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Delvig [45]
3 years ago
13

When cities prevent landlords from charging market rents, which of the following are common long-run outcomes? Check all that ap

ply. a. The quality of rental housing units falls. b. Landlords earn lower profits from renting housing units, but the rent charged has no effect on either the quantity or quality of rental units. c. The quantity of available rental housing units falls. d. The future supply of rental housing units increases.
Business
1 answer:
Thepotemich [5.8K]3 years ago
7 0

Answer:

a. The quality of rental housing units falls

c. The quantity of available rental housing units falls.

Explanation:

As the landlord cannot receive a desired return for their investment they will stop improving and doing proper maintenance of the property to obtain it.

They will also be less likely to rent and would prefer to sale and move away from the real-state investment business in the region to more profitable region or better business. This will make the ernt go up as there is less offer as well so the policy backfires.

Stoping the market to work property will cause market failures and the outcome won't be the desired

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problem 08-07 (algo) you are the manager of a monopolistically competitive firm, and your demand and cost functions are estimate
Ad libitum [116K]

Demand function: Q = 48 - 2P

a) 2P = 48 - Q

Therefore the inverse Demand function is

P = 24 - Q/2

b) P = 24 - Q/2

Total Revenue = PQ = (24 - Q/2)*Q

TR = 24Q - Q2/2

MR = differentiating TR with respect to Q

MR = 24 - Q

We know a firm will maximize profit at MR = MC

TC = 6 + 3Q + Q2

MC = 3 + 2Q

Putting MR = MC, we have

24 - Q = 3 + 2Q

24 - 3 = 2Q + Q

21 = 3Q

Q = 21/3 = 7

Q = 7

Putting the value of Q in the equation P = 24 - Q/2

P = 24 - 7/2

P = 24 - 3.5

P = 20.5

Therefore the profit-maximizing output is 7 and the price is $20.5

c) TR = PQ = 20.5*7 = $143.5

TC = 6 + 3Q + Q2 = 6 + 3*7 + 7*7 = 6 + 21 + 49 = $76

Profit = TR - TC = 143.5 - 76 = $67.5

Therefore the firm's maximum profit is $67.5

d) a) entry will occur until profits are zero

In the long run, more and more firms will enter the market and the economic profit will be zero in the long run.

In economics, a Demand function is a graph depicting the connection between the price of a sure commodity and the amount of that commodity that is demanded at that fee. call for curves may be used both for the price-amount courting for a person client, or for all purchasers in a selected marketplace.

Learn more about the Demand function here: brainly.com/question/24384825

#SPJ4

5 0
2 years ago
5-When a local auto repair shop sponsors a local softball​ team, it is using the​ _____ element of the promotional mix.
mote1985 [20]

When a local auto repair shop sponsors a local softball​ team, it is using the​ public relations element of the promotional mix.


Public relations allows a company to create a good image with the public through relations and organizations they work with for the public to see. When the local auto repair shop sponsors a local softball team, they are not only advertising their name, but people are recognizing them as a company that gives back. By being active in their community they are building public relations.

3 0
3 years ago
Under what condition will a monopoly firm incur losses?
Readme [11.4K]
<span>A monopoly would have to make it so the marginal revenue is less than the marginal cost, and in return, the monopoly would end up losing money instead of gaining money. This means that they are spending more money than they are making.</span>
3 0
3 years ago
Jones Mfg. has current assets of $26,900, net working capital of $8,200, long-term debt of $21,500, and total equity of $57,800.
abruzzese [7]

Answer:

A

Explanation:

Jones Mfg. has current assets of $26,900, net working capital of $8,200, long-term debt of $21,500, and total equity of $57,800. What is the equity multiplier?

6 0
2 years ago
At December 31, 2020, Desert Company reports the following balances for its liability accounts:   7% note payable issued 10/1/20
LekaFEV [45]

Answer:

Desert Company

The amount of notes payable that should be recorded as a current liability will be $520,000.

Explanation:

The 8% notes payable had been refinanced to a long-term notes payable.  But, the 7% notes payable was still being negotiated for refinancing.  Since the refinancing had not been agreed, the notes payable would still have a balance of $520,000.  However, a note in accounts could state the fact that the notes payable was being negotiated for refinancing.

5 0
3 years ago
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