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9966 [12]
3 years ago
9

e competitive equilibrium rent in the city of Lowell is currently​ $1,000 per month. The government decides to enact rent contro

l and to establish a price ceiling for apartments of​ $750 per month. Briefly explain whether rent control is likely to make each of the following people better or worse off.
Business
1 answer:
nikklg [1K]3 years ago
6 0

Answer:

The people that are already renting an apartment are going to benefit from the price ceiling ($750) since it is lower than the equilibrium price of $1,000. They will be OK as long as they keep renting their apartments.

But since price ceilings lower the quantity supplied of apartments, if someone is currently looking for an apartment or is considering moving to another apartment, then they will be worse off.

Less owners will be willing to rent their apartments at the price set ($750) because they are losing money. So there will be less available apartments which obviously will make it more difficult to find a new apartment to rent hurting both tenants and owners.

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Bill is the owner of a house with two identical apartments. He resides in one apartment and rents the other apartment to a tenan
Mnenie [13.5K]

Answer:

B. $2,600

Explanation:

The computation of the net rental income is shown below:

= Monthly rental payments × total number of months in a year - (utilities + maintenance & repairs  + insurance) × percentage - depreciation expense

= $550 × 12 months - ($3,600 + $900 + $500) × 50% - $1,500

= $6,600 - $2,500 - $1,500

= $2,600

Since only one apartment is on rent so we considered the expenses of the building at 50% not full value and the same is applied above

5 0
2 years ago
Which statement about the role of white papers in business solutions is true? Multiple Choice They directly address a customer's
FromTheMoon [43]

Answer: They help a customer solve a problem without promoting a particular company's products

Explanation:

White paper is simply refered to as an authoritative report that is used in order to addresses certain issues that are deemed to be vital and also provide solution to such issues.

White papers gives awareness regarding particular products and it helps customer solve a problem without promoting a particular company's products.

8 0
3 years ago
During the current month, Grey Company sold 60,000 units for $10 each. Each unit had an equivalent cost of $6 each. The journal
Romashka [77]

Answer:

The sale entry would be:

Dr Trade Receivable  $ 600,000

Cr                     Sale            $600,000

And the inventory sent out of warehouse to customer would be recorded as:

Dr Cost of goods sold $360,000

Cr Finished Goods account  $360,000

Explanation:

As we know the sale is credit in nature and inventory sold on credit increases the trade receivable which is debit in nature.

So the entry would be:

Dr Trade Receivable  $ 600,000

Cr                     Sale            $600,000

And the inventory sent out of warehouse to customer would be recorded as:

The reason is that once the product is sold then the cost of finished goods is eliminated from the inventory account and would be charged to the cost of goods sold. So the entry would be posted by the cost of equivalent that the company has incurred to manufacture the product. Here the cost of equivalent is given and is $6 per unit.

So for the sale of 60,000 units the total cost of equivalent will be:

Total equivalent cost = 60,000 units * $6 per unit = $360,000

And the entry would be:

Dr Cost of goods sold $360,000

Cr Finished Goods account  $360,000

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3 years ago
Which of the following is a challenge faced by developing nations? A. Growing population B. Declining population C. Lack of effo
DedPeter [7]
A growing population
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A manager tells her production employees, "It's no longer good enough that your work falls anywhere within the specification lim
ololo11 [35]

Answer:

The answer is D. Taguchi concepts.

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3 years ago
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