Answer: Price ceilings are beneficial to society, and are often necessary, in that they make sure that essential goods are financially accessible to the average person, at least in the short run. By lowering costs, price ceilings also have the beneficial effect of helping to stimulate demand, which can contribute to the health of an economy.
However, there can also be downsides to price ceilings. While they stimulate demand, price ceilings can also cause shortages. Where the ceiling is set, there is more demand than at the equilibrium price. This means that the amount of the good or service supplied is less than the quantity demanded.
For example: in agriculture, medicine, and education, many governments set maximum prices to make the needed goods or services more affordable. Producers may respond to such an economic situation by rationing supplies, decreasing production levels or lowering the quality of production, making the consumer pay extra for otherwise free elements of the good (features, options, etc.), and more.
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Answer:
The land should be reported in the financial statements at $41,500
Explanation:
The company will report the asset value in the financial statements as their original purchase price of $40,300. Under Historical cost principle, the price of an asset on the balance sheet is always based on the original cost when the company purchased the asset. It follows the Generally Accepted Accounting Principles (GAAP) which is widely accepted. Therefore the land is reported in the financial statements at its purchase value of $41,500
Combination of forecasting models is likely to lead to the lowest rmse of the combined forecast is AR and MA models.
Combining forecasts, from time to time called composite forecasts, refers back to the averaging of unbiased forecasts. These forecasts may be primarily based totally on special statistics or special techniques or both. The averaging is performed the usage of a rule that may be replicated, together with to take a easy common of the forecasts.
The AR element includes regressing the variable on its very own lagged (i.e., past) values. The MA element includes modeling the mistake time period as a linear mixture of mistakess phrases going on contemporaneously and at diverse instances withinside the past.
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Answer:
$406.07
Explanation:
Revenue for year 1 = $100
Profit = 20%
Growth rate of revenue, = 15% per year = 0.15
Now,
year 1 is the base year thus, take it as n = 0
Revenue for the year = $100 × ( 1 + r )ⁿ
Profit = 20% of [$100 × ( 1 + r )ⁿ]
Year n Revenue Profit
1 0 $100( 1 + r )⁰ $20
2 1 $100( 1 + r )¹ $23
3 2 $100( 1 + r )² $26.45
4 3 $100( 1 + r )³ $30.4175
5 4 $100( 1 + r )⁴ $34.98
6 5 $100( 1 + r )⁵ $40.227
7 6 $100( 1 + r )⁶ $46.261
8 7 $100( 1 + r )⁷ $53.2004
9 8 $100( 1 + r )⁸ $61.1804
10 9 $100( 1 + r )⁹ $70.357
Hence,
Total profit for the year 1 - 10 = $406.07
