« previous next »

Author Question: When is a price ceiling ineffective? What will be an ideal ... (Read 44 times)

rmenurse

  • Hero Member
  • *****
  • Posts: 513
on: Jun 29, 2018
When is a price ceiling ineffective?
 
  What will be an ideal response?

Question 2

People who run their own businesses
 
  A) can keep their labor costs down by not hiring any employees.
  B) have lower labor costs if they dislike working for anyone else than if they don't mind working for others.
  C) have no labor costs unless the business is incorporated.
  D) have the same labor costs as people who hire employees to run their businesses.


DHRUVSHAH

  • Sr. Member
  • ****
  • Posts: 317
Reply #1 on: Jun 29, 2018
Answer to Question 1

A price ceiling is ineffective when the market price of the good lies below the price ceiling.

Answer to Question 2

B


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Patients who have undergone chemotherapy for the treatment of cancer often complain of a lack of mental focus; memory loss; and a general diminution in abilities such as multitasking, attention span, and general mental agility.

Did you know?

Chronic marijuana use can damage the white blood cells and reduce the immune system's ability to respond to disease by as much as 40%. Without a strong immune system, the body is vulnerable to all kinds of degenerative and infectious diseases.

Did you know?

More than 50% of American adults have oral herpes, which is commonly known as "cold sores" or "fever blisters." The herpes virus can be active on the skin surface without showing any signs or causing any symptoms.

Did you know?

More than 150,000 Americans killed by cardiovascular disease are younger than the age of 65 years.

Did you know?

Less than one of every three adults with high LDL cholesterol has the condition under control. Only 48.1% with the condition are being treated for it.

Cultures Ideal Body Types Cultures Ideal Body Types
As the glass ceiling slowly cracks, women are gaining entry into the top positions of society. Shown ... As the glass ceiling slowly cracks, women are gaining entry into the top positions of society. Shown ...
How to create a price index to calculate inflation for a basket of goods How to create a price index to calculate inflation for a basket of goods
Your company advertises all prices on the menu board as a final price, including HST of 13%. A ... Your company advertises all prices on the menu board as a final price, including HST of 13%. A ...
Sonal bought a coat for $198.88, which included 8% PST and 5% GST. What was the selling price ... Sonal bought a coat for $198.88, which included 8% PST and 5% GST. What was the selling price ...
Refer to Scenario 3.1. If the price of potato chips is $0.50 and the price of Cola is $4.00, ... Refer to Scenario 3.1. If the price of potato chips is $0.50 and the price of Cola is $4.00, ...
Video: Type of Transport - Active and Passive Processes

For a complete list of videos, visit our video library