Answer:
A) a non-binding price floor
Explanation:
A non-binding price floor is a price floor set below the current equilibrium price, so it really doesn't affect either the supply or demand of the product.
A binding price ceiling will result in a shortage since it decreases quantity supplied and increases quantity demanded. Rent control is a type of binding price ceiling. A minimum wage is a type of binding price floor which results in labor supply surplus since the quantity of labor supplied will increase but the quantity of labor demanded will decrease.
Answer:
Laptop = $3250
Desktop = $2900
Explanation:
Total finance charge = $398
Laptop cost = 350 + x
Desktop = X
<u>Workings</u>
Finance cost = (7% *X ) + (6% * 350+x ) = 398
0,07 X + 0.06 X + 21 = 398
0.13 X + 21 = 398
0.13 X = 398 -21
0.13 X = 377
Therefore ,X = 377/0.13
=2900
Cost of Desktop = 2900
Cost of Laptop =2900+350 =3,250
Answer:
The correct option is D
Labour budget = $1,974,175
Explanation:
The labour budget is the product of the standard labour cost per unit and the budgeted production in units
Labour budget = standard labour cost× production budget in unit
The production budget can bed determined by adjusting the sales budget for closing and opening inventories.
Production budget = Sales budget +closing inventory - opening inventory
Production budget = 39,000 + 100 -200 = 38,900 units
Labour budget = $14.50× 3.5× 38,900 = $1,974,175
Labour budget = $1,974,175
Answer:
mutual mistake
Explanation:
A mutual mistake happens when all the parties involved in a contract (two or more) are mistaken or do not know the correct information about some specific material fact that is relevant to the contract. In this case, the contract can be rescinded because Harry believes that Ryan wants to buy his Cadillac, while Ryan believes Harry is selling his Porsche.
Since both of them are mistaken and do not know relevant material facts regarding the contract, the contract can be terminated.
