A company bought new heating system for $48,000 and was given a trade-in of $4,500 on an old heating system, so the company paid $43,500 cash with the trade-in. The old system had an original cost of $42,600 and accumulated depreciation of $36,700. If the transaction has commercial substance, the company should record the new heating system at:

Within the relevant range, if there is a change in the level of the cost driver, then a. total fixed costs will remain the same and total variable costs will change b. total fixed costs will change and total variable costs will remain the same c. total fixed costs and total variable costs will change d. total fixed costs and total variable costs will remain the same

Which of the following best explains how trade enables greater specialization among producers? a. trade diversifies the market by bringing specialized goods from around the world. b. trade requires distribution networks and adds one more step to the production process. c. trade enables producers to open up new markets for their goods and services. d. trade allows people to focus on one kind of production and trade for their other needs.

Which of the following is considered part of a country’s infrastructure?