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Contact [7]
3 years ago
6

According to the textbook, government price controls fail because: A. they are not enforced. B. legislation cannot repeal basic

economic motives. C. bureaucrats lack accurate market data. D. firms ignore the restrictions.
Business
1 answer:
Morgarella [4.7K]3 years ago
4 0

Answer:

The correct answer is letter "B": legislation cannot repeal basic economic motives.

Explanation:

Government price controls are regulations imposed by the central government of a country to set limits on prices of certain goods or services because of a surplus, shortage or simply to maintain the demand and supply of those products at their equilibrium level.  

However, the demand for some of those products could be unpredictable because individuals could react in opposite directions even if the government has set rules against consumers' favor. <em>Customers' motives might not be always repealed by legislation</em>.

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A friend tells you that they cannot afford to pay fof the standardized tests that needs to be taken to apply for college and mil
kondor19780726 [428]

You could tell them to take out a student loan, or a normal loan, or borrow money somewhere.

You could also pity them because of their unfortunate circumstances and let them suffer as they watch the private sector rule over the middle and lower class to no avail.

5 0
3 years ago
Read 2 more answers
Which of the following from the institutional view is true about the two essential dimensions of organization? a. The technical
____ [38]

Answer:

The institutional structure is that part of the organization most visible to the outside public

Explanation:

An organization ecosystem is defined simply as a system formed by the relationship or interactions of a community of organizations and their environment.

Organizational niche:

is simply an area, region or domain of unique environmental resources and needs.

An Organization is simply defined as a body or and entity that have clear inside/ outside boundary that work towards an explicit aims.

The institutional view is of the notion that when an organizational field is just getting started, diversity is the norm, but later there is a push for similarity.

4 0
3 years ago
The cob Douglas production function is given by Q(K,L)=AK^1.4*L^1.6
Alexeev081 [22]

Part a) The Cob Douglas production function is given as:

Q(K,L)=AK^{1.4} L^ {1.6 } .

To show that this function is homogeneous with degree 3, we introduce be a parameter, t.

Q(tK,tL)=A(tK)^{1.4} (tL)^ {1.6 } .

Using properties of exponents, we on tinder:

Q(tK,tL)=At^{1.4}K^{1.4} t^ {1.6 }L^ {1.6 } .

This implies that:

Q(tK,tL)=t^{1.4} \times t^ {1.6 }(AK^{1.4} L^ {1.6 } )

Q(tK,tL)=t^{1.4 + 1.6}(AK^{1.4} L^ {1.6 } )

Simplify the exponent of t to get;

Q(tK,tL)=t^{3}(AK^{1.4} L^ {1.6 } )

Hence the function is homogeneous with degree, 3

Part b) To verify Euler's Theorem, we must show that:

K\frac{\partial Q}{\partial \: K}+L\frac{\partial Q}{\partial \: L}=3AK^{1.4}L^{1.6}

Verifying from the left:

K\frac{\partial Q}{\partial \: K}+L\frac{\partial Q}{\partial \: L} =K(1.4AK^{0.4} L^{1.6}) + L(1.6AK^{1.4} L^{0.6})

K\frac{\partial Q}{\partial \: K}+L\frac{\partial Q}{\partial \: L} =1.4(AK^{1.4} L^{1.6}) + 1.6(AK^{1.4} L^{1.6})

K\frac{\partial Q}{\partial \: K}+L\frac{\partial Q}{\partial \: L} =(1.4 +  1.6)(AK^{1.4} L^{1.6})

K\frac{\partial Q}{\partial \: K}+L\frac{\partial Q}{\partial \: L} =3(AK^{1.4} L^{1.6})

Q•E•D

8 0
3 years ago
When four infineon technologies executives participated in an international conspiracy to fix prices for computer memory chips,
marshall27 [118]

When four infineon technologies executives participated in an international conspiracy to fix prices for computer memory chips, they were acting with other firms as a cartel.

Given an incomplete sentence related to infineon technologies.

We are required to fill the sentence by an appropriate term.

We can fill the sentence with "a cartel".

A cartel is basically a formal agreement among firms in an oligopolistic industry. Members of cartel may agree on such matters as prices, total industry output, market shares, allocation of customers, allocation of territories, bid-rigging, establishment of common sales agencies, and the division of profits or combination of these. It is basically a group of people who are collected to complete an objective.

Hence when four infineon technologies executives participated in an international conspiracy to fix prices for computer memory chips, they were acting with other firms as a cartel.

Learn more about cartel at brainly.com/question/12015868

#SPJ4

7 0
1 year ago
For each hypothetical scenario, indicate whether the tariff described is more likely a protective tariff or a revenue tariff.
LenaWriter [7]

Answer:

a. In response to concerns from business leaders, a legislator has designed a new tariff on raw materials used by many manufacturing firms. The legislator felt the new tariff was necessary based on input from the private sector that new discoveries of natural resources abroad would threaten to put domestic producers of raw materials out of business. To meet this goal, this tariff will charge $1,500 on every crate of the imported goods plus an additional 6% of the total value of the imported goods.

  • protective tariff since it is designed to protect domestic industries from competition of out of state producers. It is designed to increase the price of imported goods.  

b. In an effort to balance next year's budget, a senator has proposed a new tariff. She proposed the new tariff with a goal of raising a total of $100 million, To meet this goal, this tariff will charge $2,000 on every ton that is imported.

  • revenue tariff since its main purpose is to increase government revenue, not to protect domestic industries.
7 0
2 years ago
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