<span>Setting a rent control price ceiling will cause the same impact as any other price ceiling that is below the market equilibrium price: it will create a shortage in the market. At the price equilibrium of $600, the number of renters would exactly meet the number of available 2 bedroom apartments. However, with this fixed price ceiling, the position along the demand curve will shift to one of higher demand, with no analogous change in the supply curve. Thus there will be more renters than can be supported, and renters will have to look for alternatives and substitutes.</span>
Answer:
Franchising
Explanation:
In Franchising, a company who already has a successfully established brand give other people with the ability to open new branch by using that brand.
Example for this would be McDonald. McDonald operate under a franchising system, in which a person who have enough capital to provide building can pay a certain amount money to McDonald in exchange for permission to use its brand.
In most franchising system, the Franchiser usually impose a strict regulation regarding the format of the business. They do this in order to maintain the reputation of the brand.
Answer:
The answer is: E) As long as the law affects commerce among the states, or interstate commerce, in some way, the regulation is generally constitutional.
Explanation:
Article I, Section 8, Clause 3 of the Constitution of the US:
[The Congress shall have Power] To regulate Commerce with foreign Nations, and among the several States, and with the Indian Tribes.
Generally speaking, Congress can pass laws that affect trade (either allow or restrict trade) between states, between nations or with Native American Tribes. It also includes laws about navigable waters, e.g. rivers and oceans.
Answer:
8%
Explanation:
The formula and the computation of the price elasticity of supply is shown below:
Price elasticity of supply = (Percentage change in quantity supplied ÷ percentage change in price)
where,
Price elasticity of supply = 0.4
And, the percentage change in price = 20%
So, the percentage change in quantity supplied is
= Price elasticity of supply × the percentage change in price
= 0.4 × 20%
= 8%
It shows a direct relationship between the quantity supplied and the price.
Noninstallment credit is paid in a lump sum and not in installments. It most often very short term!
