Suppose Lucia earns $775 per week working as a doctor for the Medical Clinic. She uses $8 to order a mojito cocktail at Little Havana. Little Havana pays Kenji $475 per week to wait tables. Kenji uses $250 to purchase medical services from the Medical Clinic.
Identify whether each of the following events in this scenario occurs in the resource market or the product market.
a. Hubert spends $175 to purchase medical services from the Medical Clinic
b. Hubert earns $550 per week working for Little Havan
c. Kate spends $9 to order a mojito cocktail

Suppose that the world price of steel is $100 a ton, india does not trade internationally, and the equilibrium price of steel in india is $60 a ton. suppose that india now begins to trade internationally. the price of steel in india the quantity of steel produced in india a. does not change; does not change b. falls; increases c. falls; decreases d. rises; decreases e. rises; increases the quantity of steel bought by india india steel. a. increases; exports b. decreases; imports c. decreases; exports d. does not change; neither imports nor exports e. increases; imports

Acompany using the perpetual inventory system purchased inventory worth $540,000 on account with credit terms of 2/15, n/45. defective inventory of $40,000 was returned 2 days later, and the accounts were appropriately adjusted. if the company paid the invoice 20 days later, the journal entry to record the payment would be

If a team of three workers, each making the u. s. federal minimum wage, produced these 12 rugs, what would the total labor cost be? don't forget that these workers would be working overtime.