Ivanhoe Corporation was organized on January 1, 2020. It is authorized to issue 9,500 shares of 8%, $100 par value preferred stock, and 516,800 shares of no-par common stock with a stated value of $1 per share. The following stock transactions were completed during the first year.
Jan. 10 Issued 80,020 shares of common stock for cash at $7 per share.
Mar. 1 Issued 5,750 shares of preferred stock for cash at $111 per share.
Apr. 1 Issued 24,660 shares of common stock for land. The asking price of the land was $91,520; the fair value of the land was $80,020.
May 1 Issued 80,020 shares of common stock for cash at $9 per share.
Aug. 1 Issued 9,500 shares of common stock to attorneys in payment of their bill of $49,100 for services rendered in helping the company organize.
Sept. 1 Issued 9,500 shares of common stock for cash at $11 per share.
Nov. 1 Issued 970 shares of preferred stock for cash at $115 per share.
Instructions
Prepare the journal entries to record the above transactions.
Answers
Answer:
Ivanhoe Corporation
Journal Entries:
Jan. 10: Debit Cash $560,140
Credit Common Stock $80,020
Credit Additional Paid-in Capital - Common Stock $480,120
To record the issuance of 80,020 shares of common stock for cash at $7 per share.
Mar. 1: Debit Cash $638,250
Credit 8% Preferred stock $575,000
Credit Additional Paid-in Capital -Preferred Stock $63,250
To record the issuance of 5,750 shares of preferred stock for cash at $111 per share.
Apr. 1: Debit Land $80,020
Credit Common Stock $24,660
Credit Additional Paid-in Capital - Common Stock $55,360
To record the issuance of 24,660 shares of common stock for land with a fair value of $80,020
May 1: Debit Cash $720,180
Credit Common Stock $80,020
Credit Additional Paid-in Capital - Common Stock $640,160
To record the issuance of 80,020 shares of common stock for cash at $9 per share.
Aug. 1: Debit Attorney Fees Expense $49,100
Credit Common Stock $9,500
Credit Additional Paid-in Capital- Common Stock $39,600
To record the issuance of 9,500 shares of common stock to attorneys in payment of their bill of $49,100 for services rendered in helping the company organize.
Sept. 1: Debit Cash $104,500
Credit Common Stock $9,500
Credit Additional Paid-in Capital - Common Stock $95,000
To record the issuance of 9,500 shares of common stock for cash at $11 per share.
Nov. 1: Debit Cash $111,550
Credit 8% Preferred Stock $97,000
Credit Additional Paid-in Capital - Preferred Stock $14,550
To record the issuance of 970 shares of preferred stock for cash at $115 per share.
Explanation:
a) Data and Analysis of Transactions:
Jan. 10: Cash $560,140 Common Stock $80,020 Additional Paid-in Capital - Common Stock $480,120
Mar. 1: Cash $638,250 8% Preferred stock $575,000 Additional Paid-in Capital -Preferred Stock $63,250
Apr. 1: Land $80,020 Common Stock $24,660 Additional Paid-in Capital - Common Stock $55,360
May 1: Cash $720,180 Common Stock $80,020 Additional Paid-in Capital - Common Stock $640,160
Aug. 1: Attorney Fees Expense $49,100 Common Stock $9,500 Additional Paid-in Capital- Common Stock $39,600
Sept. 1: Cash $104,500 Common Stock $9,500 Additional Paid-in Capital - Common Stock $95,000
Nov. 1: Cash $111,550 8% Preferred Stock $97,000 Additional Paid-in Capital - Preferred Stock $14,550
Related Questions
1. McIntyre Company adheres to a policy of depositing all cash receipts in a bank account and making all payments by check. The cash account as of December 31 has a credit balance of $1,850, and there is no undeposited cash on hand. (a) Assuming no errors occurred during journalizing or posting, what caused this unusual balance? (b) Is the $1,850 credit balance in the cash account an asset, a liability, stockholders’ equity, a revenue, or an expense?
2. If the two totals of a trial balance are equal, does it mean that there are no errors in the accounting records? Explain
Answers
1a) Assuming no errors occurred during journalizing or posting, the cause of the unusual balance is an overdraft.
1b) The $1,850 credit balance in the cash account is a liability.
2. If the two totals of a trial balance are equal, it does not mean there are no errors in the accounting records.
What errors do not affect the trial balance?Some accounting errors do not make the trial balance to be unequal.
Some of the errors that will not affect the trial balance include:
Errors Of PrincipleErrors of OmissionIncorrect reportingTransposition ErrorCompensating ErrorsErrors Of CommissionReversal Of Entry ErrorLate payment charges.When anyone of the above errors occurs, the trial balance will still be in balance, and the two totals will be equal.
Data and Calculations:Cash account balance on December 31 = $1,850 Credit
Thus, when the Cash account has a credit balance, it signifies an overdraft, especially when the balance is significant.
Learn more about bank overdrafts at https://brainly.com/question/13402441
#SPJ1
define bank run in your own words.
Answers
Answer:
A bank run occurs when a large number of customers of a bank or other financial institution withdraw their deposits simultaneously over concerns of the bank's solvency. As more people withdraw their funds, the probability of default increases, prompting more people to withdraw their deposits.
Last year, total sales for your grocery store were $17,000 with returns of $457 and discounts of $700. The linear feet of shelving in the store totals 650. What are the sales less returns and discounts per linear foot of the store
Answers
Answer:24.37
Explanation:
24.37 just plug your formula and multiply the cash with store :)
Why is it important to minimize the number of people who report directly to the fire chief
Answers
Effective Communication: Communication becomes increasingly complex and challenging to manage as the number of individuals reporting directly to the fire chief rises.
What is the significance of fire prevention and safety?By putting a plan in place to avoid fires, you can dramatically minimize the amount of damage they can do and prevent them from starting in the first place.
What is the significance of workplace fire safety?To avoid and guard against the destruction brought on by fire, workplace fire safety is crucial and required. Fire safety lowers the possibility of injuries and building damage that can result from fires.
To know more about management visit:-
brainly.com/question/29023210
#SPJ1
you can have your cake or chose to eat it
this is example of property rights providing tye right for you to
enjoy property
own property
exclude people from your property
Exchange property
Answers
Answer:
Exclude people from your property
On August 31, 2021, the general ledger of The Dean Acting Academy shows a balance for cash of $7,744. Cash receipts yet to be deposited into the checking account total $3,138, and checks written by the academy but not yet processed by the bank total $1,225. The company's balance of cash does not reflect a bank service fee of $15 and interest earned on the checking account of $26. These amounts are included in the balance of cash of $5,842 reported by the bank as of the end of August. Required: 1. Prepare a bank reconciliation to calculate the correct ending balance of cash on August 31, 2021. (Amounts to be deducted should be indicated with a minus sign.)
Answers
Answer:
Dj Khalid why am I yelling
Explanation:
fatfat
What happens when demand decreases while supply increases
Answers
Explanation: When demand decreases while supply increases, it creates a situation of surplus, also known as oversupply. This is because there is now more supply available in the market than there is demand for it, leading to a surplus of goods or services.
As a result, businesses may have to lower their prices to incentivize consumers to purchase their products or services. This can lead to a decrease in revenue for the businesses and potentially even lower profits. In some cases, businesses may also need to reduce their supply in response to the decrease in demand.
If the surplus persists over a longer period, businesses may also need to cut costs, such as reducing staff or production capacity, in order to remain profitable. This can have broader economic implications, such as rising unemployment rates and a decrease in overall economic activity.
Overall, a decrease in demand while supply increases can have negative consequences for businesses and the economy as a whole.
Answer: When demand increases and supply increases it leads to reduction in the equilibrium price.
Explanation:
The market price will fall as a result of a decline in demand and an increase in supply because, for any quantity, consumers now place a lower value on the item and producers are ready to accept a lower price.
For information on equilibrium price refer,
https://brainly.com/question/13846894
1. Assume two countries (Portugal & Britain) each produce wine and cloth. Given the following details with respect to resources required to produce each good in each country, answer the following questions. b. a. What is the opportunity cost of producing each good in each country? (4 Points) Draw the Production Possibilities Frontier for each country assuming no trade and 500,000 labor hours (use wine as the x-good). (10 Points) Provide an interpretation of the slope of the PPF in this example (8 Points) If these countries engaged in international trade, in what range would the relative prices have to be to ensure mutually beneficial trade, and which good would each country specialize in? (10 Points) e. Assuming the relative price with trade of wine is 0.67 cloth and the relative price of cloth is 1.48 wine, calculate the gains from trade and show on the PPFs the expanded consumption choices for each country. (16 Points) c. d. Country Production (1 Hour of Labor Time) Cloth Wine Portugal 2.85 Britain 3.4 5.3 4.2
Answers
a. The opportunity cost of producing wine in Portugal is 0.35 units of cloth, and the opportunity cost of producing cloth in Portugal is 2.85 units of wine.
b. The slope of the PPF represents the opportunity cost of producing one good in terms of the other. In this case, the slope of Portugal's PPF is -0.35, and the slope of Britain's PPF is -0.71.
c. If these countries engaged in international trade, the relative prices of wine and cloth would have to be within the range of Portugal's opportunity cost of producing wine (0.35 units of cloth) and Britain's opportunity cost of producing wine (0.71 units of cloth).
d. Assuming the relative price with trade of wine is 0.67 cloth and the relative price of cloth is 1.48 wine, then Portugal would specialize in producing wine and Britain would specialize in producing cloth. Portugal would export wine and import cloth, and Britain would export cloth and import wine.
How to explain the informationIf the relative price of wine were below 0.35 units of cloth, then Portugal would be able to produce wine more cheaply than Britain, and it would not be in Portugal's interest to trade. If the relative price of wine were above 0.71 units of cloth, then Britain would be able to produce wine more cheaply than Portugal, and it would not be in Britain's interest to trade.
The gains from trade are the increase in consumption that countries experience after they specialize and trade. In this case, the gains from trade are represented by the shaded area in the graph. The gains from trade are a result of the increased efficiency that is possible when countries specialize in the production of goods that they have a comparative advantage in.
Learn more about opportunity cost on
https://brainly.com/question/1549591
#SPJ1
What does Marketing mean to you?
Answers
1. When distribution team members use replenishment reports to retrieve quantities of items to be sent to stores they are:
O A. Mixing
O B. Sending
O C.Packing
O D. Picking
Answers
Answer:
D. Picking.................
Distribution team members use replenishment reports to retrieve quantities of items to be sent to stores, this is called as Picking. Hence, Option D is the correct statement.
What is the picking system?Systems for picking orders from warehouses are created to improve picking operations' effectiveness, speed, and accuracy. A few of these systems can be used by businesses to improve order fulfillment processes in their distribution channels.
Hence, Distribution team members use replenishment reports to retrieve quantities of items to be sent to stores, this is called as Picking. Option D is the correct statement.
Learn more about distribution channels:
https://brainly.com/question/11379146
#SPJ5
Employees who are paid a set annual wage regardless of the number of hours worked or the amount of work completed are paid on a(n) _____ basis.
commission
commission
contract
contract
hourly
hourly
salary
Answers
Salary
it is the only thing that is a set wage no matter the hours and work completed
The typical consumer buying process include which of the following steps?
Environmental scanning, need recognition, research, purchase, post-
purchase evaluation
Information search, need recognition, benefit alignment, selection, post-
purchase evaluation
Information search, need recognition, evaluation, purchase, post-
purchase evaluation
Need recognition, information search, evaluation, purchase, post-
purchase evaluation
Answers
The typical consumer buying process include option D: Need recognition, information search, evaluation, purchase, post- purchase evaluation
Why is the purchase process crucial for consumers?Consumer buying behavior describes the steps that consumers take before making a purchase of a good or service, both online and offline. Search engine research, participation in social media discussions, and a range of other activities could be part of this process.
Businesses may select how to promote their goods and services most effectively by comprehending how consumers think, feel, and make decisions. This aids in predicting consumer behavior and helps marketers promote their already-available goods and services. 2
There are five fundamental steps in the decision-making process for consumers. Consumers use this technique to weigh their options before making a purchase. Problem identification, information search, as well as alternative assessment, buy decision, and post-purchase evaluation are all the five steps.
Learn more about consumer buying process from
https://brainly.com/question/13246163
#SPJ1
successfulness of the competition policy in South Africa
Answers
Explain two advantages to TGH of segmenting the market for sport shoes
Answers
1. Targeted Marketing: By segmenting the market, TGH can identify specific groups of consumers with distinct needs, preferences, and behaviors related to sport shoes. This allows them to tailor their marketing efforts and product offerings to meet the specific demands of each segment. For example, they can develop different marketing messages, designs, or features for segments such as professional athletes, casual runners, or fashion-conscious individuals. This targeted approach enhances the effectiveness of marketing campaigns, leading to increased customer engagement, brand loyalty, and ultimately, higher sales.
2. Competitive Advantage: Segmenting the market can help TGH gain a competitive edge over rivals. By focusing on specific segments, TGH can better understand their unique requirements and deliver superior products and services compared to competitors who adopt a more generic approach. This can lead to enhanced customer satisfaction and loyalty within those segments. Additionally, TGH can identify niche or underserved segments within the sport shoe market and develop specialized products to cater to their needs. By catering to these niche segments, TGH can differentiate itself from competitors and establish a strong position in the market.
Overall, market segmentation allows TGH to optimize their marketing efforts, cater to diverse consumer needs, and gain a competitive advantage by focusing on specific market segments.
What happens when you refinance a student loan?
Answers
A lender replaces your old loans with a new one that has a lower interest rate when you refinance A student loan
What is a student loan?A student loan is a specific kind of loan intended to assist students in covering the costs of post-secondary education and related expenses, including tuition, books, and living costs. In comparison to other loan kinds, it could have a much cheaper interest rate and a deferred repayment plan while the borrower is still enrolled in school.
A lender replaces your old loans with a new one that has a reduced interest rate when you refinance. That can help you save money over time, starting with your first payment. Whether you'll find a rate that changes your life will determine when to refinance your student loans.
Learn more about student loans here https://brainly.com/question/28955365
#SPJ1
Students should think of a product or service idea that they think would sell. It can even be a hobby in which they are interested in (i.e. clothes, shoes, jewelry, make-up).
They are to narrow down the market to a niche market (i.e. teens, children, boys, girls, Adults), then create one offline marketing document (a flyer) using Microsoft Publisher or Microsoft Word, to promote their product/products.
Research to see what these types of ads can look like if you are unfamiliar with them.
Answers
Selling clothes will be a good idea and would provide better returns/ profits to the seller.
What is clothes Business?Clothes business is a business that sells clothes, the customers wear clothes and so describes their personality before they even speak, the customer therefore have different tastes to purchase the type of clothes that suits them, the color, the design and the soft wearable and comfortable material.
A flyer can easily be made on Microsoft Word, take a blank page to start add the title of the business name, then add the details about the nature of clothes that is shirts, t-shirts, jeans, pants and more. Then in the next line add the description of which market is targeted that is the potential customer that is the teenagers. In the end the address of the shop is to be added. A low price tag or starting from only $x can be used to attract more customers.
Learn more about clothes business at https://brainly.com/question/27068985
#SPJ1
a group that managers or nonmanagerial employees form to help achieve their own goals or meet their own needs is called a(n)
Answers
A group that managers or nonmanagerial employees form to help achieve their own goals or meet their own needs is called a(n) informal group.
What is an informal group?An informal group is one that has no organizational control over it and is typically created by its members out of a desire for social interaction.
There are folks that share rides, play together, eat lunch together, and possibly even work together. These unofficial groupings originate for a variety of reasons, including shared hobbies, a common language, or other interpersonal ties.
Formal Groups are those formed by the organization with the intention of carrying out a certain task. Informal Groups are those formed by employees only for their own benefit.
Read more on informal groups here: https://brainly.com/question/13755793
#SPJ1
Acheson Corporation, which applies manufacturing overhead on the basis of machine-hours, has provided the following data for its most recent year of operations. Estimated manufacturing overhead $ 157,050 Estimated machine-hours 4,500 Actual manufacturing overhead $ 156,000 Actual machine-hours 4,580 The estimates of the manufacturing overhead and of machine-hours were made at the beginning of the year for the purpose of computing the company's predetermined overhead rate for the year. The overhead for the year was:
Answers
Answer:
Over-applied by $3,842
Explanation:
If, Applied Overheads > Actual Overheads, overheads have been overapplied.
and
Since, Applied Overheads < Actual Overheads, overheads have been under- applied.
Applied Overheads = Predetermined rate x Actual Activity
where,
Predetermined rate = Budgeted Overheads ÷ Budgeted Activity
therefore,
Predetermined rate = $ 157,050 ÷ 4,500
= $34.90
Applied Overheads = $34.90 x 4,580 = $159,842
Since, Applied Overheads > Actual Overheads, overheads have been overapplied.
Over-applied overheads = $159,842 - $ 156,000 = $3,842
in a market characterized by monopolistic competition, firms often use non-price competition to increase sales. which of the following is not a form of non-price competition?
Answers
in a market characterized by monopolistic competition discounts is not a form of non-price competition.
Monopolistic competition, a type of imperfect competition, sets several producers against one another while still delivering goods that can be differentiated from one another (for instance, by branding or quality) and are therefore not exact substitutes. In monopolistic competition, a company disregards how the prices established by its rivals would effect its own prices and accepts the prices set by those rivals as given. If this happens in the face of a forceful government, monopolistic competition will transform into a government-granted monopoly. The company maintains more capacity in contrast to the ideal competition. Monopolistic competition models are commonly used in industry models. Some examples of industries with market structures that resemble the monopolistic rivalry from textbooks are restaurants, cereals, clothing, shoes, and service sectors in large cities.
Learn more about monopolistic competition:
https://brainly.com/question/29407851
#SPJ4
Complete question is here:
in a market characterized by monopolistic competition, firms often use non-price competition to increase sales. which of the following is not a form of non-price competition?
A)perfect competition
B) oligopoly
C) Discounts
D)is unique
PuLL M5 ucides diu Sdles Omalom
Sales
Purchases
20 units at $110
20 units at $120
January:
February:
May:
November:
15 units
10 units at $130
Using the weighted average inventory costing method, what is the value of the cost of goods sold on May?
$2,650
B. $2,670
C. $4,240
$1,725
Answers
Answer:
d. $1,725
Explanation:
Note: The organized question is attached below
Cost of goods available for sale as on May
=> 20 * $110 = $2,200
=> 20 * $120 = $2,400
Total cost of goods available for sale = $2,200 + $2,400 = $4,600
Weighted average cost per unit = Cost of goods available for sale / Units in inventory
Weighted average cost per unit = $4,600 / (20 + 20)
Weighted average cost per unit = $4,600 / 40
Weighted average cost per unit = $115
Cost of goods sold by using weighted average method on May = Units sold * Weighted average cost per unit = 15 * $115 = $1,725
So therefore, the value of the cost of goods sold on May is $1,725
A. Monique balls is paid an hourly rate of $17.63 for a regular time work. What will her time and a half hourly rate for overtime work?
B. What will be her double-time hourly pay rate for overtime?
Answers
Business forms that have unlimited personal liability include
Answers
Answer:
sole proprietorship and partnership
Explanation:
They both have unlimited personal liability
The person granting another person to act on their behalf using a power of attorney is called a _______________. A) Potentate B) Premier C) Principal D) Agent E) None of the above Mark for follow up
Answers
Answer:
Principal
Explanation:
Jim has to step into an existing high-priority project as the current project manager has suddenly reported sick just before an important milestone. He finds that the team is exhausted on account of the high workload, morale is low, and the client is pushing forward with previously agreed but clearly unreasonable deadlines. 1. What is the second most effective responsive? Jim decides to set the house in order. He informs his director with a status report detailing the issues, informs him that he would be talking with the client to discuss the deadlines, and needs to sit with the team to review and resolve the issues to the extent possible before the next scheduled delivery. Jim tries to maintain the status quo and presses forward with the team to ensure client deadlines are met, no matter what. It is just a matter of holding the fort till the original project manager is back. Jim decides it is not worth stake his reputation on an ill-fated project, informs his director accordingly with a status report detailing the issues, and excuses himself from the project.
Answers
The second most effective response is, Jim decides to set the house in order. He informs his director with a status report detailing the issues, informs him that he would be talking with the client to discuss the deadlines, and needs to sit with the team to review and resolve the issues to the extent possible before the next scheduled delivery. Option a is correct.
The second most effective response would be option (a). Jim needs to communicate with the director about the situation and then address the issues with the team and client. It is important to set realistic expectations and ensure that everyone is on the same page. Ignoring the problems and pressing forward (option b) could result in further burnout and even more problems down the line.
Walking away from the project (option c) is not a good option either, as it does not address the current situation and could harm Jim's professional reputation. It is important to take responsibility and make an effort to improve the situation to the best of Jim's ability. Option a is correct.
To know more about milestone, here
brainly.com/question/28812051
#SPJ1
Based on market values, Gubler's Gym has an equity multiplier of 1.46 times. Shareholders require a return of 10.91 percent on the company's stock and a pretax return of 4.84 percent on the company's debt. The company is evaluating a new project that has the same risk as the company itself. The project will generate annual aftertax cash flows of $277,000 per year for 7 years. The tax rate is 39 percent. What is the most the company would be willing to spend today on the project
Answers
Answer:
The answer is "5.4% and 15,23,500".
Explanation:
Calculating the capital cost:
\(=(1-\frac{1}{1.46})\times 10.91\% \times (1-39\%)+(\frac{1}{1.46})\times 4.84\% \\\\=(\frac{1.46-1}{1.46})\times \frac{10.91}{100} \times (\frac{100-39}{100})+(\frac{1}{1.46})\times \frac{4.84}{100} \\\\ =(\frac{0.46}{1.46})\times \frac{10.91}{100} \times (\frac{61}{100})+(\frac{1}{1.46})\times \frac{4.84}{100} \\\\=\frac{306.1346}{14600}+\frac{4.84}{146} \\\\= 0.021+0.033 \\\\ =0.054\\\\= 5.4\%\)
Maximum amount to be spent
\(=\frac{277,000\times 100 }{5.4} \times (1-\frac{1}{(1.054)^7})\\\\=\frac{277,000\times 100 }{5.4} \times (1-\frac{1}{1.44})\\\\=\frac{277,000\times 100 }{5.4} \times (1-0.7)\\\\=277,000 \times 100\times 0.055\\\\=\$15,23,500\\\)
Why is it important to take notes during long lectures or discussions?
a) To review material later
b) To make sure speakers do not change their opinion in later lectures
c) To reuse notes when giving a presentation
d) To quiz the speakers
Answers
Answer:
B. to make sure speakers do not change their opinion in later lectures.
Were you surprised to learn how much companies focus on the teen market? Explain.
Answers
Answer:
Yes, a large percentage of consumers are influenced by people who are present on the internet, who are mostly younger people. In order to generate income, advertisements for young people are becoming less and less advertising look like.
For this reason, advertising pieces should always aim to entertain and inform, only to later sell. The experience with advertising content should be positive.
The teen audience may have many different tastes, but there is a high probability that everyone will use a cell phone. The device is part of the daily lives of young people and it is through it that teenagers communicate, consume content, and even shop.
Which professional has helped Jennifer in this example?
Jennifer bought a new smart phone from a local store that sells electronic products. After a week, she started experiencing problems with the
phone's display screen. She went back to the store and spoke to its ___
representative, who replaced the product and
apologized for the inconvenience.
Answers
Answer:
would it be sales representative since they were only able to replace the device and apologize
Answer:
customer service
Explanation:
I'm smart and got it right on my test
Consider total cost and total revenue, given in the following table:
In the final column, enter profit for each quantity. (Note: If the firm suffers a loss, enter a negative number in the appropriate cell.)
Total Cost Marginal Cost
(Dollars)
Quantity (Dollars)
0
1
2
3
4
5
6
7
5
6
8
11
15
20
26
35
05
06
07
Total Revenue Marginal Revenue
(Dollars)
(Dollars)
0
6
12
18
24
30
36
42
AAAAAAA
Profit
(Dollars)
In order to maximize profit, how many units should the firm produce? Check all that apply.
04
Answers
The solution to the given question when we consider total cost and total revenue, given in the following table:
The Financial TableQuantity | Total Cost | Marginal Cost | Total Revenue | Marginal Revenue | Profit
------- | -------- | -------- | -------- | -------- | --------
0 | 5 | 5 | 0 | 0 | -5
1 | 11 | 6 | 6 | 6 | 1
2 | 17 | 6 | 12 | 6 | 5
3 | 24 | 7 | 18 | 6 | 4
4 | 31 | 8 | 24 | 6 | -7
5 | 39 | 8 | 30 | 6 | -9
6 | 47 | 8 | 36 | 6 | -11
7 | 55 | 8 | 42 | 6 | -13
As you can see, the firm's profit is maximized at quantity 3. This is because the marginal revenue is equal to zero at this point, which means that the firm is not making any additional profit by producing more units. In fact, if the firm produces more units, it will actually start to lose money.
Therefore, the answer to the question is 3.
In summary:
The firm's profit is maximized at quantity 3.This is because the marginal revenue is equal to zero at this point.If the firm produces more units, it will start to lose money.Therefore, the answer to the question is 3.Read more about marginal revenue here:
https://brainly.com/question/13444663
#SPJ1
in medieval europe, a ___ was an association of artisans or workers skilled in a certain craft.
Answers
Answer: In medieval Europe, a guild was an association of artisans or workers skilled in a certain craft.
Explanation: Guilds are groups of craftsmen and merchants founded to promote their members' economic interests while also providing protection and mutual aid. Guilds were common throughout Europe between the eleventh and sixteenth centuries, serving as both business and social groups.