1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Gelneren [198K]
3 years ago
14

"Price gouging" is when a seller responds to high demand by charging as much as they possibly can, even if that price exceeds wh

at most people think is reasonable. The average consumer thinks that price gouging is unfair. Some even think it should be illegal. But most economists think it is an efficient response to the market. What do you think? Should price gouging be illegal? Is it fair?
Business
1 answer:
Kamila [148]3 years ago
6 0

Answer:

Price gouging is charging unnecessarily high prices for goods if they are in high demand in market. From a sellers perspective its profitable because he/she is able to get more profits on a good and because the goods have a high demand the goods will eventually be sold even on a high price.

From a consumers perspective if the good is a basic need and the consumer is paying high price for it, this can be frustrating but the consumer will have to buy it. If the commodity is not a basic need then the consumer can just stop buying that good and can substitute any other good.

Explanation:

Price gouging is charging unnecessarily high prices for goods if they are in high demand in market. From a sellers perspective its profitable because he/she is able to get more profits on a good and because the goods have a high demand the goods will eventually be sold even on a high price.

From a consumers perspective if the good is a basic need and the consumer is paying high price for it, this can be frustrating but the consumer will have to buy it. If the commodity is not a basic need then the consumer can just stop buying that good and can substitute any other good.

You might be interested in
A new technological breakthrough increases production for an industry and shifts the supply curve to the right. If the firm ____
dezoksy [38]

Answer:

Produces products that are considered elastic

Explanation:

Technological changes is one of the key determinant of the supply and we know that technological advancement in the production of a particular commodity will lead to increase the production level of the firm. This will lead to shift the supply curve rightwards, which increases the equilibrium quantity and decreases the equilibrium prices.

Hence, if the demand for the products is elastic then the total revenue of the firm increases because this firm has the more quantity effect than the price effect, so this will increase the firm's profit.

7 0
3 years ago
Why can a price discriminating monopolist be both more profitable and more efficient (i.e., produce greater net benefits for soc
STatiana [176]

Answer:

The Correct answer is "Because it supplies a higher quantity of output than a single price monopolist"

Explanation:

A cost segregating monopolist charges distinctive cost to various gathering of shoppers based on their capacity to pay, which empower it to create higher amount than a non-separating monopolist.  Since it supplies a higher amount of yield than a solitary value monopolist.

3 0
3 years ago
Read 2 more answers
Mercury Company sells tickets in advance for its weekly productions and records the proceeds as Unearned Revenue. At the end of
sattari [20]

Answer:I did the calculations and i believe i got it right.

Explanation:

Mercury sold 500 tickets at $40 a piece, okay, still with me, good. Yet, only 450 tickets were used during the month. What that mean is to minus 50 tickets. 50 multiplied by $40 is $2000. 500 multiplied by $40 equals to $20000. $20000 minus $2000 is equaled to $18000. They also had a Unearned Revenue account that had a credit balance of $5000. So, that means they should be in "debt." They should have $-15000. Add $2000, it is equaled to $-13000. So it should be $-13000. If wrong, i'm sorry.

8 0
3 years ago
The bond has a coupon rate of 6.11 percent, it makes semiannual payments, and there are 2 months to the next coupon payment. A c
allsm [11]

Answer:

$997.37

Explanation:

For computing the invoice price first we have to determine the accrued interest which is shown below:

Accrued interest is

= Par value × coupon rate × remaining months ÷ total months

= $1,000 × 6.11% × 4 months ÷ 12 months

= $20.37

Now

Invoice price is

= Clean price + Accrued interest

= $977 + $20.37

= $997.37

6 0
3 years ago
What is the difference between having a co-signer and becoming an authorized user?
prohojiy [21]

Answer:

The correct answer is letter "D": As a co-signer, you open an account and an adult signs on with you; as an authorized user, you are added to someone’s existing account

Explanation:

Co-signers are individuals that could help others to open a credit card account in case that person does not meet specific credit history requirements but the credit card issuer. Co-signers must be 21 years old. Authorized users are added to the account to request information, change it, or make payments.

8 0
3 years ago
Read 2 more answers
Other questions:
  • Johnson Company calculates its allowance for uncollectible accounts as 10% of its ending balance in gross accounts receivable. T
    8·1 answer
  • A consumer's decision-making process is influenced by his/her _________, consisting of those people who help shape the consumer'
    5·1 answer
  • Consider the relative liquidity of the following assets: Assets 1. A $5 bill 2. The funds in a savings account 3. A boat you own
    6·1 answer
  • Fixed costs included in this income statement are $2,000 for meal production and $400 for administrative costs. Maria has receiv
    9·1 answer
  • "I promise to pay $5,000 to Lorenzo on or before August 1, 2001, in return for the same amount borrowed from him on May 1, 2001.
    10·1 answer
  • Identify the three key elements of the human resources planning model and discuss the relationships among them.
    8·1 answer
  • Which of the following is a downside of a newspaper ad?
    10·2 answers
  • Poorer countries have historically been responsible for the bulk of world carbon emissions because of poor technology and enviro
    8·1 answer
  • Answer the following question as it relates to the 2013 Louisiana Residential Agreement to Buy or Sell: The purchase agreement p
    11·1 answer
  • Partnership XYZ distributed a piece of land in a nonliquidating distribution to Bob, a 50% partner, during the current taxable y
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!