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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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The following transactions were completed by the company. The company completed consulting work for a client and immediately col
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Swifty Corporation had 197000 shares of common stock, 19200 shares of convertible preferred stock, and $1503000 of 4% convertibl
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3 years ago
Joni Hyde Inc. has the following amounts reported in its general ledger at the end of the current year.
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90,000

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An intangible asset is an asset that is not physical in nature. Goodwill, brand recognition and intellectual property, such as patents, trademarks, and copyrights, are all intangible assets.

Trademarks                                                 = 15,000

Excess of cost over the fair value of net

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4 0
2 years ago
7. Winston Company estimates that the factory overhead for the following year will be $1,250,000. The company has decided that t
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Answer:

$17,500

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Actual factory overhead for the year = $1,375,000

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4 0
3 years ago
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