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Dvinal [7]
3 years ago
6

If a quota license is awarded to a domestic firm without an auction, it may generate bribes or lobbying spending to earn this re

venue. Economists call this a(n) ____ activity.
Business
1 answer:
Natasha2012 [34]3 years ago
6 0

Answer:

c) wasteful rent-seeking

Explanation:

Rent-seeking is an economic activity that does not add any value, and it often includes lobbying and spending resources of your own company. This is a common practice when companies cannot find another feasible revenue stream, so they manipulate the distribution of various resources to gain wealth. This way, no value is created.

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A minimum wage is an example of a price floor or minimum price that must be paid. If effective, such a price floor would be ____
valkas [14]

Answer:

If effective, such a price floor would be <u>above</u> the market price and would lead to a <u>excess supply</u>.

Explanation:

A price floor can be described as a price control in which the minimum price to be charged for goods and services is imposed by a government or a group.

For a price floor to be effective and binding, it has to be set above the market or equilibrium price. This is because a price floor will neither be effective nor nonbinding when it set below the equilibrium price.

Any price above the equilibrium or market price creates or leads to excess supply. Excess supply is a situation whereby quantiy of commodity supplied is more than the quantity demanded of the commodity.

Based on the above explanation, if effective, such a price floor would be <u>above</u> the market price and would lead to a <u>excess supply</u>.

3 0
3 years ago
One of the reasons that services marketing has lagged behind product marketing is because marketing first developed to move prod
nevsk [136]
The answer is false
4 0
3 years ago
Read 2 more answers
Which of the following is true of specialty stores? Group of answer choices They carry a deep assortment of merchandise within a
MrMuchimi

The correct option is that they carry a deeper by narrower assortment of merchandise within a single category of interest.

<h3>What is a specialty store?</h3>

This refers to a retail store which lay emphasis on selling products which have specific category. It is to be noted that specialty store have a wide selection of products but few categories.

Hence, the correct option is that they carry a deeper by narrower assortment of merchandise within a single category of interest.

Learn more about specialty stores here: brainly.com/question/7145120

#SPJ12

8 0
1 year ago
Granting a foreign company the right to manufacture your product your product or to use your firm's trademark in return for a fe
Sveta_85 [38]
The correct answer is : licensing

During licensing process, a licensor company granted another company to use their brand of productsBut the licensor company does not take part in the operational process. They licencor only receive some payment in exchange of using their brand
6 0
2 years ago
Sunland Construction Company uses the percentage-of-completion method of accounting. In 2021, Sunland began work on a contract i
Westkost [7]

Answer:

$3900000

Explanation:

The gross profit is the difference between the revenue earned during the year and the cost of sales. The percentage of completion method is one in which the revenue is recognized based on the cost incurred to date on the project.

Revenue to be recognized in 2021

= $15600000/($15600000 + $9600000) * $31500000

= $19500000

Though the billings for the year is lower, the difference may be recognized as unbilled receivable.

As such, the gross profit for the year

= $19500000 - $15600000

= $3900000

5 0
3 years ago
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