Assume a demand equation:

Upper Q Subscript d Baseline equals 9 minus 0.1 p minus p Subscript c Baseline plus 0.01 p Subscript s Baseline plus 0.0001 Upper YQd = 9 − 0.1p − pc + 0.01ps + 0.0001Y

and a supply equation:

Upper Q Subscript s Baseline equals 0.1 p minus 0.02 p Subscript i Baseline plus 0.01 Upper N plus 0.01 Upper T minus 0.1 wQs = 0.1p − 0.02pi + 0.01N + 0.01T − 0.1w

where

p = price of the good

Q = quantity in thousands of units

p Subscript c Baseline equalspc=price

of a complement = $3
p Subscript i Baseline equalspi=

price of an input = $450
p Subscript sps=

price of a substitute = $200
N = number of firms = 700

Y = consumer income =
$20 comma 00020,000

T = index of technology = 300

w = wage rate =
$1010

If the price is

$4545,

there will be an

excess demand

excess demand

excess supply

of

nothing

thousand units.

1tanner invested $135,000 cash along with office equipment valued at $32,400 in the company in exchange for common stock. 2 the company prepaid $7,200 cash for 12 months’ rent for office space. (hint: debit prepaid rent for $7,200.) 3 the company made credit purchases for $16,200 in office equipment and $3,240 in office supplies. payment is due within 10 days. 6 the company completed services for a client and immediately received $2,000 cash. 9 the company completed a $10,800 project for a client, who must pay within 30 days. 13 the company paid $19,440 cash to settle the account payable created on april 3. 19 the company paid $6,000 cash for the premium on a 12-month insurance policy. (hint: debit prepaid insurance for $6,000.) 22 the company received $8,640 cash as partial payment for the work completed on april 9. 25 the company completed work for another client for $2,640 on credit. 28 the company paid $6,200 cash in dividends. 29 the company purchased $1,080 of additional office supplies on credit. 30 the company paid $700 cash for this month’s utility bill. prepare general journal entries to record these transactions. 2. post the journal entries from part 1 to the ledger accounts.

Principals are an administration career

)a business incurs the following costs per unit: labor $125/unit, materials $45/unit, and rent $250,000/month. if the firm produces 1,000,000 units a month, calculate the following: a. total variable costs b. total fixed costs c. total costs