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3 years ago

The _______ in lending act protects consumers against inaccurate and unfair practices from credit card companies and lenders.

2 answers:

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The contract in leading act protects consumers against in accurate and unfair practices from credit card companies and lenders

cestrela7 [59]3 years ago

6 0

The Truth In Lending Act (TILA) protects consumers against inaccurate and unfair practices from credit card companies and lenders. TILA equires lenders to provide you with loan cost information so that you can comparison shop for certain types of loan. This way TILA gives consumers clear and accurate info to compare interest rates and fees with competing lenders.

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5-7 Short Run versus Long Run A firm sells 1,000 units per week. It charges $70 per unit, the average variable costs are $25, an

irina1246 [14]

a. The firm should carry out the activities.

b.The firm should carry out activities until it is covering the cost.

c. The firm should shut down business activities when the price of the product goes below $25 in short-run.

d. The firm should shut down business activities when the price of the product goes below $65 in long-run.

Further Explanation:

Steps taken by the firm in the long run:

The sales price of the product is $70. The total average cost of the product is $65. The firm can cover all its costs (variable and fixed) and generating a profit of $5. So it should continue to carry out its business operations in the short run.

Steps taken by the firm in the long run:

In the long run, all the costs of the firm are variable. In the current case, the fixed cost is around 60% of the total cost. So the firm should attempt to decrease this cost. If the firm can decrease the total cost, it should carry out the business activities. The firm can continue to carry out the operational activities until it is making the profit and covering all the product cost.

The appropriate price for shutting down the business in the short-run:

The firm can shut down the business in the short-run when the price of the product is below $25.

In the short run, the firm can only control the variable cost. The firm can not control the fixed cost of the product. In the given case, the variable cost of the product is $25. Therefore, the firm should shut down the business when the price of the product goes below the variable cost ($25).

The appropriate price for shutting down the business in the long-run:

The firm can shut down the business in the long-run when the price of the product is below $65.

In the long run, the firm can influence all the costs of the business. It can influence the variable cost and the fixed cost of the business. Therefore, it should cover the total cost of the product. Thus, the firm should shut down the business when the price of the product goes below the total cost ($65).

Learn more:

1. Learn more about the variable costing

brainly.com/question/9203162

2. Learn more about the overhead expenses

brainly.com/question/4612804

3. Learn more about the cost of the product

brainly.com/question/1757741

Answer details:

Grade: Senior School

Subject: Economics

Chapter: Decision making (Short-run & Long-run)

Keywords: Short Run, Long Run, sells, units, week, charges, average variable costs, average costs, long run, Why, price, consider, shutting down the long run.

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3 years ago

Economics

nignag [31]

Answer:

it would be harder to get electricinans because it costs more

Explanation:

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3 years ago

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If your firm is operating in the negatively sloped portion of a long-run average total cost curve, then your production exhibits

Zolol [24]

Answer: C. Decreasing returns to scale

Explanation: Economic of scale refer to a situation where as the level of output increases, the average cost will decrease. In the case of constant return to scale here the average cost will not change as the output increases.

In this question the firm is operating in the negative sloped portion of the long-run average total cost curve, which shows that it has a "Decreasing returns to scale " .

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3 years ago

Earnest money is: Group of answer choices The value of your home used to calculate property taxes The estimated current value of

Dima020 [189]

Answer:

The amount of money the buyer deposits when they buy

Explanation:

Earnest money is the money a buyer pays to a seller which is usually like a deposit when they are purchasing a property to show how serious they are in purchasing the property.

When the seller gets the earnest money from the buyer, he is rest assured that the buyer is willing to purchase the property, so he gives him enough time to rally around to get the balance while he list the property off the sales market.

Without earnest money, most sellers are probably going to sell their properties to customer who brings money first.

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3 years ago

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The sense of dissatisfaction the modern worker feels as a result of producing goods that are owned and controlled by someone els

Mamont248 [21]

Answer:

alienation

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Marx argued that the development of the 'culture' and 'history' was the result of the 'human labor' and not vice-versa. He added that the alienation from oneself is the product of becoming a mechanistic part of society. An individual starts to become alienated when the social class dominates their life. He estranges the person away from their humanistic part.

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3 years ago