Smith, West, and Krug form a partnership. Smith contributes $189,000, West contributes $157,500, and Krug contributes $283,500. Their partnership agreement calls for the income or loss division to be based on the ratio of capital invested. If the partnership reports income of $170,000 for its first year, what amount of income is credited to Krug's capital account

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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

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