If Jonah needs to use 4 portable fans for 3 months out of the year, and the electricity used in one fan costs 1 cent per hour and each fan is used for about 96 hours per month, the total electricity cost for the fans during one year is $11.52.
<span>Maximum prices in economics can be also known as Price Ceiling, where it is the legal maximum prices that producers can sell their good at. However, as this causes a market disequilibrium, ceteris paribus, there will exist a surplus of goods produced. This is due to the signalling and incentive effective on producers and consumers resulting in the increase of price (that has been set by the government).
Consumers would consume less of the product as it is more pricey than before, hence they are less willing and able to buy the product at the new price. Producers on the other hand sees more revenue to be earnt through higher prices and hence would devote their resources into producing that product. Hence the mismatch of supply and demand results in a surplus of products and would likely result in the government buying all the surplus out of interest for producers.</span>
Answer:
recognition phase
Explanation:
There are 5 phases in the consumer decision-making process:
- recognition: the customer realizes that he/she has an unsatisfied need or problem that must be satisfied or solved. In this case, Lucy realized that her car needs more oil and she has to purchase some.
- information search
- evaluations of alternatives
- purchase
- evaluation of decision
Answer:
ARP = 13.2184 %
Prepaid interest = $3,057.66
Explanation:
The ARP stands for annual percentage rate. It is defined as the amount of interest that one has to pay annually for the total mortgage loan he or she takes. In the question, the ARP will be 13.2184 % for a loan amount of $127,000 at the rate of 12.98% that will be amortized in 57 years with 0.13 points.
The prepaid interest is the interest amount the borrower pays for the loan he takes before the first scheduled of the debt repayment. In the question, the prepaid interest amount is $3,057.66 for the loan amount $524,000 to be amortized in 40 years with 0.58 points and at 5.33%.
Sole proprietorship is a business enterprise which is solely owned, managed and controlled by one person known as a sole proprietor or proprietress.
It is also the oldest and most commonest business entity found in <em>Africa</em>.
This is because, it requires only a little amount to start it.
Examples; Petty trading, Farming, Pure water production, Barbering etc.
Hope it helps.
