This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: A positive markup is earned by a firm if its A) price exceeds its marginal cost. B) marginal ... (Read 153 times)

WWatsford

  • Hero Member
  • *****
  • Posts: 539
    • Biology Forums!
on: Jun 29, 2018
A positive markup is earned by a firm if its
 
  A) price exceeds its marginal cost.
  B) marginal revenue equals marginal cost.
  C) price equals marginal cost.
  D) price equals average total cost.

Question 2

What is a black market and how does it influence the market for rental housing if a rent ceiling creates a housing shortage? What determines the level of the black market rent?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

kmb352

  • Sr. Member
  • ****
  • Posts: 319
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

A black market is an illegal market in which the price exceeds the legally imposed price ceiling. When a rent ceiling creates a housing shortage, frustrated renters offer a rent above the legal level in order to get an apartment. The level of the black market rent depends on how tightly the rent ceiling is enforced. With loose enforcement, the black market rent is close to the unregulated rent. With strict enforcement, it is close to the maximum price that renters are willing to pay given the rent-ceiling quantity of housing supplied.


WWatsford

  • Member
  • Posts: 539
Reply 2 on: Jun 29, 2018
Excellent

Dinolord

  • Member
  • Posts: 313
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

The Babylonians wrote numbers in a system that used 60 as the base value rather than the number 10. They did not have a symbol for "zero."

Did you know?

Blood in the urine can be a sign of a kidney stone, glomerulonephritis, or other kidney problems.

Did you know?

According to animal studies, the typical American diet is damaging to the liver and may result in allergies, low energy, digestive problems, and a lack of ability to detoxify harmful substances.

Did you know?

Approximately 15–25% of recognized pregnancies end in miscarriage. However, many miscarriages often occur before a woman even knows she is pregnant.

Did you know?

Limit intake of red meat and dairy products made with whole milk. Choose skim milk, low-fat or fat-free dairy products. Limit fried food. Use healthy oils when cooking.

(A) Scratch test; patient is exposed to allergens through a light scratch on the skin; (B) Positive (A) Scratch test; patient is exposed to allergens through a light scratch on the skin; (B) Positive
Gram Positive Testing Gram Positive Testing
Positive and Negative Stereotypes Positive and Negative Stereotypes
One-handed kneading. Tissues are lifted with the whole hand in firm contact. One-handed kneading. Tissues are lifted with the whole hand in firm contact.
Infant formula is available in several forms and varies in cost and ingredients Infant formula is available in several forms and varies in cost and ingredients
Positive and Negative Reinforcement Positive and Negative Reinforcement
Video: Mechanism of enzyme action

For a complete list of videos, visit our video library