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3 years ago

A price ceiling is binding when it is set

Business

2 answers:

Zielflug [23.3K]3 years ago

8 0

B.below the equilibrium price, causing a surplus

zloy xaker [14]3 years ago

3 0

Answer:

below equilibrium price, causing a shortage.

Explanation:

In market economies, the equilibrium price of goods and services is determined through the interaction between supply and demand. The price ceiling is a form of competitive market intervention in which the government sets a maximum price below the equilibrium price. Thus, producers tend to decrease their supply for the product as the profit perspective decreases. As a result, product shortages may occur. For example, if the equilibrium price of the sack of corn is $ 20 if the government sets a price ceiling of $ 15, corn growers can only sell it for $ 15. As a result, corn production and supply tend to decrease.

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An agent is authorized to act on behalf of a principal in doing business with third parties. True False

bonufazy [111]

Answer:

The statement is: True.

Explanation:

In making business relationships, an agent acts as a third party that is legally authorized to establish businesses for one of the entities involved. The entity that uses the agent as an intermediary is called the principal. The agent must follow the principal's instructions avoiding to be biased by self-interest.

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3 years ago

According to your text, in the broadest terms, the "marketplace" refers to:_________

OLga [1]

Answer:

A. The World of trade

Explanation:

The marketplace is an economic system where companies compete with each other in order to sell their products. It is a place where trade occurs. In the broadest terms, a marketplace is the world of trade where buying of goods and services takes place.

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4 years ago

A customer has come to your department with an urgent question. You promised her that you would collect information about her qu

slamgirl [31]

Answer: ask for permission to arrive about 12:15 in the afternoon to the meeting and reply the customer question first.

Explanation:

Most of the actions taken inside a company are directed to customers' satisfaction, they are an important part of all business, so they have to be a priority. In this case, the worker can explain to the supervisor the urgent necessity of replying to the customer and the previous promise that has done of replying by noon. The supervisor may understand the important situation and summarize for the worker the 10 first minutes of the meeting; in this way the worker won't miss the meeting and will keep his commitment with the customer.

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3 years ago

The acacia ant nests and feeds in the plant’s hollow thorns. The ant helps protect the bullshorn acacia by attacking insects and

babunello [35]

Answer:

mutualism

Explanation:

because both animals in the relationship benefit

8 0

3 years ago

Read 2 more answers

On June 30, 2021, the Esquire Company sold some merchandise to a customer for $66,000. In payment, Esquire agreed to accept a 8%

umka21 [38]

Answer:

Esquire Company

Date Particulars Debit Credit

30 June Accounts Receivable $ 66,000

Sales $ 66,000

On June 30, 2021, the Esquire Company sold some merchandise to a customer for $66,000.

31 Mar Note Receivable $ 66,000

Account Receivable $ 66,000

Esquire agreed to accept a 8% note requiring the payment of interest and principal on March 31, 2022.

31 December Notes Receivable $ 66,000

Interest Receivable $ 3960

Sales $ 66,000

Interest Revenue $ 3960

To record the accrued interest earned. $66,000*8%= $ 5280. As it is for nine months the amount would be $ (5280/12)*9= $ 3960

31 March Cash $ 71,280

Interest Income $ 5280

Notes Receivable $ 66,000

March 31, 2022 collection of Note receivable and interest accrued.

2. The income will be understated by an amount of $ 3960 in 2021 if an adjusting entry is not made on Dec 31 of accrual interest.

The adjusting entry on 31st December 2022 of the interest accrual will not be required as interest has been received on March 31st 2022.

The income will be understated by $ 5280 in 2022 if an adjusting entry is not made on Mar 31st 2022 of the interest received.

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4 years ago