1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
allochka39001 [22]
3 years ago
14

You have responsibility for economic policy in the country of freedonia. recently, the neighboring country of sylvania has cut o

ff all exports of oranges to freedonia. george, who is one of your advisors, says that the best way to avoid a shortage of oranges is to take no action at all. charles, another one of your advisors, argues that without a binding price floor, a shortage will certainly develop. otto, a third advisor, suggests that you should impose a binding price ceiling in order to avoid a shortage of oranges. which of your three advisors is most likely to have studied economics?
Business
1 answer:
andrey2020 [161]3 years ago
3 0

Answer:

George

Explanation:

Both price ceilings and price floors can cause economic shortages, because they are government imposed distortions to prices. In other words, they do not allow prices to adjust supply and demand.

George knows this because he is probably an economist, and that is why he does not recommend neither price ceilings nor price floors.

You might be interested in
Danny "Dimes" Donahue is a neighborhood’s 9-year-old entrepreneur. His most recent venture is selling homemade brownies that he
Ratling [72]

Answer:

Relative responsiveness of consumer to change in price is called elasticity of demand.

Elasticity of demand here is 7.

Demand is highly elastic.

Cutting the price from $1.25 to $0.75, total revenue remains same as the elasticity of demand does not change.

Explanation:

Percentage change in quantity demanded due to percentage change in price.

Elasticity of demand=% change in quantity demanded/percentage change in price.

Small change in price caused a huge change in quantity demanded.

5 0
3 years ago
Your uncle has $500,000 and wants to retire. He expects to live for another 30 years and to earn 6.5% on his invested funds. How
Andrei [34K]

Answer:

$38, 288.718

Explanation:

The amount to be withdrawn at the end of each year, for  30 years

The amount of $500,000 represents the present value while yearly withdraws the annuities.

We use a revised formula for calculating annuities.

Applicable formula is

P   = PV × r/( 1 − (1+r)−n

P = annual withdrawals

PV  = $500,000

r = 6.5%

n 30

P = 500,000 x( 0.065/ ( 1- (1 + 0.065) -30)}

p = 500,000 x (0.065/ (1-1+.065)-30)

p= 500,000 x (0.065 / 1-0.1511860661)

P =500,000 x (0.065 /0.848814)

P= 500,000 x 0.076577436

Yearly withdrawals  = $38, 288.718

3 0
3 years ago
One advantage of proprietary software versus off-the-shelf software is that _____.
Serjik [45]

(C) the software provides a company a competitive advantage by solving problems in a unique manner

Proprietary software is a special software designed for a specific application and owned by the organization, firm or individual that uses it. Proprietary software can give an organization leverage over competitors, by solving problems in a unique manner, however, off-the-shelf software is mass produced software used by several other organizations, thereby giving other organizations simple and identical problem-solving technique.


6 0
3 years ago
Read 2 more answers
What is The key to successful training and development programs?
yawa3891 [41]

Begin by conducting a needs assessment. Be able to tie the need for training to the organization's goal. Provide effective communications to ensure employees understand the value of taking time to attend the program.

Hope this helps! :)

6 0
3 years ago
Charles is planning a trip to Guatemala. He has allocated $415 for spending money. If the exchange rate from US dollars to Guate
svet-max [94.6K]
A. its the answer  3,533.10 quetzals
4 0
3 years ago
Read 2 more answers
Other questions:
  • You own 850 shares of Western Feed Mills stock valued at $53.15 per share. What is the dividend yield if your total annual divid
    13·1 answer
  • Apple s dominance of smartphone and tablet markets has allowed the firm to lock up 60 percent of the world s supply of advanced
    10·1 answer
  • Anheuser-Busch InBev SA/NV (BUD) reported the following operating information for a recent year (in millions):
    9·1 answer
  • Recently, the acme explosives company was sold to a new owner, roadrunner inc. the operations of the two organizations are going
    7·1 answer
  • Suppose you start with $100 and buy stock for £50 when the exchange rate is £1 = $2. One year later, the stock rises to £60. You
    11·1 answer
  • Which type of critic expresses thoughts with precision, clarity, and grace, through the careful building up of ideas, a presenta
    8·1 answer
  • According to the five forces model, an attractive industry would include all of the following characteristics EXCEPT: a. low thr
    12·1 answer
  • Cloud Storage Solutions works closely with customers showing them early versions of its software and interface and then quickly
    10·1 answer
  • Most successful organizations minimize the need for explicit rules, regulations, and other boundaries by
    11·1 answer
  • A perfectly competitive market is initially in long-run competitive equilibrium. Then, market demand falls. By the time all adju
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!