Answer:
The correct answer is: demand curve; option C.
Explanation:
A price floor is the lowest limit fixed on the price of a product. It is imposed by the government to protect the producers.
A binding price floor is fixed above the equilibrium market price. It is a horizontal line above the equilibrium price.
The consumers are willing to purchase the quantity where the price floor intersects the demand curve.
There is an excess supply as firms supply more at a higher price while the consumers demand less.
Since there is a difference between the equilibrium price and what the consumers are willing to pay, there exists a deadweight loss. This deadweight loss is the triangular area below the demand curve and above the supply curve between equilibrium quantity and price floor quantity.
Answer:
The bargaining power of customers
.
Explanation:
As Bethany wants to buy a pair of designer boots and to find the best price, she searches the Internet and compares prices among the eight sites that sell the boots, she is using the bargaining power of buyers or customers from the Porter's five competitive forces. This force illustrates that customers are definitely have many options available with them for buying a particular product. Customers will be having much power when the number of available options increases because it becomes very easy for the customers to choose from those options or they can switch to some other seller quite easily and quickly in this case. Conversely, consumers will have less power when there are only fewer options present in the market. In this case Bethany has 8 different web sites present in front of her and with the single click of mouse button and flick of her fingers, she can easily compare the prices and options, that's why she can practice her bargaining power.
Answer:
correct option is d. $450
Explanation:
given data
Tony earns = $32,000
Liz earns = $31,000
Gross income = $63,000
Tony IRA contribution = $1,000
Liz IRA contribution = $2,000
solution
as we know that IRA limit is $6500
so they will get benefit here on = $1000 + $2000 = $3000
so benefit = $3000 × 15 %
benefit = $3000 × 0.15
benefit = $450
so correct option is d. $450
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Answer:
The annual cost to have this annuity is 16.66%
Explanation:
Solution
Given that
You pay an annuity of = $15,000
Annuity pays =$2500 per year
n =10 years
The rate of return = 5%
The estimated inflation is -6% average
Now
We find the annual cost to own this annuity
Thus
We find the real or actual yield given as:
I =PNR
$2500 = $15,000 * 1 * r
So,
R=$2500/$15,000
=0.1666 or 16.66 %