The Likert Company is a coal company based in West Virginia. The company recently purchased a new coal truck for $64,000. The truck had an expected useful life of 200,000 miles and an expected salvage value of $4,000. Calculate the depreciation expense using the units-of-production method assuming the truck travelled 40,000 miles on company business during the year.

Witch is an example of a non durable good?

The prebisch–singer hypothesis concludes that: a. technology lowers the cost of manufactured products, so developing countries should see an increase in their terms of trade. b. developing countries experience a long-run decline in their terms of trade, as the demand for primary products in higher-income countries declines relative to their demand for manufactured goods. c. because of unfair trading practices, labor in developing countries is exploited. d. opec has been responsible for a slowdown in the world's standard of living.

In a perfectly competitive market, the long-run market supply curve tends to be horizontal or nearly so. what is another way to state this fact? (a) market supply is much more elastic in the long run than the short run. (b) in the long run, average total cost is minimized. (c) in the long run, price equals marginal cost. (d) market supply is much less elastic in the long run than the short run.