Assume tony's marginal rate of substitution (mrs) of x for y is 12 -that is, mux muy 12 -the price of x is $39, and the price of y is $3. tony is spending too much of his income on y. do you agree or disagree? ○ a. o b. o c. o d. disagree. the mu per dollar spent on x is less than the mu per dollar spent on y. he should substitute y for x to increase utility. disagree. the mu per dollar spent on x is greater than the mu per dollar spent on y. he should substitute yfor x to increase utility. agree. the mu per dollar spent on y is greater than the mu per dollar spent on x. he should substitute x for y to increase utility. agree. the mu per dollar spent on xis greater than the mu per dollar spent on y. he should substitute x for y to increase utility.

Which of the following correctly describes the accounting for indirect labor costs? indirect labor costs are product costs and are expensed as incurred. indirect labor costs are period costs and are expensed when the manufactured product is sold. indirect labor costs are period costs and are expensed as incurred. indirect labor costs are product costs and are expensed when the manufactured product is sold.

You are an employee of an u.s. firm that produces personal computers in thailand and then exports them to the united states and other countries for sale. the personal computers were originally produced in thailand to take advantage of relatively low labor costs and a skilled workforce. other possible locations considered at that time were malaysia and hong kong. the u.s. government decides to impose punitive 100% ad valorem tariffs on imports of computers from thailand to punish the country for administrative trade barriers that restrict u.s. exports to thailand. how do you think your firm should respond? what does this tell you about the use of targeted trade barriers?

For each separate case below, follow the 3-step process for adjusting the prepaid asset account at december 31. step 1: determine what the current account balance equals. step 2: determine what the current account balance should equal. step 3: record the december 31 adjusting entry to get from step 1 to step 2. assume no other adjusting entries are made during the year. a. prepaid insurance. the prepaid insurance account has a $4,700 debit balance to start the year. a re- view of insurance policies and payments shows that $900 of unexpired insurance remains at year-end. b. prepaid insurance. the prepaid insurance account has a $5,890 debit balance at the start of the year. a review of insurance policies and payments shows $1,040 of insurance has expired by year-end. c.prepaidrent.onseptember1ofthecurrentyear,thecompanyprepaid$24,000 for 2 years of rentfor facilities being occupied that day. the company debited prepaid rent and credited cash for $24,000.