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3 years ago

Price controls can cause _ or _. efficiency, shortages shortages, surpluses equilibrium prices, surpluses

2 answers:

7 0

price control causes shortages and surpluses depending on whether it is the maximum or minimum price control. if it is maximum, there will be surpluses and if it is minimum, there will be shortages due to how much people can afford

Setler79 [48]3 years ago

7 0

Answer:

shortages/surpluses

Explanation:

In a competitive market economy, the price of products is determined through the interaction between supply and demand for the product. If the government decides to control prices, the competitive mechanisms that make up the price are abandoned. Thus supply and demand will depend on the price set by the government. If the price is high, supply should increase, but quantity demanded should decrease. This can cause an surpluses. There will be more products for sale than consumers to buy. Conversely, when the stipulated price is low, demand will be high, but supply will be low, as producers will not have an incentive to produce. In this case, product shortages may occur.There will be more demand for the product than supply. The only way to keep the market in equilibrium is to not intervene in prices, letting the competition rules prevail.

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All of the following are determinants of demand elasticity EXCEPT a. whether the purchase of the product can be delayed b. wheth

yKpoI14uk [10]

Answer:

The correct answer is option d. whether the product has utility.

Explanation:

The demand elasticity is a concept that explains the elasticity of the consumer in terms of buying a product while its price rises.

All of the factors given in the question are a part of this concept except whether the product has utility.

The reason is that when a consumer buys something, the utility of that desire is not measured. If people have a high demand elasticity, they would buy the most priciest of things which have no utility as such.

3 0

3 years ago

Suppose Capital One is advertising a 60-month, 5.89 % APR motorcycle loan. If you need to borrow $ 9 comma 400 to purchase your

xz_007 [3.2K]

Answer:

My Monthly payment will be $181.25

Explanation:

A loan provide funds for acquisition of asset and for investment purposes and its allows the arrangement for flexible repayments throughout the loan period based on terms agreed between the lender and borrower.

Following Formula used to calculate the installment payment.

Loan = Payment x $\frac{(1-(1+r)^-n)}{r}$

9,400 = Payments x $\frac{(1-(1+0.0589/12)^-60)}{0.0589/12}$

9,400 = Payment x 51.863

Payments = 9,400 / 51.863

Payments = 181.25

8 0

3 years ago

The Lead City factory makes car batteries. The factory opened in 2014, and by the end of the year, they had made 30,000 batterie

dmitriy555 [2]

Answer:

2017:

Total variable cost= $600,000

Total fixed cost= $1,900,000

2018:

Total variable cost= $800,000

Total fixed cost= $1,900,000

Explanation:

Giving the following information:

The factory opened in 2014, and by the end of the year, they had made 30,000 batteries for a total cost of $2,500,000. In 2015, they made 40,000 batteries for an additional cost of $200,000.

I will assume that the fixed costs remain constant in both years.

We can calculate the variable cost per unit using the incremental cost.

Variable cost per unit= incremental cost/incremental units

Variable cost per unit= 200,000/10,000= $20

Now, we can calculate the fixed costs:

2017:

Total variable cost= 30,000*20= $600,000

Total fixed cost= 2,500,000 - 600,000= $1,900,000

2018:

Total variable cost= 40,000*20= $800,000

Total fixed cost= $1,900,000

6 0

4 years ago

Opunui Corporation has two manufacturing departments--Molding and Finishing. The company used the following data at the beginnin

sukhopar [10]

Answer:

$58,850

Explanation:

Opunui Corporation

Molding Finishing Total

Estimated Total machine-hours (MHs) 6,500 3,700 10,200

Estimated Fixed manufacturing overhead cost $ 18,000 $ 5,500 $ 23,50

Estimated variable manufacturing overhead cost per MH $ 1.00 $ 2.00

Job A Job M

Direct materials $ 16,800 $ 10,600

Direct labor cost $ 23,700 $ 10,300

Molding Variable OH 2,500 8,000

Finishing Variable OH 2,500 2,000

Fixed Molding Expenses (2500/ 6,500)*18000

6923.076 11076.92

<u>Fixed Finishing Expenses 3716.216 (2000/3700)* 5,550= 2973</u>

<u>Total Costs 56,139.3 41,977</u>

6 0

3 years ago

With recent reports of identity theft, Mr. Adams, the CEO of a construction company, is concerned about his employees' privacy,

svetlana [45]

Answer:

Moral rights

Explanation:

The moral rights approach says that decisions must be consistent with fundamental rights and privileges, for example, freedom, life, health, privacy. These rights are embodied in the United Nations Declaration of Human Rights.

5 0

4 years ago

Price controls can cause _____ or _____. efficiency, shortages shortages, surpluses equilibrium prices, surpluses

Price controls can cause _ or _. efficiency, shortages shortages, surpluses equilibrium prices, surpluses