In a particular geographical area, the demand function for each personifor a particular goodisqdi= 100 + 0.2Ii−9Pwhereqdiis quantity demanded for personi, Iiis personi’s income, andPis the commodity’sprice. (Note thatPis constant across individuals, since all individuals face the same price. Therefore noisubscript is needed.) For the firms in this area the supply function for thisgood isqsj=−50 + 20Pwhereqsjis the quantity supplied of the good by firmj. (Note that a different subscript isneeded. Why?) There are 5 firms and 100 consumers. Total income of the consumers is$100,000. Equilibrium occurs wher

Lincoln company has an accounting policy for internal reporting purposes whereby the costs of any research and development projects that are over 70 percent likely to succeed are capitalized and then depreciated over a five-year period with a full year of depreciation in the year of capitalization. in the current year, $400,000 was spent on project one, and it was 55 percent likely to succeed, $600,000 was spent on project two, and it was 65 percent likely to succeed, and $900,000 was spent on project three, and it was 75 percent likely to succeed. in converting the internal financial statements to external financial statements, by how much will net income for the current year have to be reduced? a. $180,000b. $380,000c. $720,000d. $900,000

Specialization—the division of labor—enhances productivity and efficiency by a) allowing workers to take advantage of existing differences in their abilities and skills. b) avoiding the time loss involved in shifting from one production task to another. c) allowing workers to develop skills by working on one, or a limited number, of tasks. d)all of the means identified in the other answers.

Which of the following is one of the advantages primarily associated with a performance appraisal? (a) it protects employees against discrimination on the basis of race. (b) it motivates employees to work on their shortcomings. (c) it encourages employees to play the role of the whistle-blower. (d) it accurately measures the resources of the firm.