Select the correct answer.
2 answers:
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Answer:
July = $237,600
August = $238,400
Explanation:
Note that credit sales account for only 80% of total sales, the remainder should be considered as cash receipts in the month of sale. Cash receipts for July are 20% of July total sales, plus 25% of July credit sales, plus 55% of June credit sales, and 20% of May credit sales:
Cash receipts for August are 20% of August total sales, plus 25% of August credit sales, plus 55% of July credit sales, and 20% of June credit sales:
Budgeted cash receipts are:
July = $237,600
August = $238,400
Answer:
a. Price ceiling
b. see graph
c. Increases
d. Increases, decreases
Explanation:
a. Price ceiling is the maximum price or ceiling so to speak imposed by government for a particular commodity inorder to relieve purchase burden from the consumers.
b. Take note of the price ceiling in the graph attached.
c. Number of demanded check-ups increases, since they are now more affordable.
d. Consumer surplus increase by $10, while the producer surplus decrease by $10 ($50-$40).
