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Gelneren [198K]
2 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]2 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.

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Employers may pay nonexempt employees who work fluctuating schedules a fixed salary. in these cases, the extra pay is?
kvasek [131]

Employers may pay nonexempt employees who work fluctuating schedules a fixed salary, in these cases, the extra pay is None of the above are correct.

Many firms simply pay an hourly rate plus time and a half for every hour worked in excess of forty. But there are also other legal ways to pay nonexempt workers and determine how much overtime they are due.

Nonexempt employees are paid a defined weekly salary under the variable workweek approach, which is described in 29 CFR 778.114, regardless of the number of hours they put in.

They also earn additional overtime compensation when they clock in for more than 40 hours in a workweek. In other words, whether an employee works 30, 40, or more hours a week, their pay remains the same.

Every hour the employee works over 40 in a workweek that exceeds 40 is compensated with additional overtime pay.

To learn more about Overtime Pay here

brainly.com/question/26571744

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3 0
1 year ago
Material delays have routinely limited production of household sinks to 400 units per day. If the plant efficiency is 80%, what
andreev551 [17]

Answer:

Effective capacity= 500 units

Explanation:

Effective capacity is defined as the maximum amount of product a manufacturing process can complete in a given period. Considering constraints such as delays, quality problems, and material handling.

Effective capacity is dependent on the design of the system. Design capacity is defined as the theoretical capacity of a system based on its design.

Effective capacity is calculated by dividing the actual capacity by efficiency.

Effective capacity= Actual Capacity/ Efficiency

Effective capacity= 400/0.8

Effective capacity= 500 units

5 0
3 years ago
Pittsburg Resources acquired a coal mine for $6,000,000. The company’s survey estimates that 120,000 tons of coal can be extract
Yuri [45]

Answer:

The answer is given below;

Explanation:

1.$6,000,000/120,000=$50*25,000=$1,250,000

2.this method is called units of digits method for depletion.

The accounting treatment shall be;

Depletion Expense    Dr.$1,250,000

Accumulated Depletion  Cr.$1,250,000

When the asset will retire, the accumulated depletion will be eliminated with corresponding effect to mine                        

7 0
3 years ago
Which of the following defines a means-tested program?
Gekata [30.6K]
The answer is eligibility depends on income.

Means-tested program is an aid to poor and lower-income person. Example of the aid given is food stamp, medicaid, public housing and temporary assistance.
6 0
3 years ago
Read 2 more answers
It is necessary to balance your checking account each month<br><br> true<br> false
yuradex [85]

Answer:

true so that you know what you have spent

8 0
3 years ago
Read 2 more answers
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