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STatiana [176]
3 years ago
6

Typically, the government limits the quantity of a good that can be bought and sold by: setting a price floor below the equilibr

ium price. setting a price ceiling above the equilibrium price. licensing the suppliers. maintaining the equilibrium price regardless of changes in demand and supply.
Business
1 answer:
natka813 [3]3 years ago
7 0

Answer:

Setting a price floor below the equilibrium price.

Explanation:

To begin with, it is essential to understand some key concepts:

1. Price floor - can be regarded as the least price that can be established for a category of products in the market.

2. Price Ceiling, on the other hand, can be regarded as the price cap to ensure price of a commodity does not rise above a certain level.

Essentially, price floor and price ceiling are two elements of price control.

Equilibrium price can be regarded as price at which quantity demanded equals quantity supplied.

Equilibrium price is thus the optimum and best combination of demand and supply that could give an optimum return. Any price short of the equilibrium price is often at the risk of the seller.

Thus, setting a price floor below the equilibrium price is tantamount to reducing the interest of the seller in selling such products. Ultimately, this reduces the amount of goods available in the market, while the demand will be enormous, owing to the lower price floor. The implication is that the quantity that can be bought or sold has been effectively curtailed by the government.

On the other hand, setting price ceiling above the equilibrium price would not achieve the objective of the government. This would only ensure the flooding of commodities in the market, effectively dwarfing the quantity demanded. This is away from the objective of the government as implied in this given question.

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6 0
3 years ago
Other variable costs per unit subtracted from total cogs per unit equals ________ per unit. contribution margin operating margin
Anastasy [175]

Other variable costs per unit subtracted from total COGS per unit equals contribution margin per unit.

Variable costs are expenses that vary in relation to production output or sales.

Variable costs play an important role in determining a product's contribution margin, which is used to calculate a company's break-even or target profit level.

Variable costs are a direct input in the calculation of contribution margin, which is the number of proceeds collected after deducting variable costs from sale proceeds.

Every dollar of contribution margin goes directly toward covering fixed costs; once all fixed costs are covered, every dollar of contribution margin goes toward profit.

As a result, variable costs are a necessary item for businesses attempting to determine their break-even point.

Hence, contribution margin per unit is the answer.

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6 0
1 year ago
A company can choose to use FIFO inventory costing methods for the financial statement and can elect to use either LIFO or FIFO
Oduvanchick [21]

Answer:

A. True.

Explanation:

Companies can and often do use different costing methods for financial reporting and tax reporting. The only exception is when LIFO is used for tax reporting; in this case the IRS requires that it also be used in financial statements.

LIFO assigns the highest amount to cost of goods sold - yielding the lowest gross profits and net income , which also yields a temporary tax advantage by postponing payment of some income tax.

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2 years ago
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Mashutka [201]

Answer:

I don't know this assignment but ask your teacher or get tutor.

4 0
3 years ago
A company acquired an office building on three acres of land for a lump-sum price of $2,450,000. The building was completely equ
galina1969 [7]

Answer:

$735,000

Explanation:

The fair values of the assets may be used as a basis for determining the amount to be recorded for each of the assets.

This will be in a proportional manner such that the higher the fair value, the higher the actual cost assigned and vice versa to the asset.

Hence the amount to be recorded for the building

= 840,000 / (840,000 + 840,000 + 1,120,000) * $2,450,000

= $735,000

7 0
2 years ago
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