Question 1

Study of choices made by those faced with scarcity

Opportunity Cost

Capital

Economics

O

Trade Off

Question 2

The introduction of an additional variable into a bivariate relationship to control for its effects is referred to

A mechanic is considering expanding his garage. After a strong year last year, the mechanic is able to finance the expansion from last year's profits. The expansion itself is expected to cost $11,000.

Although the practice of predatory pricing is a common claim in antitrust suits, some economists are skeptical of this argument because they believe A. the evidence of its practice is nearly impossible to collect. B.

On 1/1/X1, P acquired 80% of S for $800,000 when S's equity included $500,000 capital stock and $500,000 of Retained Earnings. During years X1 and X2 S earned $100,000 and $120,000, respectively. In both years, S paid $20,000 of dividends.

Wendell Company provided the following pertaining to its recent year of operation:• Common stock with a $10,000 par value was sold for $50,000 cash.• Cash dividends totaling $20,000 were declared, of which $15,000 were paid.

What would be some negative consequences to consumers if all manufacturers sold only B2C and eliminated wholesaler distributors who supply retail stores?

What information does a firm's income statement provide to the viewing public?

Pettit Company reports net income of $90,000 in 2019. However, ending inven - tory was understated $7,000.

Which industry, more than any other, brought the West into the global economy of capital, commodities, and labor?

During Year 1, its first year of operations, Galileo Company purchased two available-for-sale investments as follows: Security Shares Purchased Cost Hawking Inc. 750 $33,375 Pavlov Co.