Answer:
a. Decrease
b. Decline
c. Exit
d. No change
Explanation:
The market for gourmet chocolate is in the long-run equilibrium, and an economic downturn has caused the consumer disposable income to fall. Chocolate is a normal good, and the chocolate producers have identical cost structures.
a. This decline in the consumer income will reduce the purchasing power of the consumers. As a result, the demand will decrease. The demand curve will move to the left.
b. This leftward shift in the demand curve will cause the price to decline, As the price falls, the profits earned by the producers will decline as well.
c. In the long run, the firms operate at zero economic profits. So a decline in profits imply that the firms are operating at an economic loss. This will cause the loss incurring firms to exit the market.
d. The long run supply curve will remain the same. It is not affected by change in profits, it changes only with change in the state of technology or availability of resources.
Answer:
Intra-Industry Specialization
Dynamic Comparative Advantage
Product Life Cycle Theory
Explanation:
Ice wine is a special spirit that can only be made during a few months in the winter. The nations of Fruzenton and Grappovia are in different hemispheres, and each produces ice wine. During each nation’s winter, its ice wine industry produces enough to meet domestic demand and export to the other country. The ice wine exchanged between the two nations is nearly identical. Intra-Industry Specialization
For many years, the nation of Stilettopia’s high-heel shoe producers have struggled in the international market because strict labor laws have made it hard to get productivity out of Stilettopians. In an effort to stimulate its industry, legislators in Stilettopia approve a bill that reduces the minimum wage and extends the number of hours shoe laborers can work in a day. Once the new policies take effect, Stilettopian high-heel shoe makers have lower costs than international competition and are able to reduce prices to the point that there is demand to export their shoes. Dynamic Comparative Advantage
Since the turn of the century, nearly all X-ray machines purchased by hospitals have been made in Alloway. However, engineers in Osteoville recently designed an X-Ray machine that produces much more accurate results, leading to fewer malpractice cases and more reliable diagnoses. These new X-ray machines quickly become the industry standard. As a result of this, the production of X-ray machines is thriving in Osteoville, while firms in Alloway lose market share and begin trying to develop a new source of advantage Product Life Cycle Theory
Answer:
Journal Entries
Explanation:
The journal entries are as follows
1. Cash $432,000
To Bonds payable $400,000
To Premium on bond payable $32,000
(Being the issuance of the bond is recorded)
The premium on bond payable is computed below:
= $400,000 ÷ $100 × $8
= $32,000
The $8 comes from $108 - $100
2. Bond payable $400,000
Premium on bond payable $27,809
To Cash $412,000 ($400,000 × 103%)
To Gain on bond redemption $15,809 ($432,000 - $4,191 - $412,000)
(Being the retirement of the bond is recorded)
Answer:
4) All of the above
Explanation:
The day care program should have rewardedbeing on time to encourage this attitude.
Instead they put a price on being late. As parent considers this price cheap they arrive later to have some extra time beofre picking their childrens
Either the day care program reconsiders the fine policy and moves into a better program to estimulate being on time or it increases the "price" so is more expensive for the parents to come in time rather than paiying their fines.
The options for this question are: A. Software as a web service B. Cellular networks C. TQM D. Internet telephony E. The World Wide Web
Answer:
The correct answer is D. Internet telephony.
Explanation:
Internet telephony (also called IP telephone or Voice over IP or VoIP) designates telephone activity through a computer network in which data is transmitted according to the IP standard. IP means "Internet protocol" and is a set of rules according to which data must be prepared for transmission on the Internet. IP telephony uses the same transmission channels as normal data transmission on the Internet.
