In response to a shortage caused by the imposition of a binding price ceiling on a market,
a. price will no longer be the mechanism that rations scarce resources.
b. long lines of buyers may develop.
c. sellers could ration the good or service according to their own personal biases.
A binding price ceiling is when the government or an agency of the government sets the maximum price of a good or service below the equilibrium price.
When price of a good is set below the equilibrium price of the good, the producer surplus would decreases and the consumer surplus would increase. This would lead to an excess of demand over supply. As a result, a shortage would occur. As a result of the shortage, black markets would occur.
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Why do internal economies of scale lead to imperfectly competitive​ industries? A. Patent laws prevent firms from entering the market. B. Large firms have cost advantages over small firms. C. This is an observation based on measurable data. D. There are barriers to entry due to large fixed costs.
Internal economies of scale lead to imperfectly competitive industries because large firms have cost advantages over small firms, so the correct answer is B.
Economy of scale is the economic advantage that is realized by operating on a larger scale. In general, the average cost per unit of output decreases with increasing scale because fixed costs are spread over more units of output. Operational efficiency is also often greater with increasing scale, which in turn leads to lower variable costs.
When an industry is characterized by economies of scale, it can lead to a monopoly or oligopoly. Only large companies can then produce economically, which means that the barriers to entry for new market players are high.
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rhodes borrowed $5,000 by signing a 5-year note with an interest rate of 8%. on the date the note is signed, rhodes should
On the date the note is signed, rhodes should credit Note payable for $5,000.
Note payable is a loan agreement that is put down in written were the borrower agreed to pay the lender the certain amount he or she borrowed from the lender and must be signed by the borrower.
In Note payable the borrower as well will have to pay interest on the amount borrowed or the interest accrued on the amount borrowed on the due date.
The journal entry on the date the note is signed is:
Debit Cash $5,000
Credit Note payable $5,000
(To record note payable)
Inconclusion on the date the note is signed, rhodes should credit Note payable for $5,000.
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A firm has an average total cost of $50. If it sells 20 units of its product at $100 each, what is its profit?
Answer:
$1,950
Explanation:
If I understood what you're asking, I did 100 times 20 and then subtracted 50 from that
100x20 = 2000
2000-50 = 1950
Which of the following businesses describes a branch?
A. CarCity is a car dealership that is old by a large company but operated by a group.
B. Easy as Fries, a fast-food restaurant, is operated by one person but still owned by a large company.
C. Photo Finish, a sports photography business, has many locations that are owned an operated by the company.
D. Hit the books, a Tutoring business, has one location in San Diego, California
Photo Finish, a sports photography business, has many locations that are owned an operated by the company is the businesses describes a branch. Hence, option C is correct.
What is meant by photography business?A variety of services are offered by professional photography studios, including portraiture, commercial photography, event photography including weddings, family gatherings, bar mitzvahs, and more, convention photography, and more.
Their creativity, which is the art or process of making images by the influence of radiant energy, particularly light, on a sensitive surface, is expressed through shades, tones, smiles, joy, and even sadness.
To start, you can increase brand awareness by including brand-specific colors in your images. Additionally, your image might inspire bto take action. Good pictures elicit an emotion. Within that attitude, an emotion develops, which inspires potential customers to become clients.
Thus, option C is correct.
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#SPJ2
Write down the steps of the marketing research approach in the correct order.
Answer:
Explanation:
The Marketing Research Process is comprised of 6 steps: 1: Problem Definition, 2: Development of an Approach to the Problem, 3: Research Design Formulation, 4: Field Work or Data Collection, 5: Data Preparation and Analysis, 6: Report Preparation and Presentation.
What tab do I use to get to the table of contents on a word document?
in which step of the price setting process would a new-product manager decide whether to adopt a penetration or a skimming pricing strategy for a new product she is about to introduce to the market?
3. What are three purchasing activities in businesses?
Presented below is information related to Ricky Henderson Company.
Cost Retail
Beginning inventory $ 200,000 $ 280,000
Purchases 1,375,000 2,140,000
Markups 95,000
Markup cancellations 15,000
Markdowns 35,000
Markdown cancellations 5,000
Sales revenue 2,200,000
Compute the inventory by the conventional retail inventory method. (Round ratios for computational purposes to 0 decimal places, e.g. 78% and final answer to 0 decimal places, e.g. 28,987.)
Ending inventory using conventional retail inventory method
$Presented below is information related to Ricky He
The ending inventory using conventional retail inventory method is $170,100.
Ricky Henderson Company Ending inventory
Cost Retail
Beginning inventory $200,000 $280,000
Add Purchases $1,375,000 $2,140,000
Total $1,575,000 $2,420,000
Markups $95,000
Markup cancellations ($15,000)
Net markup $80,000
($95,000-$15,000)
Total $1,575,000 $2,500,000
($2,420,000+$80,000=$2,500,000)
Markdowns $35,000
Markdown cancellations ($5,000)
Net markdown ($30,000)
($35,000-$5,000)
Sales price of goods available $2,470,000
($2,500,000-$30,000)
Less Sales revenue ($2,200,000)
Ending inventory at retail $270,000
($2,470,000-$2,200,000)
Second step is to calculate the Cost-to-retail ratio using this formula
Cost-to-retail ratio=Cost of goods sold available/Retail price of goods available+ Net markup
Let plug in the formula
Cost-to-retail ratio=$1,575,000/($2,420,000+$80,000)
Cost-to-retail ratio=$1,575,000/$2,500,000
Cost-to-retail ratio=0.63
Third step is to calculate the ending inventory at cost (lower of cost or market) using this formula
Ending Inventory at cost =Cost-to-retail ratio× Ending inventory at retail
Let plug in the formula
Ending Inventory at cost=0.63×$270,000
Ending Inventory at cost =$170,100
Inconclusion the ending inventory using conventional retail inventory method is $170,100.
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what is a primary difference between a note receivable and an account receivable?
Answer:
Note receivable is a written promise by a supplier agreeing to pay a sum of money in the future.
While
Account receivable is the funds owed by the customers.
in cochabamba, bolivia, the informal economy is a small but important sector of the overall economy.
It is False that in Cochabamba, Bolivia, the informal economy is a small but important sector of the overall economy.
This is because the informal economy in Cochabamba is widespread in the street.
However, because they don't pay taxes or report earnings, it is hard to conclude that it is an important sector of the overall economy.
Also, since the statistics of the informal economy of Cochabamba do not reflect on the Bolivia general economy, the statement is considered False,
Hence, in this case, it is concluded that the correct answer is False.
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not successful way to budgeting strategy
on may 1, there were 4 inventory items that cost $30 each. on may 5, 2 items were purchased for $35 each. given one item from the beginning inventory and one from the may 5 inventory were sold, under the inventory method, cost of goods sold would equal $75.
Based on the specific identification inventory method, the cost of goods sold would equal $65 ($30 + $35) and not $75 as indicated in the question.
Specific identification is an inventory costing method that tracks the cost of goods to the exact items that are sold. This method is used where it is possible to track sold items individually, especially when the sold items are separately identifiable.
Specific identification is just one method in inventory costing. Others are Last-in, First-out (LIFO), First-in, First-out (FIFO), and Weighted-Average Cost Methods.
Thus, the inventory method that will produce the cost of goods sold under this scenario is the specific identification method.
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molen inc. has an outstanding issue of perpetual preferred stock with an annual dividend of $4.00 per share. if the required return on this preferred stock is 6.5%, then at what price should the stock sell?
The price at which the stock should sell is $61.54.
Using this formula
Stock selling price=Preferred stock annual dividend/Preferred stock required return
Where:
Preferred stock annual dividend=$4.00 per share
Preferred stock required return=6.5% or 0.065
Let plug in the formula
Stock selling price=$4.00/0.065
Stock selling price=$61.538
Stock selling price=$61.54 (Approximately)
Inconclusion the price at which the stock should sell is $61.54.
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Answer:
$61.54.
Hope this helps! good luck :)
the historical cost principle requires that when assets are acquired, they be recorded at
The historical cost principle requires that when assets are acquired, they be recorded at cost.
The historical cost principle is an accounting principle under the US GAAP. It entails recording the cost of an asset on the balance sheet at the cost with which the asset was purchased regardless of the changes in the value of the asset.
For example, if a machine was purchased at a cost of £2000. If the historical cost principle is used, the machine would be recorded at £2000 on the balance sheet.
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A corporation has issued $100 par, 8% cumulative convertible preferred stock, callable at par. The preferred is convertible into 1.4 shares of common stock. Currently, the preferred stock is trading at $102 while the common stock is trading at $75.50. The corporation calls the preferred stock at par plus accrued dividends of $2 per share. If a customer buys 100 preferred shares, converts, and then sells the common stock in the market, the profit is (ignoring commissions):_________
a. tender offer
b. forced conversion
c. advance refunding
d. simultaneous transaction
a. The profit the investor made when he sold the common stock shares in the market is $370.
b. The investor sold the 140 common stock shares through a. tender offer.
A tender offer is made when the investor is approached by another investor in the open market to buy the 140 common stock shares. In this instance, the shares are sold at the prevailing market price.
Data and Calculations:
Par value of cumulative convertible preferred stock = $100
Dividend rate per year = 8%
Current price of preferred stock = $102
Number of shares of preferred stock bought = 100
Total cost of purchase = $10,200 (100 x $102)
Sales price of common stock = $75.50
Number of common stock shares converted = 140 (100 x 1.4)
Sales proceeds from sale of common stock = $10,570 ($75.50 x 140)
Profit made by investor = $370 ($10,570 - $10,200)
Thus, the sale of the common stock shares was not by forced conversion, advance refunding, simultaneous transaction, but by a tender offer.
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The account debited when payment is made for equipment purchased previously on account is
A accounts receivable.
O
B. cash.
C. accounts payable.
D. equipment
Answer: It is A. Accounts Receivable.
what is the relation between Average Revenue and Marginal revenue??
Answer:
hi Kavya di how are you fine or not what are you doing
Explanation:
And in advance Happy Morning and happy chhath Puja
Hosts can handle 20 parties per hour, servers can handle 10 parties per hour, cooks can cook for 15 parties per hour. You have 1 host, 2 servers, and 1 cook. You expect 20 parties per hour. Which position is most likely to be overworked?
Answer:
Cook
Explanation:
Name at least 4 management skills which you think you already have. Justify your answer and identify ways on how you could further develop your chosen management skills.
Answer:
Hello there,
I'll answer based on myself,
The management skills I think I have are;
Planning, To achieve my goals, planning is an essential skill that I must have. Short term and long term goals need planning to be achieved and the short term goals like assignment completion and helping with chores at home must be done within a scope of at most a week and not more. And long term goals are ongoing and the fast they can be achieved within a year is more favourable. By continuous planning I gain more experience when my plans don't give. I usually ask my parents, teachers and experts on my plans to further better them. Decision making; With decision making, planning is much easier because I get to choose the best choice out of many layouts of plans I have. Deciding on my priorities is best way to figure out the best plans. This is usually based on past experience to make it better and ask help from parents and teachers. Delegation; This is most evident in my duties at school as a leader and assigning work in projects. It's not that some duties can't be performed by me but delegation is superb when a single person can concentrate on allocated tasks in full efficiency. It allows fast error checking and less slacking. I continue to learn this through projects given at school, getting help from parents and older siblings. Communication; I believe the best system works in a clear back to back communication. Good thing the environment am in allows thorough communication. And as a leader, youth, student and a responsible community member communication has been a great tool to make known our strengths and weaknesses. My parents, teachers have cultivated an environment that allows clear channels of communication.because it is hard to fire employees, ________ is widely held as one of the most important hr practices to do well.
Answer:
pandemic
internet
social media
letter
give bonus
give kiss hahha
Because it is hard to fire employees, selection is widely held as one of the most important hr practices to do well.
Selection is very important when it comes to hiring a candidate as selection process help the human resource manager or hiring manager to pick the right candidate or suitable candidate for the job.
For a company or organization that was to succeed, choosing the right candidate is important as this enables the company to achieve their aims and objectives.
A right candidate is the person who has the best interest of the company at mind and who always put in his or her best in every tasks.
Selecting a wrong candidate can affect the company growth as the candidate may be someone who perform poorly or who is incompetent when it comes to tasks or duties assign to them and they may mostly have the interest of the company at mind
It is important that hiring managers select the right and the best candidate so as to avoid the stress of having to fire employees.
Inconclusion because it is hard to fire employees, selection is widely held as one of the most important hr practices to do well.
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How is a compressed work week different from a traditional work week?
You work one more day in a compressed work week.
You work forty hours in a compressed work week.
You work one less day in a compressed work week.
You work less than forty hours in a compressed work week.
Answer:
A compressed work allows the employee to work for 35-40hours workweeks in less than five workdays.
Which is an example of ethical investing?
A. Michael invests in a company because its financials are solid.
B. Liam puts money into a mutual fund that produces steady returns.
C. Erin invests in a company because of its commitment to the
environment.
D. Kaori sells her shares in a company because she needs the
canital
Answer:
C
Explanation:
C. Erin invests in a company because of its commitment to theenvironment.
based on normal market reaction, the market price of stock will:
Explanation:
the study of the characteristics of human populations such as size density age race gender and income is known as
what are five marketing strategies that retailers spend half of their annual budget on?
The five marketing strategies includes strategies on 5P's which includes Price, Product, Promotion, Place and People.
The retailers are basically people who sells goods in smaller quantity to the final consumer in the chain of distribution.
The five marketing strategies they spend half of their annual budget on includes on the following:
Price: The retailers ensures that prices of their product are reduced below cost price to persuade consumers to buy from them.Product: The retailers need to ensure that varieties of product are available in the stores to satisfy the consumers need.Promotion: Various advertisement and others strategy to persuade consumers needs funds to make successful.Place: The store and outlet need to be where is more favorable and comes with high cost of expenses for the retailers.People; The consumers are given discounts and other incentives to persuade them to come and buy more goods from the retailers.Learn more about this here
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Answer:Product, Price, Promotion, Place, and People
Explanation:
Suppose the price of crude oil used to produce gasoline rises significantly. At the same time, consumers purchase hybrid cars in great numbers. In the market for gasoline, the market clearing price ________ and the equilibrium quantity ________. definitely falls, is indeterminate is indeterminate, definitely falls definitely rises, is indeterminate definitely falls, definitely rises
is indeterminate, definitely falls
what is the term for a group of project activities that are assigned to a single organizational unit?
what is the minimum amount of money for which an sar should be filed?
Answer:
the answer is amount 20000
Explanation:
there isnt one cus its a direct question
Sue worked 48 hours this week. Her rate of pay is $13.75 per hour. What is her gross pay?
Answer:
The answer is $660 because you will multiply 48 and 13.75
Explanation:
48*13.75=660
the ____________________ is based on the prices of merchandise that are exported or imported.
The International price index is based on the prices of merchandise that are exported or imported.