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kiruha [24]
3 years ago
11

Suppose that the market equilibrium price for a basic medical check-up is $50, in a market in which there is no health insurance

. To encourage more people to get a check-up, the local government mandates that the price of a check-up cannot be more than $40. Would the number of check-ups in this market, increase, decrease, or remain unchanged, relative to the market equilibrium
Business
1 answer:
asambeis [7]3 years ago
5 0

Answer:

The number of check-ups in this market would decrease.

Explanation:

This is an example of price ceiling.  

Price ceiling refers to a legal maximum price that is set by the government for a commodity to be sold.

Price ceiling set below the equilibrium price will result in a supply shortage as it will be effective and binding, while price ceiling set above the equilibrium price will not affect quantity supplied in the market as it will not be effective and binding.

Since the $40 price of heck-up is below $50 equilibrium price, it will result in shortage supply and the number of check-ups in this market would decrease.

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etermining Gross Profit During the current year, merchandise is sold for $990,000. The cost of the merchandise sold is $693,000.
otez555 [7]

Answer:

Results are below.

Explanation:

<u>A: To calculate the gross profit, we need to use the following formula:</u>

Gross profit= sales - cost of goods sold

Gross profit= 990,000 - 693,000

Gross profit= $297,000

B: <u>Now, the gross profit percentage:</u>

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C: F<u>inally, a net income is reported in the income statement at the moment of the sale</u>. It doesn't matter if the sale was paid or not.

6 0
2 years ago
Which of the following costs do not vary with the amount of output a firm produces? a. average fixed costs b. fixed costs and av
Harrizon [31]

Answer:

d. fixed costs

Explanation:

The fixed cost is the cost which does not change if there is a change in the level of production i.e if the production level is increased or decreased it the fixed cost would remain the same as it is previous before

Therefore according to the given situation, since the fixed does not vary with the amount of firm output

Hence, option d is correct

4 0
3 years ago
g define the process of accommodation in the mechanism of focusing by the eye. what factors lead to age-related changes in accom
Luba_88 [7]

The accommodative ability changes greatly because of age-related changes in the eye, including a decrease in the elasticity of the lens and the degeneration of the Zonular fibers and the ciliary muscles surrounding the lens.

The process of accommodation, or focusing on near objects, happened by a concerted action of the ciliary muscle on the zonule fibers which hold the lens in place. The ciliary muscle can be described as a ring of smooth muscle that, upon contraction, relaxes the tension on the zonular fibers and allows the lens to become more spherical.

Learn more about the accommodation at brainly.com/question/14248224

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