Calculate the Percent Increase or Decrease for Each of the Following

question 44

Essay

Calculate the percent increase or decrease for each of the following financial statement items:
$\begin{array}{|l|r|r|}\hline &{2014} &{2013} \\\hline \text { Cash } & \$ 37,500 & \$ 30,000 \\\hline \text { Accounts receivable } & 63,000 & 52,500 \\\hline \text { Inventory } & 67,500 & 90,000 \\\hline \text { Accounts payable } & 35,100 & 27,000 \\\hline \text { Sales } & 187,500 & 150,000 \\\hline \text { Equipment } & 165,000 & 125,000 \\\hline\end{array}$

Recognize the role of sociobiology in explaining social behaviors and structures in animal populations.

Understand the concept and examples of cognitive schemas.

Identify the benefits and drawbacks of multitasking during adolescence.

Describe the three major processes involved in memory: encoding, storage, and retrieval.

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Definitions:

Most Efficient Output

The level of production at which a firm or economy can produce goods at the lowest average cost, maximizing the use of resources.

ATC Curve

The Average Total Cost Curve, which represents the average cost per unit of output over various levels of production, illustrating how costs change with output levels.

AVC Curve

The average variable cost curve, which plots the variable cost per unit of output at different levels of production.

Perfect Competitor's Firm

A company operating in a market where no single firm can influence price, and all firms sell identical products.