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zmey [24]
2 years ago
13

Review Question 1 What is meant by deadweight​ loss? Why does a price ceiling usually result in a deadweight​ loss? Deadweig

ht loss is a​ _____________________. A price ceiling results in a deadweight loss when the ceiling price is set​ ________________ the market clearing price. A. net loss in​ output; above B. net loss of consumer and producer​ surplus; below C. net loss in​ output; below D. net loss of consumer and producer​ surplus; above Click to select your answer and then click Check Answer. All parts showing
Business
1 answer:
KiRa [710]2 years ago
8 0

Answer:

b

Explanation:

Price ceiling is when the government or an agency of the government sets the maximum price for a product. It is binding when it is set below equilibrium price.

Effects of a binding price ceiling

1. It leads to shortages

2. it leads to the development of black markets

3. it prevents producers from raising price beyond a certain price

4. It lowers the price consumers pay for a product.  

The dead weight loss is the reduction in total surplus as a result of price setting. When price is set below equilibrium price, less goods are produced and consumed. This leads to a reduction in consumer and producer surplus

Consumer surplus is the difference between the willingness to pay of a consumer and the price of the good.

Producer surplus is the difference between the price of a good and the least price the seller is willing to sell the product

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Suppose that your marginal federal income tax rate is 30%, the sum of your marginal state and local tax rates is 5%, and the yie
snow_tiger [21]

Answer:

Option (B) is correct.

Explanation:

Given that,

Marginal federal income tax rate = 30%

Sum of your marginal state and local tax rates = 5%

Yield on thirty-year U.S. Treasury bonds = 10%

Municipal bond has a yield:

= U.S Treasury bonds × (1 - tax)

= 10% × (1 - 30%)

= (10 ÷ 100) × [1 - (30 ÷ 100)]

= (10 ÷ 100) × (70 ÷ 100 )

= (1 ÷ 10) × (7 ÷ 10 )

= (7 ÷ 100)

= 7%

3 0
3 years ago
A company manufactured 50,000 units of a product at a cost of $450,000. It sold 45,000 units at $15 each. The gross profit is
siniylev [52]

Answer:

$270,000

Explanation:

Calculation for The gross profit

Using this formula

Gross profit = Sales + Cosing stock - Purchases

Let plug in the formula

Gross profit =(45,000*15) +

(450,000/50,000)*5,000 - 450,000

Gross profit =$675,000+(9*5,000)-450,000

Gross profit =$675,000+$45,000-450,000

Gross profit = $270,000

Therefore The gross profit is $270,000

4 0
2 years ago
Which communication concept recognizes that one person is a member of various co-cultures?
Svetllana [295]

The  communication concept that  recognizes that one person is a member of various co-cultures is Intersectionality communication.

What is Intersectionality communication.?

Intersectionality  can be regarded as the  framework  that is been used in  conceptualizing a person, group of people,  which can be attributed to dept. of discriminations and disadvantages.

It involves the  people's overlapping identities as well as  experiences in order to understand the complexity of prejudices  in the society.

in this case, The  communication concept that  recognizes that one person is a member of various co-cultures is Intersectionality communication.

Learn more about Intersectionality communication. on:

brainly.com/question/26152499

#SPJ1

8 0
1 year ago
Social recognition, in which social media is used to recognize employee performance on a daily basis, has not yet been found to
uysha [10]

Answer:

The correct answer is letter "A": True.

Explanation:

<em>Social media</em> can be useful for different purposes but is <em>not the best platform through which executives should provide employee appraisal</em> because of its informal character. There are some other dynamic approaches such as 360-degree feedback in which not employers but also coworkers can rate employees' performance in their work frame, being this one of the most effective methods to boost their efficiency.

7 0
3 years ago
Which of the following is not a good example of a marketing-related key success factor?
igomit [66]

Answer: A. a well-known and well-respected brand name

Explanation:

Good examples of a marketing-related key success factor include breadth of product line and product selection, proven ability to improve production processes, clever advertising and courteous, personalized customer service.

Therefore, a well-known and well-respected brand name is not among the options for Marketing related success factors.

4 0
3 years ago
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