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3 years ago

What is the difference between a price floor and a price ceiling?

2 answers:

6 0

Just like in math, floor means to round down (minimum), ceiling means to round up (maximum).

The only one that'd make sense would be the first statement.

AleksandrR [38]3 years ago

3 0

Answer: The answer is A price floor is the minimum price allowed for a good. A price ceiling is the maximum price allowed for a good.

Explanation:

A price floor refers to the minimum price of a good or product. It is a price control which limits the lowest price of a product or service.

A price ceiling refers to the maximum price of a good. It is the price a seller is mandated to charge for a product or service. Government impose price ceiling in order to protect consumers from buying at higher or expensive prices.

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Which of the statements is true regarding advertising? Perfectly competitive firms have the strongest incentive to advertise. Ad

myrzilka [38]

Answer:

The correct statement about the advertisement is that, it is the only potential as well as effective toll if the firm or business has the market power.

Explanation:

Advertising is the term which is stated as the medium by which the firm informs the potential customers or clients about the goods and services, arouse interest as well as induce the buyers to buy the product.

It helps in differentiate the products and also build the brand. So, in case the firm does not have the market power, then the firm would not have the no control over the quantity and the price of the product, which lead to ineffective advertising.

7 0

2 years ago

Statement of stockholders’ equity Financial information related to Organic Products Company for the month ended June 30, 20Y9, i

Nata [24]

Answer:

As for the provided information, we have,

<u>Statement of Stockholder's Equity</u>

Date Common Stock Retained Earnings Total

1 June $150,000 $1,610,000 $1,760,000

Stock issued $70,000 $70,000

Net income $112,000 $112,000

Dividends ($26,000) ($26,000)

30 June $220,000 $1,696,000 $1,916,000

Note: Dividend is deducted from net income.

And net income is a part of retained earnings.

6 0

3 years ago

What is the unit cost per tire when 4,000 tires are produced?

Papessa [141]

Answer: $76

Explanation:

If Blue Wagon sells everything it produces, this means that the capacity of the factory is underutilised and so more goods can be produced.

The fixed cost for producing 3,000 tires will therefore be the fixed costs for producing 4,000 tires.

= 20 * 3,000

= $60,000

Total cost when 4,000 tires are produced is;

= Variable costs + fixed costs

= (38 * 4,000) + ( 14 * 4,000) + ( 9 * 4,000) + 60,000

= 152,000 + 56,000 + 36,000 + 60,000

= $304,000

Cost per tire;

= 304,000/4,000

= $76

7 0

3 years ago

Tony works as a salesperson at Franklin Delights, a company that specializes in labor-saving kitchen appliances. When Tony gives

klasskru [66]

Answer: adaptive selling

Explanation: In simple words, adaptive selling refers to the ability under which an employee changes his or her behavior with the change in the status of the clients.

Under such style of selling, the salesman performing highly focus on the type of customer, the situation in which sales is made and the feedback received and tailors his or her approach to sales accordingly.

In the given case, Tony is stating different facts regarding the product for different customers. Hence we can conclude that he is doing adaptive selling.

7 0

3 years ago

Which best describes the main role of the three major credit reporting agencies?.

kaheart [24]

The best three main roles of major credit reporting agencies are:

Compile consumer credit
Loan information and
Provide it to lenders and businesses.

<h3>What is a credit reporting agency?</h3>

A credit reporting agency is a company that keeps track of people's and companies' credit histories. They get information from creditors and other sources, which they put into a credit report, which incorporates a credit score when it's released.

The best three main roles of major credit reporting agencies are:

Compile consumer credit
Loan information and
Provide it to lenders and businesses.

Learn more about credit reporting agencies here:

brainly.com/question/9913263

3 0

2 years ago