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Troyanec [42]
3 years ago
15

When people conduct business without regard for government controls on price or quantity is called a black market. Please select

the best answer from the choices provided T F
Business
1 answer:
Natalija [7]3 years ago
7 0

The statement ‘When people conduct business without regard for government controls on price or quantity is called a black market’ is true. The transactions made in the black market is illegal because it does not follow the set of rules by the government.

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Elastic demand exists when:
arlik [135]

Answer:

B. a small percentage decrease in price produces a larger percentage increase in quantity demanded and total revenue increases. 

Explanation:

Elasticity of demand measures the responsiveness of quantity demanded to changes in price.

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

Demand is elastic if a small percentage decrease in price produces a larger percentage increase in quantity demanded . Total revenue would increase because the percentage increase in Quanitity demanded exceeds the percentage decrease in price.

If demand is elastic, a small percentage increase in price produces a larger percentage decrease in quantity demanded and total revenue increases.

Here, total revenue falls because percentage decrease in price exceeds the percentage increase in price. 

Demand is inelastic if a small percentage decrease in price produces a smaller percentage increasein quantity demanded.

Demand is perfectly inelastic if the quantity demanded remains the same regardless of level of price.

I hope my answer helps you

6 0
3 years ago
Julia received a notice that her son’s tricycle had been recalled. Which consumer right protected Julia? the right to be informe
suter [353]
The right to service
8 0
3 years ago
Read 2 more answers
On May 1, Shilling Company sold merchandise in the amount of $5,800 to Anders, with credit terms of 2/10, n/30. The cost of the
Illusion [34]

Answer:

The journal entry that is to be recorded on May 1 is shown below:

Explanation:

May 1

The first entry to be posted:

Accounts Receivable A/c...................Dr     $5,800

       Sales A/c............................................Cr      $5,800

As the company made a sale, so the sale is credited and it made against the accounts receivable. Therefore, accounts receivable account is credited.

The second entry to be posted is as:

Costs of goods sold A/c....................Dr   $4,000

       Merchandise inventory A/c...................Cr   $4,000

The cost of the goods sold amounts to $4,000. So, the account of COGS is debited and it is against the inventory. Therefore, the merchandise inventory is credited.

8 0
3 years ago
An outside broker locates a seller for a buyer representative's client. In this instance, the outside broker is acting as
zmey [24]

Answer:

He is acting as a sub-agent. The sub-agent, just like the representative of the buyer, is an agent and owes a duty to care and act as an agent for the buyer representive.

4 0
3 years ago
Suppose you have $10,000 in your checking account. You withdraw $500 cash from your account and hide it under your pillow for fu
trapecia [35]

Answer:

The Money supply will decrease by $4,500

Explanation:

What will be the maximum impact on money supply today as a result of your action is that the Money supply will decrease by $4,500.

Since we assumed that you have $10,000 in your account in which you withdraw $500 cash from your account and hide it under your pillow for future use, therefore based this scenario or actions carried by you it means that your bank have fewer or lesser funds available to make loans which means the decrease will tend to affect the money supply.

Hence, you can easily calculate the effect by using the simple money multiplier.

8 0
3 years ago
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