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Alexxandr [17]
3 years ago
14

Suppose the equilibrium price of a pound of bacon is $3.50. The government decides that people have a right to a pound of bacon

at an affordable price. To protect this new right, the government passes a law setting a maximum price of $1.50 for bacon. As a result of the legislation, there will be Choose one: A. either an excess supply or an excess demand for bacon; it depends on the market reaction to the price control. B. neither an excess supply nor an excess demand for bacon. C. an excess supply of bacon. D. an excess demand for bacon.
Business
1 answer:
VikaD [51]3 years ago
6 0

Answer:

The correct answer is option D.

Explanation:

The equilibrium price of a pound of bacon is $3.50.

In order to protect the consumers, the government imposes a binding price ceiling of $1.50.  

This price ceiling will create a shortage of bacon or an excess demand for bacon in the market.  

Because of the law of demand and law of supply, at price lower than the equilibrium price, the quantity demanded will be higher while the quantity supplied will be lower.  

This difference between quantity demanded and quantity supplied will create an excess demand in the market.

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a) 5,6%

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On July 1, Smith Company borrowed $430,000 cash by signing a 10-year, 8% installment note requiring equal payments each June 30
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One of your customers is delinquent on his accounts payable balance. you've mutually agreed to a repayment schedule of $630 per
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Answer:

27.14  months

Explanation:

to calculate how long it will take to pay the loan, we can use an excel spreadsheet and the NPER function:

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=NPER(1.03%,630,14850) = 27.14  months

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3 years ago
Match the word or phrase with the best description of it. a. select the correct word or phrase An expression about whether finan
liubo4ka [24]

Answer Explanation

An expression about whether financial statements conform with generally accepted accounting principles

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business that raises money by issuing shares of stock:

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8 0
3 years ago
Beta Corporation acquired 100 percent of the voting shares of Yang Inc. by issuing 10,000 new shares of $10 par value common sto
poizon [28]

Answer:

The question is not complete.

Here is the complete question:

Beta Corporation acquired 100 percent of the voting shares of Yang Inc. by issuing 10,000 new shares of $10 par value common stock with a $40 market value.

Required:

1) Which company is the parent and which is the subsidiary?

2) Define a subsidiary corporation.

3) Define a parent corporation.

4) Which entity prepares consolidated worksheet?

5) Why are elimination entries used?

Here are the answers:

1. Beta Corporation is the parent while Yang Inc. is the subsidiary.

2.A subsidiary  corporation is an investee company in which another entity has a controlling interest in. This controlling interest is majorly achieved when the entity has more than 50% f the total voting shares.

3. A parent corporation is the investment entity which has a controlling interest in another entity called subsidiary.

4. It is the parent corporation that prepares consolidated worksheet.

5. Elimination entries are used to avoid double recording of values of assets, liabilities and equity in the consolidated accounts.

Explanation:

Parent and subsidiary is a form of relationship that exists where one entity has a controlling investment in another.

6 0
3 years ago
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