Economics
Question:

Macroeconomics
Question:
1.9 Alfred Chandler, who was a professor at the Harvard Business School, once observed: “Imagine the diseconomies of scale—the great increase in unit costs—that would result from placing close to one-fourth of the world’s production of shoes, or textiles, or lumber into three factories or mills!” The shoe, textile, and lumber industries are very competitive, with many firms producing each of these products. Briefly explain how Chandler’s observation helps explain why these industries are competitive.

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Macroeconomics
Question:
Behavioural economists examine the choices that consumers make that are not economically rational. Economists generally assume that people are rational, that is, that they weigh the benefits and costs of an action and choose an action only if the benefits outweigh the costs. Why do consumers not act rationally when the result is that they make themselves worse off?

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Economics
Question:
Marsh Co. at the end of 2011, its first year of operations, prepared a reconciliation between pretax financial income and taxable income as follows:    Pretax financial income $900,000    Estimated litigation expense $1,200,000    Extra depreciation for taxes     ($1,800,000)    Taxable income   $300,000 The estimated litigation expense of $1,200,000 will be deductible in 2012 when it is expected to be paid. Use of the depreciable assets will result in taxable amounts of $600,000 in each of the next three years. The income tax rate is 30% for all years. Income tax payable is a. $0 b. $90,000 c. $180,000 d. $275,000 The deferred income tax to be recognized is CURRENT. NONCURRENT a. $180,000 asset. $200,000 payable b. $360,000 payable. $540,000 asseet c. $360,000 asset. $540,000 payable d. $0 asset. $190,000 payable PLEASE SHOW ALL CALCULATIONS. THANK YOU.

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