Gains from trade arise because of: specialization in consumption. marginal analysis. individual choice. specialization in production. 10. if equilibrium exists: there will be no remaining opportunities for individuals to make themselves better off. the price in that market will not fluctuate by more than 5%. all individuals must have an equal amount of income. the number of buyers will equal the number of sellers. 11. economists believe that resources should be used as efficiently as possible to: reduce inequity. maximize profits. achieve society's goals. eliminate scarcity. 12. in most cases, economic efficiency is achieved through: incentives built into a market economy. maximizing equity. reducing regulation. individuals seeking out opportunities that involve no risk.

On february 3, smart company sold merchandise in the amount of $5,800 to truman company, with credit terms of 2/10, n/30. the cost of the items sold is $4,000. smart uses the perpetual inventory system and the gross method. truman pays the invoice on february 8, and takes the appropriate discount. the journal entry that smart makes on february 8 is:

Problem 2-18 job-order costing for a service company [lo2-1, lo2-2, lo2-3]speedy auto repairs uses a job-order costing system. the company's direct materials consist of replacement parts installed in customer vehicles, and its direct labor consists of the mechanics' hourly wages. speedy's overhead costs include various items, such as the shop manager's salary, depreciation of equipment, utilities, insurance, and magazine subscriptions and refreshments for the waiting room. the company applies all of its overhead costs to jobs based on direct labor-hours. at the beginning of the year, it made the following estimates: direct labor-hours required to support estimated output 10,000fixed overhead cost $ 90,000variable overhead cost per direct labor-hour $ 1.00 required: 1. compute the predetermined overhead rate.2. during the year, mr. wilkes brought in his vehicle to replace his brakes, spark plugs, and tires. the following information was available with respect to his job: direct materials $ 600direct labor cost $ 180direct labor-hours used 2 compute mr. wilkes' total job cost. 3. if speedy establishes its selling prices using a markup percentage of 30% of its total job cost, then how much would it have charged mr. wilkes?

Why should you not sign the tenant landlord agreement quickly and immediately