The following table illustrates what can be produced in 1 da…
The following table illustrates what can be produced in 1 day with the same stock of resources in France and Germany. Use the information to answer the following questions. cheese beef France 34 40 Germany 56 20 Based on the information in the table, __________ has the comparative advantage and absolute advantage in cheese and __________ has the comparative advantage and absolute advantage in beef.
Read DetailsThe Henry, Isaac, and Jacobs partnership was about to enter…
The Henry, Isaac, and Jacobs partnership was about to enter liquidation with the following account balances: Cash $ 90,000 Liabilities $ 60,000 Noncash assets 300,000 Henry,capital 80,000 Isaac, capital 110,000 Jacobs, capital 140,000 Total $ 390,000 Total $ 390,000 Estimated expenses of liquidation were $5,000. Henry, Isaac, and Jacobs shared profits and losses in a ratio of 2:4:4.Before liquidating any assets, the partners determined the amount of cash for safe payments and distributed it. The noncash assets were then sold for $120,000. The liquidation expenses of $5,000 were paid prior to the sale of noncash assets. How would the $120,000 be distributed to the partners? (Hint: Either a predistribution plan or a statement of liquidation would be appropriate for solving this item.) Henry Isaac Jacobs A) $ 33,000 $ 36,000 $ 51,000 B) $ 28,000 $ 36,000 $ 56,000 C) $ 29,333 $ 32,000 $ 58,667 D) $ 24,000 $ 48,000 $ 48,000 E) $ 38,000 $ 26,000 $ 56,000 A) Option A. B) Option B. C) Option C. D) Option D. E) Option E.
Read DetailsThe following table illustrates what can be produced in 1 da…
The following table illustrates what can be produced in 1 day with the same stock of resources in France and Germany. Use the information to answer the following questions. cheese beef France 34 40 Germany 56 20 When we assign tasks based on comparative advantage, the economic pie will contain:
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