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3 years ago

The language of price controls

Business

1 answer:

mel-nik [20]3 years ago

4 0

Answer:

1) The government prohibits gas stations from selling gasoline for more than $3.40 per gallon.

This statement is an example of price ceiling as the gas stations cannot raise their price above $3.40 but can sell it at any price lower than the ceiling price of $3.40. This is binding

2) Due to new regulations, gas stations that would like to pay better wages in order to hire more workers are prohibited from doing so. This is neither a price ceiling or floor as government isn't directly affecting the price with their policy

3) The government has instituted a legal minimum price of $3.40 per gallon for gasoline. This is an example of price floor and is binding. The reason it is a price floor is because the petrol stations cannot charge a price below $3.40 but can charge any price above the floor price of $3.40

Explanation:

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Jackson Co. began the year with $20,000 in inventory. During the year, the company purchased $80,000 worth of inventory. At the

Irina-Kira [14]

Answer:

The total cost of goods sold = $70,000

Explanation:

Given:

Initial inventory at the start of the year for Jackson Co. = $20,000

Total cost of purchases made during the year = $80,000

Inventory remaining at the end of the year = $30,000

Solution:

Total inventory for Jackson Co. during the year = $\$20,000+\$80000= \$100,000$

Inventory remaining at the end of the year = $30,000

The cost of the goods sold can be calculated by subtracting the remaining inventory from the total inventory.

Thus, cost of goods sold can be given as :

⇒ $\$100,000-\$30,000$

⇒ $\$70,000$

The total cost of goods sold = $70,000

8 0

3 years ago

Two methods for communicating metrics are dashboards and _______

ch4aika [34]

Answer:

Scorecards.

Explanation:

Two methods described for communicating metrics are dashboards and scorecards. These are not mutually exclusive as these can be related and used simultaneously.

Scorecards compares the strategic goals with the actual performance called results. It is a vertical strategy in which management implements its strategies while moving the symmetrical step with goals.

5 0

3 years ago

What makes australian economy so prosperous?

Setler79 [48]

Capitalist economic policies caused Kenya's economy to prosper.

3 0

3 years ago

Frolic Corporation has budgeted sales and production over the next quarter as follows: July August September Sales in units 46,5

Digiron [165]

Answer:

61,500 units

Explanation:

July August September

budgeted sales 46,500 58,500 61,500

budgeted production 47,050 58,800 63,150

beginning inventory 5,300 5,850 6,150

ending inventory 5,850 6,150 7,800

ending inventory August = beginning inventory + budgeted production - budgeted sales = 5,850 + 58,800 - 58,500 = 6,150

units sold during September = beginning inventory + budgeted production - ending inventory = 6,150 + 63,150 - 7,800 = 61,500

8 0

3 years ago

You are to receive the following payments at the end of the following periods:

dangina [55]

Answer: $12,113.14

Explanation:

Find out the future value of each payment 20 years from now then sum up the values.

Year 1:

= 250 * ( 1 + 15%)¹⁹

= $3,557.94

Year 2:

= 300 * ( 1 + 15%)¹⁸

= $3,712.636

Year 3:

= 450 * ( 1 + 15%)¹⁷

= $4,842.5688

Future value of all:

= 3,557.94 + 3,712.636 + 4,842.5688

= $12,113.14

4 0

2 years ago