If the price elasticity of demand for orange juice is 0.8, then a reduction in the price of orange juice will cause buyers to buy:
A. Fewer bottles of orange juice, and their total spending on orange juice will decrease
B. fewer bottles of orange juice, but their total spending on orange juice will increase
C. More bottles of orange juice, and their total spending on orange juice will increase
D. More bottles of orange juice, but their total spending on orange juice will decrease
Answers
If the price elasticity of demand for orange juice is 0.8, then a reduction in the price of orange juice will cause buyers to buy "more bottles of orange juice, but their total spending on orange juice will decrease".
Price elasticity of demand is a measure of the responsiveness of the quantity demanded of a good to a change in its price. When the price elasticity of demand is less than 1, as in this case where it is 0.8, the demand for the good is considered inelastic. This means that a change in price will cause a relatively smaller change in the quantity demanded. In this situation, a reduction in the price of orange juice will cause buyers to increase their purchases of orange juice, but not by enough to offset the reduction in price. As a result, the total spending on orange juice will decrease. Option D ("More bottles of orange juice, but their total spending on orange juice will decrease") correctly describes the relationship between the price of orange juice and the quantity demanded when the price elasticity of demand is 0.8. Option A ("Fewer bottles of orange juice, and their total spending on orange juice will decrease") and Option B ("Fewer bottles of orange juice, but their total spending on orange juice will increase") describe the effects of a price increase, which is the opposite of what is being described in the question. Option C ("More bottles of orange juice, and their total spending on orange juice will increase") describes the effect of a price decrease when the demand is elastic, which is not the case in this question.
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Related Questions
Team players are sought-after employees
True
False
Answers
Answer:
true,
Explanation:
Write any five methods of getting information of foreign employment and discuss any one of them.
Answers
Answer:
May it will help you
Explanation:
1) Notice board
2) Book of introduction
3) Institutions work working under the ministry of labour
4) Authority of human resources
5) Manifestos of training institutions
6)Web site
7) Newspapers
8) Public meeting :the manpower company, training institutions and institutions of public counseling are working in the field of foreign employment in nepal.
They come to the direct or indirect contact of people through various programmes of interaction, seminar, and meeting.
9)Radio and television
Foreign employment getting information through Notice board, Book of introduction, Authority of human resources, Web site, and Newspapers.
Who is Foreign employment?
Public meeting: When the manpower company, training institutions, and institutions of public counseling are working in the field of foreign employment in Nepal.
Although, They come to direct or indirect contact with people through various programs of interaction, seminars, and meetings.
Also, Foreign employment getting information through Institutions work working under the ministry of labor, Manifestos of training institutions, Radio, and television
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What are three ways to appropriately handle a difficult customer? (Choose 3)
A. Identify any practice or procedure to prevent further problems
B. Refer the customer to fellow coworkers for help
C. Identify the root cause of the problem
D. Only give attention to the customer if they spend a lot of money
E. Identify if the manager was notified of the problem first
F. Thank the customer for the opportunity to fix the problem
Answers
Answer: A, C, and F
Explanation:
The person being interviewed is known as:
A. potential employee
B. employee
C. job applicant
D. interviewee
Answers
Answer:
D
Explanation:
all other things being equal, a decrease in demand results in a(n)_____.
Answers
All other things being equal, a decrease in demand results in a decrease in quantity demanded and a downward shift in the demand curve.
When demand decreases, consumers are willing to purchase fewer goods or services at any given price. This can occur due to various factors such as changes in consumer preferences, a decrease in income, the availability of substitutes, or shifts in market conditions.
A decrease in demand puts downward pressure on prices, which may lead to reduced production levels and potentially lower profits for businesses. It is important for businesses to monitor and adapt to changes in demand to maintain their competitiveness in the market.
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A movie theater has fixed costs of $3900 per day and variable costs averaging $9 per customer. The theater takes in an average revenue of $12 per customer. How many customers per day does the theater need in order to make a profit? Give the smallest possible value. Morethan customers.
Answers
The movie theater needs a minimum of 1301 customers per day to make a profit, considering fixed costs of $3900 per day, variable costs averaging $9 per customer, and an average revenue of $12 per customer.
To calculate the number of customers needed to make a profit, we need to consider both the fixed costs and the variable costs. The fixed costs are $3900 per day, which means that regardless of the number of customers, the theater will have to cover this expense. The variable costs average $9 per customer, as mentioned. This means that for each customer, an additional $9 is spent.
Let's assume that the number of customers per day is represented by 'x'. In that case, the total cost per day is the sum of the fixed costs and the variable costs:
Total cost = Fixed costs + (Variable costs per customer * Number of customers)
Total cost = $3900 + ($9 * x)
On the revenue side, the theater takes in an average revenue of $12 per customer. So, the total revenue per day is the product of the revenue per customer and the number of customers:
Total revenue = Revenue per customer * Number of customers
Total revenue = $12 * x
For the theater to make a profit, the total revenue must exceed the total cost. Therefore, we can set up the following inequality:
Total revenue > Total cost
$12 * x > $3900 + ($9 * x)
Simplifying the inequality:
$12 * x - $9 * x > $3900
$3 * x > $3900
x > 1300
The smallest possible value for 'x' that satisfies this inequality is 1301. However, since we're dealing with a movie theater, it's not realistic to have a fraction of a customer. Therefore, the theater needs at least 1301 customers per day to make a profit.
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as a voter, why would or wouldn’t someone sign a petition calling for a statewide increase in the minimum wage? what consequences would result from raising the minimum wage?
Answers
As a voter, one might choose to sign a petition calling for a statewide increase in the minimum wage for various reasons. Some reasons could be:
1. A belief that a higher minimum wage would help reduce poverty and improve the standard of living for low-income workers.
2. A belief that raising the minimum wage could stimulate the economy by increasing consumer spending.
3. A belief in the importance of a living wage, ensures that workers can afford basic necessities.
Conversely, one might choose not to sign the petition for the following reasons:
1. A concern is that raising the minimum wage could lead to job losses, as businesses may cut back on hiring or reduce hours to offset the increased labor costs.
2. A concern that a higher minimum wage could result in increased prices for goods and services, negating the benefits for low-income workers.
3. A belief that the minimum wage should be determined by market forces, rather than government intervention.
The consequences of raising the minimum wage could include:
1. Improved financial stability for low-income workers, enabling them to meet their basic needs.
2. Stimulated economic growth due to increased consumer spending by low-wage workers.
3. Potential job losses or reduced work hours as businesses adjust to higher labor costs.
4. Possible price increases for goods and services as businesses pass on increased costs to consumers.
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Mort Silver owns a home. He estimates his expenses as mortgage interest, $10,180; property taxes, $3,690; insurance, $833; depreciation, $3,800; maintenance and repairs, $900; lost interest income, $2,375; and utilities, $2,450. He expects to save $3,700 in income taxes. What is his net cost of home ownership?
Answers
Answer:
$17,528.00
Explanation:
The net cost of home-ownership will be the expenses minus savings.
Mortgage interests: $10,180
Property taxes :$3,690
Insurance :$833
Depreciation :$800
Maintenance and repairs :$900
Loss interest income :$2,375
Utilities: $2,450
The total expenses
= $10,180 + $3,690 + $833 + $800 + $900 + $2,375 + $2,450
=$21,228
Savings
=$21,228 - $3,700
=$17,528.00
The Hartford Symphony Guild is planning its annual dinner-dance. The dinner-dance committee has assembled the following expected costs for the event. The committee members would like to charge 35 per person for the evening's activities.
(b) Assume that last year only 300 persons attended the dinner-dance. If the same number attend this year, what price per ticket must be charged in order to break even?
Answers
$40 price per ticket must be charged in order to break even.
Giving the following information:
2) Q= 300 P=?
300=6000/(P-20)
300*(P-20)= 6000
300P=12000
P=$40.
The break-even point is the point at which total costs equal total revenue. In other words, there is no loss and no profit for SMEs. This means that we have reached a stage of production where the cost of production equals the revenue of the product.
To calculate the break-even point in units, use the following formula: Break-even point (units) = fixed cost ÷ (selling price per unit – variable cost per unit) or in sales dollars, using the following formula: break-even point - points (sales) = fixed costs ÷ contribution margin.
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Assume c = 50. 50yd. if investment increases by 60, what will be the change in equilibrium output?
Answers
If investment increases by 60, the change in equilibrium output will be an increase of 300yd.
Assuming c = 50yd, the question states that if investment increases by 60, we need to determine the change in equilibrium output.
To find the change in equilibrium output, we need to understand the relationship between investment and equilibrium output. In economics, there is a concept called the investment multiplier, which determines how changes in investment affect the equilibrium output.
The investment multiplier can be calculated using the formula 1 / (1 - MPC), where MPC is the marginal propensity to consume. However, since the question does not provide the value of MPC, we will assume it to be 0.8, which is a commonly used value.
Using the investment multiplier formula, the multiplier is calculated as 1 / (1 - 0.8) = 5.
To find the change in equilibrium output, we multiply the change in investment (60) by the multiplier (5).
Change in equilibrium output = Change in investment * Multiplier
= 60 * 5
= 300yd.
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Technician A says that an air chisel is used to dress welds.
Technician B says that paintless dent repair (PDR) tools can be used to remove small dents.
Who is right?
O A only
O Bonly
O Both A and B
Neither Anor B
Answers
Answer:
B
Explanation:
Technician B is right a pdr can be used to remove dents
According to statement, technician b only is correct. Technician B says that paintless dent repair (PDR) tools can be used to remove small dents. Thus, option (b) is correct.
What is Technician?
The term technician is details of a subject or occupation, a computer technician.
Technician is work of repair and expert of work. It is easily handle problem and resolve solution.
As a result, option (b) is correct.
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What can a job candidate communicate through a video introduction that they can't convey via their resume?
A:the type of people in their professional network
B:details about their education and certification
C:their work experience and past employers
D:their personality through body language
Answers
A job candidates communicate through a video introduction that they can't convey via their resume their personality through body language. Thus, option D is correct.
What is a job?A job can be described as a process by which a person completes a task or a job. The person receives payment for the work.
A candidate is going through an introduction, and it can be Converse by the help of a video with the person are the interviewer can see him or her and examine the way that this week it also determines the personality and the body language about how sincere, confident a person is. Therefore, option D is the correct option.
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Answer:
D
Explanation:
Write True or False and explain briefly
1- Consider a firm in a perfectly competitive market.There are situations where it is optimal for the firm to continue operating in the short-run , but shut down in the long-run.
2- Consider a firm in a perfectly competitive market.There are situations where it is optimal for the firm to shut-down in the short-run , but continue to operate in the long-run.
Answers
In the long-run, firms have the flexibility to adjust their production levels and exit the market if they cannot cover their costs. Therefore, if a firm shuts down in the short-run, it is unlikely to continue operating in the long-run.
In a perfectly competitive market, a firm may choose to continue operating in the short-run even if it is not making a profit, as long as it can cover its variable costs. This is because in the short-run, firms are only concerned with covering their variable costs and minimizing losses. However, in the long-run, all costs become variable, including fixed costs. If a firm cannot cover its total costs, including both variable and fixed costs, it would be optimal to shut down in the long-run to minimize losses. In a perfectly competitive market, if a firm decides to shut down in the short-run, it means that it cannot cover its variable costs and is incurring losses. In such a situation, it would not be optimal for the firm to continue operating in the long-run, as it would continue to incur losses on both variable and fixed costs.
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Referring to an individual as “a person with schizophrenia,” as opposed to “a schizophrenic,” is an example using _____________ language.
Diagnostic
People-first
Inappropriate
Boundary-safe
Answers
Answer:
People-first
Explanation:
People-first language is a form of linguistic medication style involving a speaker putting a person before describing the actual diagnosis, that is, what a person "has" rather than asserting what a person "is."
For example, “a man walks with crutches” rather than” he is disabled.” Person-first language tends to be positive and promotes abilities rather than limitations.
Hence, in this case, Referring to an individual as “a person with schizophrenia,” as opposed to “a schizophrenic,” is an example using PEOPLE-FIRST Language.
In the U.S., cash takes which two forms
Answers
its takes the form of paper money and coins
Why do lenders often require a down payment when credit is used to purchase a good?
It reduces risk to the lender.
It eliminates interest charges.
It reduces the cost of the financed good.
It increases the cost of financing the good.
Answers
The payments are done through a down payment reduces the risk to the lender and therefore the lender requires down payments when credit is used to purchase a good. Thus (A) is the correct option.
What is a down payment?The amount of money that a purchaser pays on the purchasing of any expensive object. The down payment showcases a portion of the total purchasing amount.
It is made in the initial stage of purchasing. It reduces the risk of the lender and therefore, (A) is the correct option.
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What is the first step that must
be taken in the dissolution of a
corporation?
Answers
Answer:
D
Explanation:
The first step to closing up shop is receiving shareholder approval to formally close the corporation. The board of directors should adopt a resolution to dissolve the corporation and receive approval for the action.
Give an example of "restriction on equipment as an environmental
management measure.
Answers
Restriction on equipment can be implemented as an environmental management measure to promote sustainability and minimize ecological impacts.
By imposing limitations on certain types of equipment, industries and organizations can effectively reduce resource consumption, pollution, and waste generation. For example, in the context of manufacturing processes, a restriction on high-energy-consuming machinery can be put in place. This measure encourages the use of more energy-efficient alternatives, such as upgrading to newer equipment with improved energy-saving technologies. By limiting the use of energy-intensive machinery, organizations can significantly reduce their carbon footprint and lower their overall energy consumption, leading to cost savings and environmental benefits. Furthermore, restrictions on equipment can also target specific pollutants or hazardous substances. For instance, regulations may limit the use of certain chemicals in equipment or machinery to prevent environmental contamination. By enforcing these restrictions, companies are prompted to find alternative materials or technologies that are less harmful to the environment. This helps safeguard ecosystems, protect human health, and encourage the development and adoption of cleaner, greener practices.
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To calculate personal income from national income, which of the following must the BEA do? O A. add corporate retained earnings B. add profits O c. add government transfer payments O D. All of the above.
Answers
To calculate personal income from national income, the Bureau of Economic Analysis (BEA) must add government transfer payments. Option c is correct.
The BEA is responsible for collecting and analyzing data related to the economy, including the measurement of national income. National income is the total income earned by all individuals and businesses within a country over a specific period. Personal income is a subset of national income that represents the income received by individuals.
To calculate personal income, the BEA subtracts from national income various taxes and business expenses and then adds government transfer payments. Transfer payments include payments made by the government to individuals, such as Social Security, unemployment insurance, and welfare payments. Corporate retained earnings and profits are not added to calculate personal income as they are not income received by individuals.
In summary, to calculate personal income from national income, the BEA must add government transfer payments and subtract various taxes and business expenses. This calculation helps to provide a more accurate picture of the income received by individuals and the overall health of the economy. Option c is correct.
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Which statement best describes the relationship between credit and debt
when you use a credit card?
A. Your debt decreases as you use your credit card more.
B. Your credit decreases as you lower your debt.
C. Your credit stays the same as you lower your debt.
D. Your debt increases as you use your credit card more.
Answers
Answer:
D. Your debt increases as you use your credit card more
When you make a purchase something with a credit card, you are borrowing money from someone else. This puts you in debt. You will build up more debt from purchases until you pay the total amount due.
Hope this helps :)
Your debt increases as you use your credit card more is the statement best describes the relationship between credit and debt when you use a credit card. Thus, option (d) is correct.
What is credit card?
A bank will issue plastic or metal "credit cards" as forms of payment. When using a credit card, also known as a payment card, charges are made against a line of credit instead of the account holder's cash deposits. The credit card is more convenient as compare to cash.
By using credit card more frequently, the debt grows. They must pay the minimum amount due on credit card each month by the balance's due date in order to use one, at least.
Therefore, option (d) is correct.
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Find the value of x^3+3x^2y+3xy^2+y^3 when x=3 & y=4
Answers
Explanation:
Notice that x³ + 3x²y + 3xy²+ y³ is of the form
(x + y)³.
When x = 3 and y = 4,
(x + y)³ = [(3) + (4)]³ = 7³ = 343.
3 Do you think the conflict of interests between these different stakeholder groups could ever be resolved? Explain your answer. [10]
Answers
Answer:
t is possible to resolve conflicts of interest between groups of stakeholders using some techniques and strategies that seek to integrate stakeholders and promote agreements that benefit everyone.
Explanation:
Managing conflicts is not a simple task, so it requires substantial efforts by the entire administration to develop the best strategies for resolving conflicts. It is essential that there is an understanding of the reasons that led to the conflicts and the search for solutions that benefit the greatest possible number of stakeholders.
In a conflict situation, communication is an essential tool in the resolution, it is necessary to know how to listen to all parties and be transparent about the search for an agreement that benefits everyone. It is necessary to integrate the teams and make each one feel heard and understood with regard to conflict and claims. The search for solutions must be the main objective when resolving a conflict, when managed effectively, it is possible to eliminate the reason for the conflicts and even make the teams more motivated at work.
What is wrong with the beauty shop? a criticism of unsustainable consumerism
Answers
The criticism of unsustainable consumerism in the context of a beauty shop revolves around several key issues:
1. Excessive use of resources: Beauty shops often promote and sell a wide range of beauty products that require significant amounts of resources to produce. This includes packaging materials, energy-intensive manufacturing processes, and the extraction of raw materials. Unsustainable consumerism perpetuates the overconsumption of resources, contributing to environmental degradation and depletion of natural resources.
2. Waste generation: The beauty industry generates a substantial amount of waste, including product packaging, single-use items, and disposable materials. Many of these items end up in landfills or contribute to pollution in oceans and other ecosystems. Unsustainable consumerism fosters a "throwaway culture" where products are used briefly and then discarded, further exacerbating waste management challenges.
3. Environmental impact: Some beauty products contain ingredients that are harmful to the environment and can contribute to pollution. For instance, certain chemicals in cosmetics can contaminate waterways or have adverse effects on ecosystems when improperly disposed of. Additionally, unsustainable sourcing practices for ingredients can lead to deforestation, habitat destruction, and loss of biodiversity.
4. Social and ethical concerns: Unsustainable consumerism in the beauty industry can also have social and ethical implications. This includes issues such as unfair labor practices, unsafe working conditions, and exploitation of workers in the supply chain. Furthermore, unrealistic beauty standards perpetuated by the industry can contribute to body image issues and negatively impact individuals' mental health.
Addressing these criticisms requires a shift towards sustainable practices in the beauty industry. This can involve adopting environmentally friendly packaging, promoting ethical sourcing and production methods, reducing waste through recycling and refill programs, and advocating for more inclusive and diverse beauty standards. By encouraging responsible consumption and mindful choices, the beauty industry can work towards a more sustainable and equitable future.
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Which statement best describes how insurance works?
A. Insurance lowers the individual effects of financial loss by spreading the risk to a larger group.
B. Insurance companies collect and hold a customer's premiums and pay claims from that money in the event that the customer has a loss.
C. Insurance companies borrow money from banks when they have to pay claims to policyholders.
D. Insurance companies change the coverage types offered on policies based on an individual's loss history.
Answers
Insurance companies collect and hold a customer's premiums and pay claims from that money in the event that the customer has a loss.
What is insurance?Insurance involves securing an item against accident or any damages.
An individual can insure properties such as Land, building or Life by paying certain amount of money which serves a premium.
Therefore, insurance companies collect and hold a customer's premiums and pay claims from that money in the event that the customer has a loss.
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Intermediaries who link buyers and sellers by buying and selling securities at stated prices are called?
Answers
Intermediaries who link buyers and sellers by buying and selling securities at stated prices are called brokers.
A broker acts as a middleman between buyers and sellers in the financial markets. They facilitate the purchase and sale of securities such as stocks, bonds, and derivatives. Brokers typically work for brokerage firms or investment banks.
When a buyer wants to purchase a security, they contact a broker who will find a seller willing to sell at the stated price. The broker then executes the transaction on behalf of the buyer, charging a commission fee for their services.
Similarly, when a seller wants to sell a security, they reach out to a broker who will find a buyer willing to buy at the stated price.
Brokers play a crucial role in providing liquidity to the markets and ensuring efficient trading. They use their expertise and market knowledge to match buyers and sellers, execute trades, and ensure fair pricing.
Brokers also provide valuable advice and assistance to investors, helping them make informed decisions when buying or selling securities.
In summary, intermediaries who link buyers and sellers by buying and selling securities at stated prices are known as brokers.
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3. What could be done for the ratio(s) that were not favorable to the nursery that you chose? (5 pts)
Answers
The science and practice of nursery management can be improved by choosing the right use of soil, fertilizers, nutrients and supply of clean water.
What is nutrient management?Nutrient management is the process of matching a particular crop management conditions, field soil, and climate condition to the 4R nutrients.
The 4R nutrients are
RatePlaceSourceTimingHow to improve the unfavourable ratio?
To answer this question, we make use of soil and nutrients management as a ratio to improve the nursery.
It follows that using the right soil in planting a particular type of crops helps to reduce some negative result or unfavourable condition which stands to impede economic growth.
The correct use and adequate supply of fertilizers can help to provide a favourable condition in the nursery.
In nursery production, employing clean water can go a very way to help improve the quality of these nursery lives and management as contaminated water reduces the productivity of the nursery.
In conclusion, we can now confirm that when we introduce the right measures in the nursery practice such as soil and nutrients management, it can help improve the ratios of the nursery.
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Complete question:
What could be done to improve the practice of nursery management that you chose
Insurance: An insurance company sells a 1 -year term life insurance policy to an 83 -year-old woman. The woman pays a premium of $4000. If she dies within 1 year, the company will pay $90,000 to her beneficiary. According to the U.S. Centers for Disease Control and Prevention, the probability that an 83 -year-old Noman will be ative 1 year later is 0,9561 . Let X be the profit made by the insurance company. Part: 0/2 Part 1 of 2 (a) Find the probability distribution, The probability distribution is
Answers
Given,An insurance company sells a 1-year term life insurance policy to an 83-year-old woman. The woman pays a premium of $4000. If she dies within 1 year, the company will pay $90,000 to her beneficiary. Let X be the profit made by the insurance company.
The profit made by the insurance company X is equal to the difference between the premium collected and the payout made.Profit (X) = Payout - Premium collectedNow, we need to find the probability distribution of profit made by the insurance company in one year, which is a random variable, given that the probability that an 83-year-old woman will be alive after one year is 0.9561.Let us calculate the probability of the woman's death in one year.
The probability of the woman's death in one year is given by:P(death in one year) = 1 - P(survival in one year)= 1 - 0.9561= 0.0439Using the probability of the woman's death, we can construct the following probability distribution table for profit: Where, if the woman dies, the profit of the insurance company will be $86,000. And if the woman survives, the profit of the insurance company will be -$4000.Profit X Probability$86,000 0.0439-$4,000 0.9561Thus, the probability distribution of profit made by the insurance company is as follows:Probability distribution of profit:Profit X Probability$86,000 0.0439-$4,000 0.9561Therefore, the probability distribution is:Profit X Probability$86,000 0.0439-$4,000 0.9561
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Explain an Argument In the section "Consequences of Ending Rent Control," you read that most economists argue that the benefits of ending rent control exceed the costs. Do you agree? Why or why not?
Answers
Answer:
Disagree Option
Explanation:
Setting prices ceilings on rent can cause the balance in supply and demand to fall short of each other. For example, let's say the equilibrium for supply and demand was 5 apartments for $100 a month and that the supply at $100 was 5 apartments. If you created a price ceiling at $90, this would cause a greater demand but less of a supply generating an apartment shortage.
Which characteristic gives the term preference shareholder its distinct name?
Preferred shareholder gets its name from its unique feature that shareholders of such shares are given first preference in terms of payment in case the business_____.
Answers
Answer: dividends
Explanation:
Dividends are not liability of the firm. The preferred dividends are differed. The dividends and preferred dividends must be paid to the individual stakeholders so that equal share share can reach out to the individual owner before the common shareholders can receive any monetary gain. Dividends are the taxes that are not included in the business expenses but it is included as corporate tax. The dividends by the shareholders are included with the tax.
Answer:
shuts down
Explanation:
PLZ HELP ME!!!!!!
Which statement about credit card interest rates is TRUE?
A.) The more money you spend on purchases, the higher your interest rate will be
B.) A high interest rate means you'll pay MORE money total
C.) A high interst rate means you'll pay LESS money total
D.) Most credit cards do not charge any interest rate
Answers
Answer:
I think its A?
Explanation: