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3 years ago

5

"if a price ceiling on physician services is going to be effective, it must be set ______ the competitive market equilibrium pri

ce to prevent the market from driving the price _______"

1 answer:

kenny6666 [7]3 years ago

3 0

Price Ceiling

Sellers are prohibited by law from charging a higher price to buyers covered under the ceiling

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This year Randy paid $29,050 of interest on his residence. (Randy borrowed $464,000 to buy his residence, and it is currently wo

Luden [163]

Answer:

the last part of the question is missing, so I looked for it:

a. Randy received $2,200 of interest this year and no other investment income or expenses. His AGI is $75,000.

b. Randy had no investment income this year, and his AGI is $75,000.

a) Randy can deduct $31,575:

the mortgage interest is deductible
the car loan interest is not deductible
he can deduct $4,725 - $2,200 = $2,525 as investment interest expense

b) Randy can deduct $29,050

the mortgage interest is deductible
the car loan interest is not deductible
since he had no investment revenue, he cannot deduct any investment interest expense

5 0

3 years ago

The following are several of the accounts from a recent balance sheet.

Burka [1]

Answer:

<u>Account Name</u> <u>Balance Sheet Classification</u> <u>DR or CR Balance </u>

1. Accounts Receivable CA Debit

2. Prepaid Expense CA Debit

3. Inventories CA Debit

4. Long-Term Debt NCL Credit

5. Cash and Cash Equivalent CA Debit

6. Accounts Payable CL Credit

7. Income Tax Payable CL Credit

8. Contributed Capital SE Credit

9. Property Plant and Equipment NCA Debit

10. Retained Earning SE Credit

11. Short-Term Borrowing CL Credit

12. Accrued Liabilities CL Credit

13. Goodwill (an Intangible Asset) NCA Debit

Explanation:

6 0

3 years ago

Kevin has $20 to spend on summer clothes. He is looking at shirts, shorts, and flip-flops. Shirts are $10, shorts are $15, and f

rusak2 [61]

A the opportunity cost $10 the benefits is that he now has a shirt

5 0

3 years ago

The supply of aged cheddar cheese is inelastic, and the supply of bread is elastic. Both goods are considered to be normal goods

Kryger [21]

Answer:

D) a decrease in both the aged cheddar cheese and bread markets.

Explanation:

A 10% income tax increase will shift the aggregate demand curve to the left, reducing total demand. This should affect both necessities and luxury goods.

In this case, the demand curve for both aged cheddar cheese and bread will shift to the left, reducing the total quantity demanded at every price level. This will result in a lower equilibrium price for both goods.

3 0

3 years ago

You want to buy a new sports coupe for $84,500, and the finance office at the dealership has quoted you an apr of 6.6 percent fo

Margaret [11]

Answer: The monthly payment will be $2007.81.

We have:

Cost of the sports coupe (PV) $84,500

Annual Percentage Rate (APR) 6.6%

Loan tenure in months (n) 48

We can find the monthly payment by using the Present value of an annuity formula:

$\mathbf{PV_{Annuity}= PMT * \left ( \frac{1-(1+r)^{-n}}{r} \right )}$

Since APR is a yearly number, we need to convert it into a monthly rate.

So , $r = \frac{0.066}{12} = 0.0055$

Plugging values in the PV formula above we get,

$\mathbf{84500 = PMT * \left ( \frac{1-(1+0.0055)^{-48}}{0.0055} \right )}$

$\mathbf{84500 = PMT * \left ( \frac{1-0.768529253}{0.0055} \right )}$

$\mathbf{84500 = PMT * \left ( \frac{0.231470747}{0.0055} \right )}$

$\mathbf{84500 = PMT * 42.08559028}$

$\mathbf{\frac{84500}{42.08559028}= PMT}$

$\mathbf{PMT = 2007.813112}$

8 0

3 years ago