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3 years ago

Why do government regulations lead to higher prices for consumers?

1 answer:

6 0

Government regulations mandate production or testing requirements to ensure the quality and safety of products. This typically means specialized equipment is needed to produce the product, more employees are needed to perform quality control tests, and possibly higher quality raw materials must be used. The cost of producing the product increases with the higher quality materials, new equipment acquisition, and additional paid employee time. These added production costs are then passed on to the consumer in the final price of the product.

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Promissory estoppel is a(n) _____ doctrine that permits a court to order enforcement of a contract that lacks _____.

ehidna [41]

Promissory estopplel is a contractual agreement based on a promise rather than on a written contract but is still enforceable and legal such as in regarding payment for services rendered so that the contractor is protected financially.

8 0

3 years ago

Heritage, inc., had a cost of goods sold of $45,821. At the end of the year, the accounts payable balance was $8,773. How long o

Aliun [14]

Calculation of Days Payable Outstanding:

Days Payable Outstanding can be calculated using the following formula:

Days Payable Outstanding = (Accounts

Payable *365) / Cost of Goods Sold

= (8,773*365)/45,821

= 69.88

Hence, Days Payable Outstanding is 69.88 days. We can say that it takes on average 69.88 days to the company to pay off its suppliers during the year.

3 0

3 years ago

How sustainable is any competitive advantage for rice epicurean? for mywebgrocer?

Ainat [17]

A competitive advantage is picked up when a firm procures ascribes that enable it to perform at a more elevated amount than others in a similar industry. Building up a maintainable, upper hand requires client dedication, an awesome area, one of a kind stock, legitimate dispersion channels, great seller relations, a notoriety for client benefit, and different wellsprings of favorable position. On the quality of data above, Rice Epicurean ought to build up a Customer Relationship Management framework for observing client inclination, devotion, and input

7 0

3 years ago

Grady exchanges qualified property, basis of $21,833 and fair market value of $26,200, for 60% of the stock of Eadie Corporation

Svetach [21]

Answer:

$26,200

Explanation:

Current gain = Fair market value of the property - Basis of qualified property = $26,200 - $21,833 = $4367. Thus, the amount of Grady current gain is $4,367

We now determine the basis that Gredy takes for the share of Eadie stock

Basis = Original basis of qualified property + Current gain

Basis = $21,833 + $4,367

Basis = $26,200

Thus, basis that Gredy takes for the share of Eadie stock is $26,200

3 0

3 years ago

Look at the tables below, which show, respectively, the willingness to pay and willingness to accept of buyers and sellers of in

Anastaziya [24]

Answer:

(a) The equilibrium quantity is Q* = 6 (b) The quantity supplied by private sellers is Q* = 0 (c) The new new equilibrium price is $9, the new equilibrium quantity is = 5 bags, and the bags were oranges were over produced is Q* = 1

Explanation:

Solution

(a) When the equilibrium price is at $8, the the quantity of equilibrium is stated as:

From the data given, when the price at equilibrium is $8, then the six consumers namely, bob, barb, bill, brat, Brent, Betty were all willingly to pay much more than the equilibrium price and the 6 producers namely, Carlos, Courtney, chuck, Cindy, Craig, chad accepted, because the price at equilibrium is greater than the minimum accepted price.

So,

The equilibrium price is Q* = 6

(b) If all the buyers are free riders, then the maximum willingness of the price of buyers is $0, because the willingness of the buyer's is lesser than the accepted minimum price of the sellers, for this producers will not be willingly to produce, thus the supplied quantity by private sellers is 0

Hence,

Q* = 0

So,

The new price of equilibrium is = $9

At the new equilibrium price $9 where 5 consumer and producer were willing and accepting to pay more than the equilibrium price

So,

The new equilibrium quantity is Q* = 5 bags

Now,

If the new equilibrium quantity of 5 bags is an optimal quantity,

Then,

(6-5) which results to 1 bag were overproduced.

Therefore,

Q* = 1

5 0

2 years ago