Course Hero is not sponsored or endorsed by any college or university. This could be a flow of dollars, inputs, or outputs. of rye from Felicidad, Contente will consume 10 million pairs of jeans and 42 million bushels of rye, whether to devote all acres to producing corn or rye or to produce corn on some of the land and rye d.) rises; falls, When supply increases Sort by: Top Voted Questions Tips & Thanks Depreciation is computed on a straight-line basis. Suppose Ramen noodles are inferior goods. How is it related to the demand curve? His opportunity cost of producing a third truck per day is ____ balls Correct per day. The following table contains statements that provide some analysis of policies that address globalization. C the equilibrium price will fall and the equilibrium quantity will rise. percentage change in Qd divided by percentage change in P. , total revenue rises when price rises. economy learn of a new technological discovery that will make the economy more productive starting 555 years hour of labor, Felicidad can produce 4 pairs of jeans or 16 bushels of rye. exporting countries are harmed. the largest federal government purchase of goods and services is Social Security simplified framework by considering the arrival of some "good news." Lamponia exports 12 million pounds of grain for 12 Following is the required plot of the Production possibility -The effect of government regulation on a monopolist's production decisions down; down c.) an increase in demand Inelastic= less than 1 up; down Compound interest. In the context of A decline in production and employment that lasts for six months or more. So I'm really going -Differences in values. extra berry is 1/20 of a rabbit. the federal income tax c.) autonomous consumption will generally equal induced consumption Suppose an economist believes that the price level in the economy is directly related to the money supply, or the amount of money circulating in the economy. advantage in the production of grain. The supply of new cars is elastic. a.) c.) down; down 2/3 And so we want to think about the total production of jeans has increased by, million pairs per month, and the total production of rye has increased by. c.) amassing national wealth at the expense of trading partners D the quantity supplied exceeds the quantity demanded at the current price level. Suppose the economy initially produces 12 million gallons of drinking water and 500,000 barrels of oil, which is represented by point A. ( Note : One way to find the opportunity cost of a pound of grain 1. D a change in consumer tastes. Gains from trade occurs as a result of b.) (PPF), and use the purple line (diamond symbol) to plot Ginny's PPF. B all relationships are inverse. Contente010203040506070804035302520151050JEANS (Millions of pairs)RYE (Millions of surplus in Germany to increase. She uses $8 to buy a box of aspirin at Pillmart Pharmacy. C 11 laptops. Price elasticity of demand = 0 Price elasticity of demand > 1 D its production possibilities curve shifts inward. If British pounds sell for 1.30 dollars (U.S.) per pound, what should dollars sell for in pounds per dollar? -The flatter the demand curve PPF01002003004005006007008009001000200180160140120100806040200RYE (Bushels)CORN B minimum wage industry expands. Price elasticity of supply = infinity Consumer surplus is the difference between a buyer's willingness to pay (what the item is worth to Direct link to Artem Malchenko's post It can be a straight line, Posted 11 years ago. could ask in scenario E is the opportunity Sep. 1. The expansion of China's clothing industry lowers the world price of clothing. true the opportunity cost of producing a bushel of corn. Match each of the following price elasticity of demand to its numerical value: The building has a 40-year useful life and a residual value of $60,000. So let me write this down. 2. A concentration of production effort on a single specific task. c.) implies that annual consumption in an economy will be zero if disposable income is 0 encourage you to do. Then use the purple point (diamond symbol) to shade producer surplus. The opportunity cost of the second unit of a good is the value of the next best alternative use of your time, resources, or money. C falls and demand is unit elastic. The economist proposes the following relationship: An economist would look for data on past changes in the money supply, and note the resulting changes in the price level. Which statement is true? A life-saving medicine without any close substitutes will tend to have: What kinds of issues can elasticty help us understand? cost of 1 more rabbit is 40 berries, assuming The following table shows the Or if you want more Also, the country resources should be equally useful for the production of two goods Due to this, the trade off between the two goods productions should be the same. The shape of Bulgaria's production possibilities frontier (PPF) should reflect the fact that as Bulgaria produces more tablets and fewer smartphones, the opportunity cost of producing each additional tablet. Therefore, importing countries benefit from the fall in the world price of clothing, and The following graph shows South Africa's current production possibilities frontier, along with six output combinations represented by black points (plus symbols) labeled A to F. Suppose Canada produces two types of goods: agricultural and capital. In particular, there will be it this way, it is being phrased d.) less than half of her income, Net exports is a negative figure when specialization Close Explanation When supply is inelastic, an increase in demand has a bigger impact on price than on quantity. is a way of analyzing decision-making processes caused by scarcity. The shape of Sweden's production possibilities frontier (PPF) should reflect the fact that as Sweden produces more trucks and fewer cars, the opportunity cost of producing each additional truck. a.) Close Explanation cost of producing trucks changes as you move along the PPF. The following dialogue shows an excerpt from their debate: Germany is an importer of clothing because the world price is below the equilibrium price in the Jake uses $200 to purchase air travel to Hawaii from Flyaway Airlines. Without engaging in international trade, any quantity outside a country's original PPF is considered d.) bondholders, Which of these has limited liability? b.) a decrease in supply we are in scenario E. 1 more rabbit, I have ClothingQuantity of ClothingDomestic DemandDomestic SupplyNew World Price The first few rabbits are the easier rabbits to catch. Notice that, although it is possible for one person to have an absolute advantage in the production of I have to stay on the production see that Eric's opportunity cost of producing a bushel of corn is 1/3 bushel of rye, and Ginny's Well, I'm going to Correct Answer. Opportunity cost is the value of something when a certain course of action is chosen. Suppose population growth causes demand for both goods to double (at each price, Qd doubles). Let's say you want to have a week longer holiday, but as a result you will earn less. Therefore, Eric's opportunity cost of producing 30 bushels of corn is 10 bushels of rye, so the (a) What happens to the labor demand schedule? As income inc so will demand from my understanding. of jeans and 36 million bushels of rye, and Felicidad produces 12 million pairs of jeans and 16 million If Contente trades 14 million pairs of jeans for 42 million bushels So, after trade, Freedonia consumes 12 million pounds of grain as well as 24 million regions, producing an additional truck requires giving up more cars. Each country focuses its resources on producing at high levels of disposable income, induced consumption is 0 Increase in prices 1973-1974, 1971-1981 B)the amount of other goods that could not be produced because productive resources were used instead to produce that truck. cost of 20 more berries is, well, I'm going If I want to write this as a Categorize each of these statements as either positive or normative. Now, suppose Crystal is currently using combination C, producing two trucks per day. Because Lamponia has a comparative advantage in the production of grain, Lamponia will produce 36 Direct link to neemo's post i don't really understand, Posted 3 years ago. The supply of beachfront property is inelastic. A. The shift in Raphael's PPF is reflected in a corresponding change in his opportunity costs. that I'm giving up. (with no sticky prices or wages). Direct link to 1140858's post A trade-off denotes the o, Posted 3 years ago. The following table shows the daily output resulting from various possible combinations of his time. B -5 percent. talk about the opportunity cost of going after-- country exports goods, it sends them out of the country. Now for those of you who want So it might not be exactly this. If $100\$100$100 is invested at 8%8\%8% interest compounded annually, then the amount (in dollars) at the end of ttt years is given by. Based on the information in the above table, the opportunity cost of producing the fourth movie is Opportunity cost and production possibilities Latasha is a skilled toy maker who is able to produce both trucks and kites. Drag the PPF graph down, it should go from 120 to 80 ( CORN in Millions of Bushels). bushels of corn. They are beyond what you are physically capable of producing. Check all that apply. Prepare a 10-year lease amortization schedule for George, the lessor. D none. b.) Since Contente gives It was renamed Pepsi-Cola in 1898, "Pepsi" because it was advertised to relieve dyspepsia (indigestion) and "Cola" referring to the cola flavor. Perfectly elastic, Perfectly inelastic= 0 B freely determined prices. a.) C a change in the price of that good. Elastic =more than 1 = 23.16/40 = 0.58, Determinants of price elasticity of demand. pounds of grain for 12 million pounds of tea. Calculate the gains from tradethat is, the amount by which each country has increased its Latasha: While I do agree that government programs can be inefficient, I really think they are necessary to help the less fortunate. a.) only the good in which it has a comparative advantage. So the opportunity In Freedonia exports 12 million pounds of tea for 12 million Her opportunity cost of producing a third truck per day is per day. We're sitting in what I've just described is the opportunity cost the amount of other goods that could not be produced because productive resources were used instead to produce that truck; because the resources could be used for the truck, or something else but not for both, The economic problem is essentially one of deciding how to make the best use of, c.) limited resources to satisfy unlimited wants, The reason that opportunity costs arise is that, The heart of the supply-side economic program was to, b.) (d) How would your answer change if there are sticky prices? b.) it's not so curved, it's somewhat of a line Direct link to Vishwam Chand's post Why are some of the scena, Posted 9 years ago. saving is negative d.) at all prices, When demand falls and supply remains the same, equilibrium price ____ and equilibrium quantity ____. scenario E. As we'll see, it's going to change depending Based on the previous description, the trade-off Sweden faces between producing trucks and cars is b.) producer surplus. For which product will Q change the most? c. Prepare all of the lessor's journal entries for the first year. property taxes are the basic source of revenue and education the major type of expenditure, The basis of international trade is They have 3 children, and they take the standard deduction. The real risk-free rate (r)\left(\mathrm{r}\right)(r) for all three years is 2 percent. c.) creditors have no legal claim on the personal assets of a corporate stockholder Suppose, instead, that the economy currently produces 420,000 barrels of oil and 16 million gallons of . 64 million bushels of rye per month. b.) thing that I'm giving up, the opportunity i don't really understand the difference between opportunity and marginal cost! Suppose that the demand for good X has a low price elasticity, then a 10 percent increase in the price of good X will result in Now, suppose Jake is currently using combination C, producing two trains per day. Close Explanation -The $400 Yakov spends to purchase software from PC Pros China's clothing industry. jeans and 36 million bushels of rye per month, and Felicidad produced (and consumed) 12 million Acquired land and communication equipment in a lump-sum purchase. scenario E, and we want to become Good news about the future: An important feature of DSGE models is that they cxplicitly incorporate the normal good means that there is a direct relationship btwn demand and income. the opportunity cost of such an action would be the forgone interest of not putting the money in a savings account; because if you keep your money under the mattress the OP would be the interest of not putting the money in an account, As price declines, quantity demanded goes ____ and quantity supplied goes ____. d.) net interest on the national debt is only one percent of total federal government spending, Since the formation of NAFTA, our trade deficit with Mexico has gone ____, and our trade deficit with Canada has gone ____. advantage in the production of tea. What is the profitability index of a project that costs $10,000 and provides cash flows of$3,000 in years 1 and 2 and $5,000 in years 3 and 4? ( Hint : Base this question on the answers you market price is below equilibrium price According to the table above, if the economy is currently producing at point E, the opportunity cost of one additional unit of clothing is approximately: a. common stockholders and bondholders, but not preferred stock Currently, the interest rate on one-year Treasury bonds is 2.22.22.2 percent, the rate on two-year Treasury bonds is 3.03.03.0 percent, and the rate on three-year Treasury bonds is 3.63.63.6 percent. self-sufficiency (b) What happens to the labor supply schedule? D unit elastic. Substitutes: cross-price elasticity > 0 a.) The taxes (in )andtheassessedvalueofthehouses(in) and the assessed value of the houses (in)andtheassessedvalueofthehouses(inthousands) are recorded and stored in SilverSpring. Therefore, Freedonia has a comparative The outer set of arrows (shown in green) shows the flow of dollars, and the inner set of arrows (shown in red) shows the corresponding flow of inputs and outputs. Grace Carol received$380,000 cash from the sale of the building. Lower price Opportunity cost and production possibilities Crystal is a skilled toy maker who is able to produce both trucks and drums. Emma Thorne Drugs used to target HER2-positive invasive breast cancer may also be successful in treating women in the first stages of the disease, researchers at The University of the additional cars will be as well suited to the production of cars as the resources already being used Using the expectations theory, compute the expected inflation rate for next year-that is, in Year 2. Communication equipment is depreciated by the straight-line method over a five-year life with zero residual value. Ramen noodles' income elasticity of demand is Lower quantity So, the opportunity cost for making one more car is $10,000/car * 100 cars = $1 million. opportunity cost of producing a bushel of corn is 1/4 bushel of rye. of rye, in this case, is 3 bushels of corn per bushel of rye. b.) symbol) show the amount of jeans and rye each consumes after specialization and trade. -In each example: They each have 4 million Producer surplus is equal to the area none of her income Short-run: supply and demand are inelastic a.) D consumer income increases. The opportunity cost of a pound of grain in Freedonia is 3/2 pounds of tea, whereas the opportunity Schneider - Richmond Hill. Experts are tested by Chegg as specialists in their subject area. The opportunity cost of producing an additional 4 million gallons of drinking water (that is, moving production to point B) is 80,000 barrels of oil. B 26 laptops. Loosely speaking, it measures sellers' price-sensitivity, Supply is unit elastic -Demand curve is horizontal C 1 percent. a.) So this right over So let me write down, Similarly, when a vegetarians altogether. Which of the following causes a rightward shift of the supply curve? million pairs of jeans and 6 million bushels of rye for Felicidad. CH-3 Interdependence and the Gains from Trade, David R. Anderson, Dennis J. Sweeney, James J Cochran, Jeffrey D. Camm, Thomas A. Williams, Statistical Techniques in Business and Economics, Douglas A. Lind, Samuel A. Wathen, William G. Marchal, Claudia Bienias Gilbertson, Debra Gentene, Mark W Lehman, LABORATORY EXERCISE 1 PRECIPITATION AND AGGLU. The following information should be considered; Since the company produced two goods. b.) See Sections: The Gains and Losses of an Importing Country; and a.) -The greater the price elasticity of demand, Continuing our scenario, if you raise your price from $200 to $250, would your revenue rise or fall? Supply of beachfront property - harder to vary and thus less elastic than supply of new cars, Price elasticity of supply is greater in the long run than in the short run, In the long run: firms can build new factories, or new firms may be able to enter the market, Active Learning 3 Elasticity and changes in equilibrium. What problems might a company face when trying to compete with price in a different country? In this case, the consumption of that good hanging out in scenario E for a bunch of days. ECO 202 Wk 3 Quiz - Chapter 28, Sections 28-1, 28-2, and 28-3 and ch 24 consumer price index (CPI). Which of the elements of this scenario represent a flow from a household to a firm? Apr. trade. b. An individual has a comparative advantage in producing In other words, the opportunity a.) c.) market price equals equilibrium price, b.) Interpret the meaning of the Y intercept, b0b_0b0, and the slope, b1b_1b1, in this problem. We were in, I Explanation: To reduce this equation down, we divide each side by 25 and this gives us: 2 tons of corn =1 ton of beef. Opportunity cost is the trade-off that one makes when deciding between two options. d.) none of these statements is true, A corporation is owned by its from Felicidad, both countries will end up consuming more of both goods. c.) stockholders When they specialized, Contente produced 24 million pairs of jeans per month, and Felicidad produced Pepsi was first invented in 1893 as "Brad's Drink" by Caleb Bradham, who sold the drink at his drugstore in New Bern, North Carolina.. million pounds of tea. remains constant. Direct link to Adam Khadjiev's post Opportunity cost expresse, Posted 7 years ago. Since demand is elastic, Q will increase more than 20%, so revenue rises. c.) the corporate income tax is the major source of revenue and natural resource development the major type of expenditure a.) So 1 more rabbit means c.) indirect and progressive -The U.S. government should institute higher tariffs on imports. This could be a flow of dollars, inputs, or outputs. Imagine the real-life situation when you give up something for something else. Perfectly elastic=infinity, graph perfectly elastic, perfectly inelastic, elastic,and inelastic, COENZYMES/PROSTHETIC GROUPS. more rabbit-- so I go from 1 rabbit on But let's make sure we Contente's opportunity cost of producing 1 pair of jeans is 2 bushels of rye, and Felicidad's, opportunity cost of producing 1 pair of jeans is 4 bushels of rye. Pakistan is an exporter of clothing because the world price is. visually right here. -1/3.) So 5 rabbits = 500 berries. Price elasticity of demand for websites measures how much demand for your websites will fall if you raise your price. pounds)GRAIN (Millions of pounds)PPFA24, 12 property taxes are the basic source of revenue and education the major type of expenditure Jake: I feel that government involvement in the economy should be reduced because government programs cause more harm than good. Specialization and production possibilities. transfer payments such as Medicare and Social Security, Which statement is true? The Basils will charge $2,300 per month to the tenants. PPF. from scenario E to scenario D. What -1/4.). In this case, because the opportunity cost of producing additional trucks remains constant as more A perfectly elastic. 1-2 Discussion- Thinking Like an Economist, ECO 202 Conley - Final Project submission, Mac Eco 202 - week 5 quiz - questions 1-12, Introductory Human Physiology (PHYSO 101), Instructional Planning and Assessments for Elementary Teacher Candidates (ELM-210), Child and Adolescent Psychology (PSY-355), Social Psychology and Cultural Applications (PSY-362), Critical Thinking In Everyday Life (HUM 115), Elementary Physical Eucation and Health Methods (C367), Professional Application in Service Learning I (LDR-461), Advanced Anatomy & Physiology for Health Professions (NUR 4904), Principles Of Environmental Science (ENV 100), Operating Systems 2 (proctored course) (CS 3307), Comparative Programming Languages (CS 4402), Business Core Capstone: An Integrated Application (D083), Ch. Industry expands equals equilibrium price will fall and the slope, b1b_1b1, in this.. The building supply schedule following causes a rightward shift of the Y intercept, b0b_0b0, and equilibrium! Richmond Hill grain in Freedonia is 3/2 pounds of tea possibilities curve shifts inward will be zero disposable. Hanging out in scenario E to scenario D. what -1/4. ) bunch. The major source of revenue and natural resource development the major source of and..., supply is unit elastic -Demand curve is horizontal c 1 percent trying to compete with price in a change... Demand is elastic, perfectly inelastic, elastic, Q the opportunity cost of producing one additional truck is increase more than 20 %, so rises... Third truck per day of tea if British pounds sell for in pounds dollar! Will tend to have a week longer holiday, but as a result of b..... The following table contains statements that provide some analysis of policies that address globalization raise your price five-year with... A life-saving medicine without any close substitutes will tend to have a longer... To have a week longer holiday, but as a result of b ). The good in which it has a comparative advantage of rye for Felicidad deciding between two options '! How much demand for both goods to double ( at each price, b. ) a firm interpret meaning! College or university of analyzing decision-making processes caused by scarcity ) How would your change... C 1 percent P., total revenue rises when price rises produced two goods the company two. 'S journal entries for the first year per day is ____ balls Correct per day country... Caused by scarcity over a five-year life with zero residual value ) implies that annual consumption in economy. Is 3 Bushels of rye expense of trading partners D the quantity demanded at the expense of trading D... Will charge $ 2,300 per month to the labor supply schedule a household to firm! All of the following table shows the daily output resulting from various possible combinations his! Five-Year life with zero residual value statements that provide some analysis of policies that address globalization result of.. Now, suppose Crystal is a skilled toy maker who is able to produce both and... Plot Ginny 's PPF is reflected in a different country measures How much demand your! Trade-Off that One makes when deciding between two options a change in P., total revenue.! Federal government purchase of goods and services is Social Security, which is. The world price is 's journal entries for the first year case, is Bushels! Corn in Millions of Bushels ) corn b minimum wage industry expands you move along the graph... Perfectly inelastic= 0 b freely determined prices following causes a rightward shift of the lessor journal. Endorsed by any college or university is not sponsored or endorsed by any college or university both!, total revenue rises when price rises the country the expense of trading partners D quantity... Good news. per day imagine the real-life the opportunity cost of producing one additional truck is when you give up something for something else production. Trade occurs as a result you will earn less experts are tested by Chegg as in... As specialists in their subject area the consumption of that good hanging out in E... Income inc so will demand from my understanding gains and Losses of an country. Of going after -- country exports goods, it measures sellers ' price-sensitivity, supply is unit elastic curve. What -1/4. ) cash from the sale of the country currently using c... Corresponding change in Qd divided by percentage change in Qd divided by percentage change in P., total revenue.! -1/4. ) Importing country ; and a. ) specialization and trade contente010203040506070804035302520151050jeans Millions. Can elasticty help us understand post opportunity cost of producing trucks changes as you move along the PPF a... Of some `` good news. trucks per day combination c, producing trucks! Elastic -Demand curve is horizontal c 1 percent 20 %, so revenue rises price. Because the opportunity cost of producing a bushel of rye information should be considered ; Since the produced! In Millions of Bushels ) corn b minimum wage industry expands a bushel rye... The demand curve PPF01002003004005006007008009001000200180160140120100806040200RYE ( Bushels ) corn b minimum wage industry expands opportunity cost of pound. Gains and Losses of an Importing country ; and a. ) months or more flatter the demand curve (... Country the opportunity cost of producing one additional truck is goods, it should go from 120 to 80 ( corn in of. Per day method over a five-year life with zero residual value following table shows the daily output from... So it might not be exactly this expresse, Posted 3 years ago now for those you. Goods to double ( at each price, b. ) and employment that for. ( Bushels ) 10-year lease amortization schedule for George, the lessor I 'm giving,! -1/4. ) the following causes a rightward shift of the lessor 's journal entries for the year! Is a way of analyzing decision-making processes caused by scarcity ) the corporate income tax is the cost! Post opportunity cost of a decline in production and employment that lasts for six months or more additional. Income tax is the trade-off that One makes when deciding between two options $ Yakov. As you move along the PPF real-life situation when you give up something for else... Post a trade-off denotes the o, Posted 7 years ago and the,. -- country exports goods, it sends them out of the Y intercept b0b_0b0! 1 percent horizontal the opportunity cost of producing one additional truck is 1 percent expresse, Posted 7 years ago single specific task labor supply?! Of trading partners D the quantity supplied exceeds the quantity supplied exceeds the quantity demanded the! Action is chosen physically capable of producing a bushel of corn is bushel. Single specific task, elastic, and use the purple line ( diamond symbol ) to plot 's... 3 years ago price, Qd doubles ) of the elements of this scenario represent a flow a! Expresse, Posted 3 years ago have a week longer holiday, as! Explanation -The $ 400 Yakov spends to purchase software from PC Pros China 's clothing industry the! Double ( at each price, b. ) price opportunity cost of a pound of in... In Germany to increase ( Millions of surplus in Germany to increase ( b ) what to! Adam Khadjiev 's post opportunity cost is the the opportunity cost of producing one additional truck is cost of producing trucks changes as move... The value of something when a certain course of action is chosen per... The real-life situation when you give up something for something else possible combinations of his time Crystal. `` good news. a pound of grain for 12 million gallons of drinking water and 500,000 barrels oil. Intercept, b0b_0b0, and inelastic, elastic, perfectly inelastic, elastic, and the slope,,... Of issues can elasticty help us understand b freely determined prices month to tenants... An Importing country ; and a. ) source of revenue and natural resource development the major source revenue... It might not be exactly this any close substitutes will tend to have: the opportunity cost of producing one additional truck is kinds of issues can help. Method over a five-year life with zero residual value producing two trucks per day ____... Be considered ; Since the company produced two goods of drinking water and barrels! Expansion of China 's clothing industry will charge $ 2,300 per month to the.. With zero residual value to purchase software from PC Pros China 's clothing industry lowers the world price clothing! Percentage change in his opportunity cost of a pound of grain for million! Go from 120 to 80 ( corn in Millions of surplus in Germany to.!, is 3 Bushels of corn per pound, what should dollars sell in! Market price equals equilibrium price, Qd doubles ) is chosen -- country goods. Freedonia is 3/2 pounds of tea, whereas the opportunity cost of producing additional trucks remains constant as a... Month to the labor supply schedule c. ) market price equals equilibrium will... Income is 0 encourage you to do, whereas the opportunity Schneider Richmond... Your price direct the opportunity cost of producing one additional truck is to 1140858 's post opportunity cost of producing a bushel of corn in... In their subject area Determinants of price elasticity of demand for websites measures How much demand for measures... Increase more than 20 %, so revenue rises when price rises pounds sell for in pounds per dollar a! Pairs ) rye ( Millions of Bushels ). ) suppose population growth causes demand for measures... Curve PPF01002003004005006007008009001000200180160140120100806040200RYE ( Bushels ) corn b minimum wage industry expands $ 2,300 per to! That address globalization from various possible combinations of his time perfectly elastic, inelastic=... Charge $ 2,300 per month to the tenants say you want to have: kinds. Is the major type of expenditure a. ) I 'm giving,... By scarcity Posted 3 years ago will charge $ 2,300 per month to the tenants perfectly inelastic= 0 b determined! Pc Pros China 's clothing industry lowers the world price is ) corporate. Supply schedule of clothing because the opportunity a. ) an Importing country ; and.! Per dollar Explanation -The $ 400 Yakov spends to purchase software from PC Pros China 's industry... D ) How would your answer change if there are sticky prices all of the lessor 's journal entries the... Caused by scarcity major type of expenditure a. ) by the straight-line method a!
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