Answer:
C. $215,000
Explanation:
The statement indicates that on the first $50,000 the auction house charges 15%, which means that for the first $50,000 the house charged:
$50,000*0,15%= $7,500
From the total commission of $24,000, $7,500 were for the first $50,000.
$24,000-$7,500= $16,500
Now, you have to determine the amount in excess of $50,000 from which the house charged the remaining $16,500. So, you have that an x amount multiplied for 10% or 0,10 is equal to $16,500:
x*0,10= 16,500
x= 16,500/0,10= 165,000
You have determined that the house charged $7,500 on the first $50,000 and $16,500 on $165,000 which means that the price of the painting is:
$50,000+$165,000= $215,000
Answer:
Market price = $2, profit = $0
Product differentiation
Increase profit
Explanation:
The market price will be $2, since the two firms will compete against each other, then the ori e falls to the marginal cost of $2
Product differentiation refers to the distinction made in a market whereby mostly similar products are produced. The variation or distinction made by different producers is usually used to influence consumer decision. The inscription of iguana made on the chest of iz and odd's t-shirt brand is to differentiate its product from that of Ralph and Lauren.
The Economic reason which could have likely sparked iz and odd's decision to put Iguana on its t-shirt brand is to give consumers something a bit more different from their usual design, thereby enticing more customers and ultimately increase profit.
The purpose of loaded words in advertisements is to influence the reader. Loaded words is a term used for words that can persuade a consumer to buy or use a product or service based on the way something was advertised. Usually, loaded words appeal to a consumers emotions and create a want or need for the product or service. These types of advertisements are used to appeal to a consumer emotionally rather than factually.
<h2>Answer</h2>
Increases
<h3>Explanation</h3>
When an increase in the production cost is experienced, there are high chances that the supply will be affected significantly. With increased costs, in this scenario, less wheat is supplied, rending the wheat supply curve to shift inwards. An inward shift of the wheat supply curve will result in decreased supply and since less supply has to met more demand, so price will rise, thus an increased equilibrium price is attained.
Complete Question:
Under Article 7 on “hard money loans” (cash) of $30,000.00 and over for first trust deed loans, and $20,000.00 and over for junior deeds of trust, except where the new usury laws apply, the loan broker’s commission maximum is:
Group of answer choices
A. 10%.
B. 12%
C. 20%
D. As much commission as her borrower will agree to pay her.
Answer:
D. As much commission as her borrower will agree to pay her.
Explanation:
Under Article 7 on "hard money loans" (cash) of $30,000.00 and over for first trust deed loans, and $20,000.00 and over for junior deeds of trust, except where the new usury laws apply, the loan broker’s commission maximum is as much commission as her borrower will agree to pay her.
However, in some states a usury law has been passed to define the maximum rate of interest that may be charged on some hard money loans.
In real estate transactions, a hard money loan can be defined as a short-term loan or loans of last resort which is secured by a real property. These type of loans are mainly issued by the private investors (individuals or companies) rather than the common lenders such as credit union or a bank.
