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Cloud [144]
3 years ago
14

A price ceiling A. is an illegal price. B. is the maximum price that can legally be charged. C. is the price that exists in a bl

ack market. D. Both answers A and B are correct. E. Both answers B and C are correct.
Business
1 answer:
Inessa05 [86]3 years ago
6 0

Answer:

The correct answer is the option B: is the maximun price that can legally be charged.

Explanation:

To begin with, the concept known as<em> "price ceiling"</em> in the economics field refers to the practice that the government uses in order to establish a maximun price that is the one that can be legally charged to the consumers regarding certain products. This policy comprehends an instrument for the government that it uses it with the purpose to guarantee particular products or services that might be essential to the society so therefore the people can buy it.

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The operating revenues of the three largest business segments for Time Warner, Inc., for a recent year follow. Each segment incl
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Answer:

Time Warner, Inc.

a.

                                     Turner      Home Box Office  Warner Bros.   Total

Segment Revenues

(in millions)                  $21,700            $22,200         $80,600      $124,500

Variable costs                 4,774                10,434           25,792           41,000

Contribution margin  $16,926               $11,766        $54,808        $83,500

Contribution ratio     78% (100 - 22)    53% (100 -47) 68% (100 -32)   67%

b. Certainly, Turnover and Warner Bros. are more profitable businesses than Home Box Office in terms of total contribution margin (dollars) and contribution margin ratio.

Explanation:

a) Data and Calculations:

Segment Revenues

(in millions)

Turner (cable networks and digital media) $21,700

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Warner Bros. (films, television, and videos) 80,600

Assume that the variable costs as a percent of sales for each segment are as follows:

Turner 22%

Home Box Office 47%

Warner Bros. 32%

b) The contribution margin ratio for the three segments can easily be determined by subtracting the variable costs percentages from 100 for each segment instead of doing more computations (Contribution margin/Sales Revenue * 100).  But the results are the same for either method.

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