All categories

4 years ago

A good example of a government imposed-price ceiling is:

1 answer:

8 0

A price ceiling would exist on items like the rent for apartments, which some municipalities would place on landlords as a way of making sure people find affordable housing. By setting the price at a maximum, the government has imposed a ceiling above which it is illegal to charge.

You might be interested in

Suppose that flu shots create a positive externality equal to $20 per shot. what is the relationship between the market equilibr

GarryVolchara [31]

The flu shots create a positive externally equal to $20 per shot. The relationship between the market equilibrium output level and the efficient equilibrium output produced is directly proportional. As the equilibrium output increases, the market equilibrium output level also increases.

8 0

3 years ago

M has four liens, which were recorded in the following order: $150,000 on the mortgage, $2,000 to a general contractor for a new

AnnyKZ [126]

Answer:

First the bank will collect its $150,000 and then the county will collect $2,500 in unpaid property taxes.

Explanation:

Generally, liens get in line depending on the time that they were recorded (contractor then credit card) but property taxes have superiority over other liens even f they were recorded before. After the foreclosure, the liens cease to exist, but not the debt. The property will still owe $500 in taxes and the previous owner will still owe $3,000 to the contractor and $12,000 in credit card debt.

4 0

4 years ago

On December 31, 2021, Larry's Used Cars had balances in Accounts Receivable and Allowance for Uncollectible Accounts of $70,000

Fittoniya [83]

Answer:

December 31, 2022 Bad debts $ 2975

Explanation:

On December 31, 2021, Accounts Receivable $70,000

Allowance for Uncollectible Accounts $1,250

During 2022, Bad Debts $2,675

Allowance for Uncollectible Accounts $5,650 at December 31, 2022

Bad debt expense for 2022 would be

December 31, 2021

Allowance for Uncollectible Accounts $1,250

During 2022, Bad Debts $2,675

Required Adjustment $ 1425

December 31, 2022 Bad debts $ 2975

Allowance for Uncollectible Accounts $5,650 adjusted Balance

Allowance for Uncollectible Accounts Written Off $2,675

Required Adjustment $ 2975

5 0

4 years ago

Read 2 more answers

You invest $1,000 in a complete portfolio. the complete portfolio is composed of a risky asset with an expected rate of return o

stepladder [879]

An investor invests 70% of her wealth in a risky asset with an expected rate of return of 15% and a variance of 5%, and she puts 30% in a Treasury bill that pays 5%. Her portfolio's .... To form a complete portfolio with an expected rate of return of 11%, you should invest ______ of your complete portfolio in Treasury bills.

7 0

3 years ago

EBook

KonstantinChe [14]

Answer:

Cost Flow Methods

Gross profit and ending inventory on April 30 using:

Gross Profit Ending Inventory

(a) first-in, first-out (FIFO) $75 $546

(b) last-in, first-out (LIFO) $71 $542

Explanation:

a) Data and Calculations:

Item Beta Cost

April 2 Purchase $270

April 15 Purchase 272

April 20 Purchase 274

Total $816

Average cost per unit = $272 ($816/ 3 units)

Assume that one unit is sold on April 27 for $345

Gross profit and ending inventory on April 30 using:

Gross Profit Ending Inventory

(a) first-in, first-out (FIFO) $75 ($345 - $270) $546 ($816 - $270)

(b) last-in, first-out (LIFO) $71 ($345 - $274) $542 ($816 - $274)

Ending inventory = Cost of goods available for sale Minus Cost of goods sold

Gross profit = Sales Minus Cost of goods sold

3 0

3 years ago