Cooling-Off Rule.
The FTC allows consumers to cancel purchases within 3 days from sales made when salespeople come to consumers' homes. This "cooling-off rule" helps consumers feel less pressure and to assess their purchases after the salesperson has left his or her home. The rule acknowledges the power disparity when salespeople enter consumers' homes attempting to make a sale.
Answer:
The lender charged $2,550 for the points.
Explanation:
Discount points is a type of prepaid fees that mortgage borrowers can purchase from the lenders that lowers the quantity of interest that the borrower will have to pay in the future. In general, the discount points costs 1% of the amount borrowed. A discount point usually lowers the loan interest amount to be paid by an one-eight to one-quarter of a percent.
To determine the charge for the points in our case above, we can express the discount charge points as shown;
D=R×L
where;
D=discount point charge
R=standard discount point rate
L=loan amount
In our case;
D=unknown
R=1%
L=$85,000
replacing;
D=(1/100)×85,000=$850
The lender charged $850 for one points.
Determine the total charge for all the points purchased using the expression below;
T=D×N
where;
T=total charge for all the points
D=charge per point
N=number of points purchased
In our case;
T=unknown
D=$850
N=3 points
replacing;
T=850×3=$2,550
The lender charged $2,550 for the points.
Answer:
The correct answer is option B.
Explanation:
An increasing-cost industry is that kind of industry where the cost of production increases as new firms enter the industry. It generally happens as the industry expands, the cost of inputs increases, because the input demand is increasing as well.
An increasing cost industry has an upward sloping long-run supply curve. So when the demand increases, the new demand curve will intersect the upward sloping demand curve at a higher point. This will cause both the product price as well as the output level to increase.
Answer:
165 lawns
Explanation:
The computation of the number of lawns is shown below:
= The cost of scooter ÷ Profit per lawn
where,
The cost of the scooter is $2,200
And, the profit per lawn is
= Charging per lawn - estimated cost per lawn
= $16 - $2.7
= $13.3
So, the number of lawns is
= $2,200 ÷ $13.30
= 165 lawns
Basically we dividing the cost of scooter by the profit per lawn
Answer:
$190.75
Explanation:
In this question, we are asked to use weighted average method to find the cost to which the 14 units sold is closest to.
We proceed as follows;
On April one, there were 9 items in the inventory with a cost of $13 per item. The total cost here would be 13 * 9 = $117
On April 18th, we had 15 items at $14 cost per piece which gives a total of 14 * 15 = $210
On April 29, 14 units were sold. We need to find the cost to which this was closest using the weighted cost approach.
The total costs for April 1 and 18 would be $117+ $210 = $327
The weighted average cost per unit on both dates is $327/24 = $13.625
The cost of 14 units sold would be = 14 * $13.625 = $190.75
