Intermediate Accounting 15th Edition - Solutions by Chapter

total revenue minus total explicit cost

variable cost divided by the quantity of output

the subfield of economics that integrates the insights of psychology

two goods for which an increase in the price of one leads to a decrease in the demand for the other

the property whereby long-run average total cost stays the same as the quantity of output changes

the reduction of risk achieved by replacing a single risk with a large number of smaller, unrelated risks

the theory that asset prices reflect all publicly available information about the value of an asset

the description of asset prices that rationally reflect all available information

a small incremental adjustment to a plan of action

the increase in the amount of output from an additional unit of labor

the amount that taxes increase from an additional dollar of income

the production of goods and services that an economy achieves in the long run when unemployment is at its normal rate

the percentage of the population whose family income falls below an absolute level called the poverty line

a person for whom another person, called the agent, is performing some act

a graph that shows the combinations of output that the economy can possibly produce given the available factors of production and the available production technology

total revenue minus total cost

a graph of the relationship between the price of a good and the quantity supplied

tax on goods produced abroad and sold domestically

the amount paid by buyers and received by sellers of a good, computed as the price of the good times the quantity sold

the price of a good that prevails in the world market for that good