George enjoys drinking coffee everyday. The following utility function describes his preferences for daily coffee consumption: u(x) = min{5x,20}where x is the number of coffee drinks he has that day. Assume each drink costs 2. Which statement is incorrect?

(a) His reservation price for the first drink is 5.
(b) His reservation price for the fifth drink is 5.
(c) His willingness to pay for three drinks is 15.
`(d) Consumer surplus is equal to 12

Emily spent her summer vacation in buenos aires, argentina, where she got plastic surgery for a fraction of what it would cost in the united states. this is an example of:

As related to a company completing the purchase to pay process, is there an accounting journal entry "behind the scenes" when xyz company pays for the goods within 10 days of the invoice (gross method is used for discounts and terms are 2/10 net 30) that updates the general ledger?

Pear co.’s income statement for the year ended december 31, as prepared by pear’s controller, reported income before taxes of $125,000. the auditor questioned the following amounts that had been included in income before taxes: equity in earnings of cinn co. $ 40,000 dividends received from cinn 8,000 adjustments to profits of prior years for arithmetical errors in depreciation (35,000) pear owns 40% of cinn’s common stock, and no acquisition differentials are relevant. pear’s december 31 income statement should report income before taxes of