have the right to govern the firm and can participate in management operations and decision making. Profits, debts, and obligations are also equitably shared and split.
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