Q5 The government mandates a price floor for gasoline above the equilibrium price. Asses the following statements and illustrate your answer using the demand and supply diagram. Statement: Proponents of the law claim it will increase the income of gas station owners. Opponents claim it will hurt gas station owners because they will lose customers
Answers
Statement 1: True, as the law's price floor enables gas station owners to sell gasoline at a higher price, increasing their income. Statement 2: True, as the price floor may lead to a decrease in demand and loss of customers for gas station owners, potentially harming their business.
When a government mandates a price floor for gasoline above the equilibrium price, it means that the price cannot fall below a certain level set by the government.
Statement 1:With a price floor set above the equilibrium price, the price of gasoline will be higher than what the market would naturally determine. This would lead to an increase in the income of gas station owners, as they would be able to sell gasoline at a higher price. The price floor ensures that gas station owners receive a higher revenue per unit of gasoline sold.
Illustration: the price floor is represented by a horizontal line above the equilibrium price. The quantity supplied at this price floor will exceed the quantity demanded, creating a surplus.
Statement 2: Opponents argue that the price floor will lead to a decrease in the quantity demanded, as consumers are less willing to purchase gasoline at the higher price. This reduction in demand may result in gas station owners losing customers, which can ultimately hurt their overall business and revenue.
Illustration: At the price floor, the quantity demanded is lower than the quantity supplied, resulting in a surplus. This surplus indicates that there is excess supply that is not being consumed by customers, potentially leading to lost sales for gas station owners.
In summary, while proponents argue that a price floor for gasoline will increase the income of gas station owners, opponents suggest that it may hurt gas station owners by reducing customer demand. The impact of a price floor on gas station owners depends on the elasticity of demand for gasoline and the extent to which consumers are willing to pay the higher price.
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Related Questions
What does indigenous technology mean?
Answers
Answer: I hope this is helpful mark brainlist if right then no if wrong
Explanation:
Indigenous technology is used by the native inhabitants of a country or region and it constitutes an important part of its cultural heritage. Characteristically, indigenous technologies: Are recognized as animate, imbued with the breath of life and they live in form and function.Technologies employed by the native inhabitants of a country and which constitute an important part of its cultural heritage and should therefore be protected against exploitation by industrialized countries; the problem of indigenous knowledge has been discussed during the Rio Conference but it does not receive much ...Types of indigenous technology in India are; (i) Generic Drugs. (ii) Thorium based Nuclear Reactors. (iii) Plastic RoadsIndigenous Technology is created within a sensory environment that builds on our sense of relationship, meaning, balance, feeling, memory and place as well as sight, sound, smell, taste and touchIndigenization is the process by which Indigenous ways of knowing, being, doing and relating are incorporated into educational, organizational, cultural and social structures of the institution.One example of Indigenous Technologies in action today can be witnessed in differential approaches to medicine. Medical technologies in the Western Scientific sense of the term might conjure images of biomedical research labs, electromagnetic monitors or imaging systems such as CT or MRI scans.Indigenous technology is used by the native inhabitants of a country or region and it constitutes an important part of its cultural heritage. Characteristically, indigenous technologies: Are recognized as animate, imbued with the breath of life and they live in form and function.
hellp! WILL GIVE 30 POINTS!!
Alexis and Damian are both taking a course on picking a career. They go to the same art club so they both know what they enjoy doing. Surprisingly, Alexis and Damian might find careers in the Architecture and Construction Career Cluster that allow them to express themselves through art. Create a list of possible jobs in this cluster that could use an artistic person and explain a task that each job does that the two students might particularly enjoy.
*Dont answer for points, cuz I've gotten scames so many times :/
Answers
Answer:
A few jobs that express how you feel through art are house remodeling because you can decorate with things that make you happy or that show how you feel, professional painter because you can paint how you feel, and a gardener because you make the garden look like something that expresses how you feel.
Explanation:
Hope this helps! Just make sure to edit it a little so that you don't get in trouble! :)
(d) State how the double entry would be completed for the items recorded in the ledger accounts
column of the petty cash book.
Answers
The general ledger's expense account is debited for the sum of each expense column.
How does a general ledger work?An organization employs a general ledger, which is a group of numbered accounts, to record its financial activities and generate financial reports. A unique record detailing a particular kind of asset, risk, equity, revenue, or expense makes up each account.
Which five categories of accounts for general ledgers are there?Accounts receivable, a commodity account, represents money owed to your business. Accounts payable refers to money that your business owes to creditors for expenses. Cash: Easily convertible assets held by your company, such as accounts and owner' equity.
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The university is planning to add a new under graduate major in business. What are the considerations that it should account for in order to calculate the revenue and cash flow from the new major?
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When calculating the revenue and cash flow from a new undergraduate major in business, the university should consider the following key considerations:
Tuition and Fees: Determine the tuition fees that will be charged to students enrolled in the new major. Consider whether the tuition will be the same as existing majors or if there will be any variations based on factors like course offerings, resources required, or market demand.
Enrollment Projections: Estimate the number of students expected to enroll in the new major. Consider factors such as market demand, competition from other universities, and the attractiveness of the program to prospective students.
Operating Costs: Identify the costs associated with running the new major. This includes faculty salaries, staff salaries, administrative expenses, classroom and laboratory resources, technology and equipment, curriculum development, and any additional support services required.
Marketing and Promotion: Allocate resources for marketing and promoting the new major to attract potential students. Consider the cost of advertising, recruitment events, campus visits, and other promotional activities.
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S.
Economics
Explain the term "Budget"
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What is marketing research and what are the steps involved in marketing research? Please remember, it is not enough to only name the various components. Please also provide a description that gives the reader a clear idea of what each term means.
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Marketing research is a process of systematic gathering and interpreting information and data about customers, market trends, and competition to aid in making informed business decisions.
The steps involved in marketing research include:
1,Defining the problem or opportunity
2.Creating a research design
3.Data collection
4.Data analysis
5.Interpretation and reporting
Defining the problem or opportunity: In this stage, the researcher identifies the main problem or opportunity they wish to address. The purpose of the research is then determined and made specific, so that the researcher knows exactly what they are investigating.
Creating a research design: This stage involves developing a plan or blueprint for conducting the research. It includes selecting a research method and designing the sample, questionnaire, and data collection process.
Data collection: This stage involves the actual collection of data using the research design developed. Data can be collected using different methods, including surveys, interviews, observations, and experiments.
Data analysis: This stage involves analyzing the collected data using statistical tools and techniques to generate meaningful insights. Researchers use graphs, charts, and tables to visually display and explain the data findings.
Interpretation and reporting: In this stage, researchers interpret the data and present the findings in a meaningful way. They make recommendations to stakeholders based on the data analysis, which can help in decision-making for the business or organization that commissioned the research.
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write names of any four equipment that uses modern technology
Answers
Answer:
routers
Internet modems
desktop or notebook computers
servers
headsets
The four pieces of equipment that use modern technologies are an Internet modem, a Router, an internet switch, An Uninterruptable Power Supply (UPS)
Internet modem
The term "modem" is misleading because it dates back to the time when a digital signal was required to be modulated before being sent over an analog phone line and demodulated upon arrival.
However, every firm needs a link between an Internet Service Provider (ISP) and an office network.
Router
Every device on a network may receive a different IP address from a router. This is necessary for features like shared printing and scanning.
Anyone with the necessary credentials can connect securely to network devices from home or while on the go by setting up a virtual private network (VPN) on a router.
An Internet switch
Physical ports on routers are often few. Fortunately, a switch may be used to connect a router. Switches can have up to 48 ports. Stacking switches is another option. Therefore, each VoIP phone in your office that has, let's say, 24 lines will require a port (although a VoIP phone and a computer can be daisy-chained to a single switch port).
An Uninterruptable Power Supply (UPS)
A few hundred dollars to many thousands of dollars can be spent on a UPS, and companies like CyberPower provide a variety of products in this price range.
Low-end UPSs can run modems, routers, and switches for a few hours during a power outage because they consume little power. Employees with fully charged laptops can keep working.
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what assumptions did supply-side economics depend on in order to work properly?
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Supply-side economics depends on several assumptions to work properly. These include:
Tax cuts: Reducing tax rates, especially for businesses and high-income individuals, to incentivize investment and entrepreneurship.
Advocating for reduced government regulations to enhance business flexibility and encourage innovation.
Market efficiency: Assuming that markets are efficient and will allocate resources optimally without significant government intervention.
Laffer curve: Believing that cutting tax rates can potentially increase tax revenue by stimulating economic growth.
Incentives and productivity: Assuming that lower taxes and fewer regulations motivate individuals and businesses to work harder, innovate, and increase productivity.
Supply-side economics is an economic theory that emphasizes boosting the supply of goods and services as a means of promoting economic growth. The assumptions it relies on are as follows:
1. Tax cuts: Supply-side economists argue that lowering tax rates, particularly for businesses and high-income individuals, will free up capital for investment, encourage entrepreneurial activity, and stimulate economic growth. The belief is that reduced taxes provide individuals and businesses with greater incentives to work, save, and invest.
2. Less regulation: Supply-side economics advocates for limited government regulation and intervention in the economy . The theory suggests that excessive regulations stifle business activity, hinder innovation, and impede economic growth. By reducing regulations, it is believed that businesses will have more flexibility to operate and innovate, leading to increased productivity and economic expansion.
3. Market efficiency: Supply-side economists assume that markets are efficient and will allocate resources optimally without substantial government intervention. They argue that supply and demand dynamics, when left to operate freely, will result in efficient resource allocation, price discovery, and overall economic efficiency.
4. Laffer curve: The Laffer curve is a central concept in supply-side economics. It suggests that there is an optimal tax rate that maximizes government revenue. According to this theory, cutting tax rates can potentially boost economic activity, resulting in increased taxable income and overall tax revenue. The assumption is that lower tax rates create incentives for individuals and businesses to engage in productive economic activities, leading to higher tax collections.
5. Incentives and productivity: Supply-side economics assumes that lower taxes and fewer regulations provide individuals and businesses with stronger incentives to work harder, innovate, and increase productivity. The theory posits that by reducing the tax burden and regulatory burden, individuals and businesses will have more resources and freedom to pursue productive activities, which in turn spurs economic growth.
It's important to note that while supply-side economics has its proponents, it is not without criticism. Critics argue that the theory can lead to income inequality, exacerbate budget deficits, and fail to address the needs of disadvantaged groups. The effectiveness of supply-side policies in achieving sustainable and equitable economic growth remains a subject of debate among economists.
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4941551496 p.a.ssw.ord yaP2D2
CO.ME FA.ST ON ZO.O.M
Answers
Answer:
WHY FAST?
Explanation:
During which part of the Product Life Cycle would a company use a profit-oriented pricing strategy?
Answers
The lifespan of a product depicts how long it remains on the market, from the moment it is first introduced to consumers until it is phased out and taken off the shelves.
What is the maturity stage of the product life cycle?Sales declined during the mature period, a sign that the market has started to become saturated. During this phase of the product life cycle, the price also starts to become competitive. The profit margins become slimmer as a result.
In most life-cycle situations, profits normally reach their greatest level during the early growth stages, but sales often reach their peak during the mature stages.
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when queries are saved and run again at a later date one advantage is that the query uses the most information
A. Complex
B. basic
C. historical
D. current
Answers
Answer: current
Explanation: took the quiz
Complex queries occur when queries are saved and run again at a later date one advantage is that the query uses the most information.
What is a complex query?It is a type of query that involves an individual using more than one search tools. It can be used to better understand multiple query by further breaking them into bits.
Therefore, Complex queries occur when queries are saved and run again at a later date one advantage is that the query uses the most information.
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a copy company wants to expand production. it currently has 20 workers who share eight copiers. two months ago, the firm added two copiers, and output increased by 40,000 pages per day. one month ago, the firm added five workers, and productivity also increased by 25,000 pages per day. a copier costs about three times as much as a worker. assume these
Question: A Copy Company Wants To Expand Production. It Currently Has 20 Workers Who Share Eight Copiers. Two Months Ago, The Firm Added Two Copiers, And Output Increased By 40,000 Pages Per Day. One Month Ago, The Firm Added Five Workers, And Productivity Also Increased By 25,000 Pages Per Day. A Copier Costs About Three Times As Much As A Worker. Assume These
Hire another worker or purchase a new printer?
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A copy company wants to expand production. It currently has 20 workers who share eight copiers. Two months ago, the firm added two copiers, and output increased by 40,000 pages per day. One month ago, the firm added five workers, and productivity also increased by 25,000 pages per day. A copier costs about three times as much as a worker. Assume these increases in productivity per worker and productivity per copier are good proxies for future increases in productivity when hiring additional workers or purchasing additional copiers. Based on this information, the copy company should hire another worker in order to expand output.
Answers
Based on the information provided, the copy company should hire another worker to expand output.
This conclusion is based on the fact that adding two copiers increased output by 40,000 pages per day, while adding five workers increased productivity by 25,000 pages per day.
Since the cost of a copier is about three times the cost of a worker, it would be more cost-effective to hire another worker rather than purchasing a new copier. By doing so, the company can further increase its output and productivity.
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Which of the following leadership theories offers answers about whether there is an optimism way for leaders to adjust their behaviors with different followers in which factors should the leader base his behavior on?
Answers
Answer:
path-goal theory
Explanation:
The path-goal theory is one that gives the leader the possibility to adapt his behavior according to individual and collective needs in the work environment. This theory aims to ensure that the leader recognizes the needs of each employee and indicates the path necessary to achieve the objectives and goals of the organization.
This model aims to achieve greater motivation and productivity with a leadership model based on the fulfillment of the employee's individual expectations in relation to their work.
how do basic level occupation help society
Answers
Answer:
A job, employment, work or occupation, is a person's role in society. More specifically, a job is an activity, often regular and often performed in exchange for payment ("for a living"). Many people have multiple jobs (e.g., parent, homemaker, and employee). A person can begin a job by becoming an employee, volunteering, starting a business, or becoming a parent. The duration of a job may range from temporary (e.g., hourly odd jobs) to a lifetime (e.g., judges).
Basic level occupation can help our society in many ways. One of them is agricultural. A further explanation is provided below.
Agriculture would be essential employment across the globe even though it's the foundation or the core of all certain vocations, even though people must live.Otherwise, there'll be no significant population for any other activity, resulting in highly impoverished as well as uneducated people throughout the planet."
There are many jobs that a person can do like employee, homemaker, etc. A person can start his career with such jobs.
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In the strategy-making, strategy-executing process, effective corporate governance requires a company's board of directors to?
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In the strategy-making, strategy-executing process, effective corporate governance requires a company's board of directors to oversee the corporative strategy, functional strategy, business level strategy.
Strategy is defined ad long range of blueprint which provides direction, destination for the fulfilment of the goals and objectives.
It is formulated by the top management members and designed to achieve long term goals.
Success of the company depends upon the competence and character of the management.
Strategy defines the vision , mission , objective of the company.
Once the strategy formulated does not means the work is over , but it has to be timely reviewed that everything is going as per it or not . If any deviation take place , corrective actions should be taken because strategy can never be perfect and flawless.
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Ayman has a credit card with a balance of $4750 CAD and an annual interest of 21.5% compounded
monthly. He plans on paying off the loan completely in two years using monthly payments. What is the
total amount of interest he will pay once the card is paid off?
#1 $128.03
#2 $1136.00
#3 $4878.03
#4 $5886.00
Answers
Explain the importance of leisure activities.
Answers
Answer:
leisure activities improve the productivity of people
Explanation:
if you feel stressed and then go to a water park, you will get less stressed right?
List the basic elements of business plan
Answers
Answer:
Company Description
Market Analysis
Competitive Analysis
Marketing Plan
Sales Strategy
Explanation:
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Products are invented and revised by which department? Marketing Production Research and Development Finance
Answers
Answer:
Research and Development
Explanation:
Research and Development department is responsible for the new product development and any kind of modifications in the products. This department is responsible for investigation done by the organisation to improve the existing products and developing of new related products. Nowadays companies are more amounts for Research and Development, then only the organisation can survive in the market. The department aims to make new ideas, information and technology that improves the products effectiveness.
what is the law of demand and supply
Answers
Answer:The law of supply and demand is a theory that explains the interaction between the sellers of a resource and the buyers for that resource. The theory defines what effect the relationship between the availability of a particular product and the desire (or demand) for that product has on its price.
Explanation:
a disadvantage of the corporate form of organization is that corporate stockholders are more exposed to personal liabilities in the event of bankruptcy than are investors in a typical partnership. group of answer choices true false
Answers
The statement "a disadvantage of the corporate form of organization is that corporate stockholders are more exposed to personal liabilities in the event of bankruptcy than are investors in a typical partnership." is false. It is because the corporation is make an easier for the firm to raise capital.
In the term of economic and business, A corporation generally can be defined as a business entity that is owned by its shareholder. The director of corporation is elected by shareholder to oversee the organization's activities. The corporation has an advantage where make an easier for the firm to raise capital. The corporation's stockholders are not subject to personal liabilities if the firm goes bankrupt and also because it is easier to transfer shares of stock than partnership interests.
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Which of the following strategies has most aided the nesting success of the piping plovers at Old Orchard Beach?
(A) Moving the fireworks farther away from the nests
(B) Implementation of regulations on fireworks displays on beaches during the holidays
(C) An increase in educational outreach to beachgoers
(D) Implementation of additional taxes on firework purchases
Answers
The strategy that has most aided the nesting success of piping plovers at Old Orchard Beach is (A) moving the fireworks farther away from the nests.
By moving the fireworks displays farther away from the nesting areas, the birds are less likely to be disturbed and abandon their nests. This strategy has been shown to be effective in protecting the piping plover populations at Old Orchard Beach and has resulted in increased nesting success rates. While the implementation of regulations on fireworks displays (B) and educational outreach to beachgoers (C) have also been helpful in protecting the birds, moving the fireworks displays away from the nesting areas has been the most effective strategy. There is no evidence to suggest that implementation of additional taxes on firework purchases (D) has played a role in aiding the nesting success of piping plovers at Old Orchard Beach.
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A bookstore costs $90 a day to keep open, and spends $12 for each book it sells. The store charges $18 for each book it sells. If n represents the number of books sold, which equation represents the cost function for this bookstore?
O A. C = 90n + 15
O B. C = 12n + 90
O C. C = 18n + 90
O D. C = 90n + 12
Answers
Answer:
The correct answer is B just got it right on ape
Explanation:
Jem wants to make sure the gaming system she wants to buy includes
access to live events. What should Jem do to ensure she makes an informed
buying decision?
O A. Jem should consult friends on social media.
O B. Jem should review warranties and return policies.
O C. Jem should make the purchase with confidence.
O D. Jem should read the product description carefully.
Answers
Answer:
D. Jem should read the product description carefully.
Explanation:
Who did the Lakers beat today?
Answers
Answer:
nobody cuz they suc
Explanation:
Answer:
THE LAKERS BEAT TRUMP BECAUSE TRUMP IS A LOSER
Explanation:
Determine your company's mode of entry into foreign markets. This should be based upon a serious analysis of your company's risk-return tradeoff. In your opinion, has your company taken the right approach
Answers
Every international business was nearly startled as a regional business and over time has espoused different modes of Entrance into the foreign business.
Different modes of entry into transnational business are grounded on the size of your business, your expansion strategies, the implicit size, the demand of your elected transnational request, the profitability, and the business terrain of the overseas country.
When businesses promote success within their domestic markets, they strive to expand their businesses into multinational markets, in a crack to imitate its blockbuster in overseas markets. Similarly, the company that I presently work for is trying to break into the middle- east with commodities that we aren't implicit of whether it'll bring about well there or not.
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When there is no room for growth within a company, an employee cannot __________. a. Be promoted to new positions horizontally b. Find other jobs from a new employer c. Be considered for salary increases d. Be promoted vertically to new positions Please select the best answer from the choices provided A B C D
Answers
Answer:
The answer is B.Find other jobs from a new employer.
Answer:
B.
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Explanation:
Describe the resources you plan to use or provide to ensure the beneficiary has adequate financial support to cover their basic living needs.
Answers
The resources that one can use to plan to ensure the beneficiary has adequate financial support to cover their basic living needs.
The person's full legal name.The person's relationship to you. Mailing address, email, phone number.The date of birth and Social Security number.Who Are the Beneficiaries?A beneficiary is a person (or entity) named to receive the advantages of property that belongs to another person. These benefits are frequently given to beneficiaries as a part of an inheritance.
It's crucial to name beneficiaries for your financial assets so that you can rest easy knowing that the people you've determined should get your money are guaranteed to do so. You can control what happens to your money and make the situation clear for everyone who might be affected by naming beneficiaries.
Note that there is no question as to where you want your money or insurance proceeds to go if you have a current beneficiary listed on all of your accounts. It reduces time (and maybe money).
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John has $10,000 in debt with discover, $4,000 in debt with chase, $9,000 in debt with citi bank, and $3,000 in debt with wells fargo, giving him a total debt of $26,000. what percentage of john's total debt is with discover
Answers
The percentage of John's debts with discover is \(38.46%\), by using percentage calculation.
Given,
John's total debt:
$10,000 with discover$4,000 with chase $9,000 with Citi bank$3,000 with wells FargoTotal debt of John is $26,000, to calculate his Percentage of debt with discover, we need to add all the debts and then calculate how much percentage is 10,000 of 26000.
Calculation is as follows:
\(10000/26000*100=38.46\)
Hence, The percentage of John's debts with discover is \(38.46%\)\(%\), by using percentage calculation.
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the suggestion of utilizing venture capitalists, loans, or self-funding are all options to help alleviate wich challenge of entrepreneurship
Answers
The suggestion of utilizing venture capitalists, loans, or self-funding are all options to help alleviate the challenge of managing people.
What is entrepreneurship?The entrepreneurship serves the activity that involves the setting up of a business or businesses, by taking the financial risks in the hope of profit.
Therefore, suggestion of utilizing venture capitalists, loans, or self-funding are all options to help alleviate the challenge of managing people.
In this case, as an entrepreneur, one should able to have the mind to bear the risk as well as make the good decision that is need for the success of the business, examples of entrepreneur are; Mark Zuckerberg, Bill Gate and others.
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