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3 years ago

A rent ceiling set below the equilibrium rent

1 answer:

4 0

A rent ceiling set below the equilibrium rent creates a situation in which the quantity demanded of housing is greater than quantity supplied.

Option: C

Explanation:

Rent limit is the highest price a property owner can demand for rent. Rent ceilings are typically fixed by legislation and limit how high the rent can be in a given area. Although, the amount of affordable housing is also reduced as a consequence of this rule, as tenants are not interested in renting out their properties at a cheap price.

Nevertheless, if the limit is placed underneath the level of equilibrium then a reduction of deadweight is produced. Many issues come in the form of illegal markets, scanning time and charges that aren't leased precisely like key money i.e. high initial cost for new keys.

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LO 8.3When is the direct labor time variance favorable?

ExtremeBDS [4]

Answer:

The correct answer is letter "D": when the actual price is less than the standard price.

Explanation:

Direct labor rate variance compares the existing direct labor costs and normal direct labor costs over the same operating period. Favorable variance in the labor rate can be caused by hiring more unskilled employees, reducing the minimum wage, and incorrectly setting indirect labor costs. Favorable variance takes place when the costs of direct labor are efficient or lower compared to the standard.

4 0

3 years ago

The incomes of trainees at a local mill are normally distributed with a mean of $1,100 and a standard deviation $150. what perce

FinnZ [79.3K]

In this problem we are given the mean of $1100, SD of $150 and x equal to $900. In this case, we need to use the z-score table to answer the problem:
z = (x-mean)/sd
z = (900-1100)/150
z = -1.33
from z-table, the probability at the left of z= -1.33 is equal to 9.18%

8 0

3 years ago

A researcher measures driving distance from college and weekly cost of gas for a group of commuting college students. What kind

Elena-2011 [213]

Answer:

The correct answer is: a positive correlation.

Explanation:

Correlation can say something about the relationship between variables. It is used to understand:

1. If the relationship is positive or negative

2. The strength of the relationship.

Correlation is a powerful tool that provides vital pieces of information.

In the case of family income and family spending, it is easy to see that both rise or fall together in the same direction. This is called a positive correlation.

In the case of price and demand, the change occurs in the opposite direction, so that the increase in one is accompanied by a decrease in the other. This is known as a negative correlation.

8 0

2 years ago

Read 2 more answers

All Wet Water Softener Systems has Cash of $400?, Accounts Receivable of $1,000?, and Office Supplies of $600. All Wet owes $300

DanielleElmas [232]

Answer:

D. 5.00

Explanation:

The calculation of current ratio is given below :-

Current Ratio = Current Assets ÷ Current Liabilities

where,

Current Asset = cash + account receivable + office supply

= $400 + $1000 + $600

= $2,000

and the Current Liabilities is

= Account payable + salary payable

= $300 + $100

= $400

So, the current ratio is

= $2,000 ÷ $400

= 5 times

7 0

2 years ago

There are three consumers in the market for playing cards: Don, John, and Ron. At a price of $2 per pack, the quantities demande

Igoryamba

Answer:

The correct answer is B. The decrease in price causes the quantity demanded in this market to increase by 6 packs.

Explanation:

quantity demanded in this market @ $2= 3+2+1=6

quantity demanded in this market @$1.50 =4+5+3 =12

Net increase in quantity demanded is 12-6 = 6

4 0

3 years ago