BUSINESS HIGH SCHOOL

An example of a binding price ceiling is: a. a minimum wage law that is set above the equilibrium price. b. a minimum wage law that is set below the equilibrium price. c. rent control that is set above the equilibrium price. d. a black market that sets the price below the equilibrium price. e. rent control that is set below the equilibrium price.

Answers

Answer 1
Answer:

Answer:

e. rent control that is set below the equilibrium price.

Explanation:

The law binds, ties, it forces the market to make trnasaction on this price.

The owners of the houses and building for rent would rent at a higher price than the stablished by the goverment.

This control force them to ggive a lower rent than they think is the right one for granting the right of use of his property.

As the housing market demand is quite inelastic and people need a place to live they cannot respond to price increase  with a lower house demand. At most, they can move to low-income zone when the rent is more affordable.

The government is doing this control with the idea of ensure the families well-being to don't pay exorbitant prices in the housing market

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Mike and Molly really like their financial institution. They are part-owners of the institution and appreciate the great customer service every time they speak with a representative about their financial needs, especially in their share account. They also enjoy the membership that they have at their financial institution. What financial institution have they chosen

Answers

Answer: Credit Union

Explanation:

Mike and Molly are making use of a credit union type of financial institution.

A credit union type of financial institution makes use of money of joint members deposited to give loans to members within the same group. The money they credit to members within the group is the money that would have been profit to other group members. So, instead of taking their profit home individually, they are given out on loan to members within the group. The purpose of this credit loan type of financial institution is to encourage members to save and to easily access loans.

when the price movie tickets increases from $15 to $25, the quantity of movie tickets sold decreases from 30 to 20. calculate the absolute value of the price elasticity of demand using this information.

Answers

The absolute value of the price elasticity of demand is 0.5.

Price elasticity of demand is a measure of the change in demand for a commodity in response to a change in price. When the price of movie tickets rises from $15 to $25, the quantity of movie tickets sold decreases from 30 to 20.Using this information, we can calculate the absolute value of the price elasticity of demand as follows:

Absolute value of the price elasticity of demand=Percentage change in quantity demanded/Percentage change in price. To calculate the percentage change in quantity demanded, we use the following formula:

Percentage change in quantity demanded

=((new quantity demanded - old quantity demanded)/old quantity demanded) x 100

Percent change in quantity demanded=((20-30)/30) x 100Percent change in quantity demanded=-33.33%

To calculate the percentage change in price, we use the following formula: Percentage change in price

=((new price - old price)/old price) x 100

Percent change in price=((25-15)/15) x 100

Percent change in price=66.67%

Now we can substitute these values into the formula for the absolute value of the price elasticity of demand.

Absolute value of the price elasticity of demand=Percentage change in quantity demanded/Percentage change in price

Absolute value of the price elasticity of demand=|-33.33/66.67|. Absolute value of the price elasticity of demand=0.5.

To know more price elasticity of demand, refer here:

brainly.com/question/30465432#

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Russ is the project manager of a multinational team with members in Ireland, Malaysia, and the United States. Once a week, the team meets using video and audio links on their computers so that they can see, hear and talk with one another. What technology does this best describe?

Answers

Answer:

Videoconferencing.

Explanation:

The video conferencing is the technology that helps more than two persons to interact with each other on call due to the use of telecommunication advancements and using the 3G or 4G internet surfing. The technology that enabled the project manager of multinational team interact with all of the team members at the same time is videoconferencing.

Symmetric information is the same as perfect information. a) holds under the assumption of rational expectations.
b) is true only in efficient markets.
c) means that savers and borrowers have the same information.

Answers

Answer:

The correct option is (C)

Explanation:

The information is a critical aspect of any financial market. Transparency is all about having everybody the same information. The symmetric information is all about transparency and having the same information. It means that borrower's and savers have the same information. It helps to stop misconduct and inside trading. The symmetric information helps borrowers and savers to trust the market and invest.

If someone believe that it is never ethical to eat meat, then they believe that right and wrong is defined by ______.

Answers

If someone believe that is never ethical to eat meat, they believe that right or wrong is defined by personal belief/prejudice

They didn't use god and religion as their right and wrong guidebook, and they also don't use concrete facts as for why is it wrong for human to eat animal unless "because they also have feelings" argument

Which strategy is most likely to improve most people's financial situation over a lifetime?A.using a credit to spend more than a person.
B.making financial decisions quickly based on intuition.
C.saving early in life when a person begins earning an income.
D.Gaining work experience early instead of continuing in school.

Answers

The right answer for the question that is being asked and shown above is that: "C.saving early in life when a person begins earning an income." The strategy that is most likely to improve most people's financial situation over a lifetime is that saving early in life when a person begins earning an income.
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