In response to a shortage caused by the imposition of a binding price ceiling on a market,
a. price will no longer be the mechanism that rations scarce resources.
b. long lines of buyers may develop.
c. sellers could ration the good or service according to their own personal biases.
A binding price ceiling is when the government or an agency of the government sets the maximum price of a good or service below the equilibrium price.
When price of a good is set below the equilibrium price of the good, the producer surplus would decreases and the consumer surplus would increase. This would lead to an excess of demand over supply. As a result, a shortage would occur. As a result of the shortage, black markets would occur.
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Agree, since two minds work better than one.
Unstructured Interviews are common in small businesses. Option C is correct.
<h2>What is an Unstructured Interview?</h2>
- It refers to an interview in which the questions are not prearranged by the interviewer that is to be asked to the respondents.
- Unstructured interviews are more casual and unrehearsed than structured interviews in which prearranged, standardized questions are asked.
- This provides free-flowing conversation on respondents' personal qualities and knowledge related to relate to the work.
Since in small companies, the work areas of employees are wider than the big corporate.
Therefore, unstructured Interviews are commonly used in small businesses to get a deeper understanding of respondents' personal qualities related to work.
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The amount of net income reported on Sparty's income statement is $19,690.
<h3>
What is revenue?</h3>
- The total amount of income earned by the sale of goods and services connected to the principal operations of the firm is referred to as revenue in accounting.
- Commercial revenue is often known as sales or turnover.
- Some businesses make money by charging interest, royalties, or other fees.
<h3>What are dividends?</h3>
- A dividend is a profit distribution made by a corporation to its shareholders.
- When a corporation makes a profit or has a surplus, it can pay a portion of the earnings to shareholders as a dividend.
- Any money that is not dispersed is re-invested in the company.
<h3>Solution -</h3>
To find the amount of net income reported on Sparty's income statement, use the following formula:
Net Income = Gross Profit — Operating Expenses — Other Business Expenses — Taxes — Interest on Debt + Other Income
Net income = 80000 - 31000 - 11000 - 18130 = 19690
Therefore, the amount of net income reported on Sparty's income statement is $19,690.
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Answer: William should replace the machine with a new one because over that 2 year span he will be losing less money, if he were to repair he would lose more money.
Explanation:
