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 180 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
Wow, this really help

xthemafja

  • Member
  • Posts: 348
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

In the United States, there is a birth every 8 seconds, according to the U.S. Census Bureau's Population Clock.

Did you know?

Many supplement containers do not even contain what their labels say. There are many documented reports of products containing much less, or more, that what is listed on their labels. They may also contain undisclosed prescription drugs and even contaminants.

Did you know?

Everyone has one nostril that is larger than the other.

Did you know?

To maintain good kidney function, you should drink at least 3 quarts of water daily. Water dilutes urine and helps prevent concentrations of salts and minerals that can lead to kidney stone formation. Chronic dehydration is a major contributor to the development of kidney stones.

Did you know?

Although puberty usually occurs in the early teenage years, the world's youngest parents were two Chinese children who had their first baby when they were 8 and 9 years of age.

The human birth process as an example of positive feedback. The human birth process as an example of positive feedback.
Nonverbal communications convey strong, powerful messages that may be negative or positive. Nonverbal communications convey strong, powerful messages that may be negative or positive.
Number of positive, negative, and neutral images recalled by younger, middle-age, and older adults. ... Number of positive, negative, and neutral images recalled by younger, middle-age, and older adults. ...
A spark plug thread chaser is a low-cost tool that hopefully will not be used often, but is ... A spark plug thread chaser is a low-cost tool that hopefully will not be used often, but is ...
Positive ring precipitin test. Positive ring precipitin test.
question in cost accounting question in cost accounting
Video: Hormones and the menstrual cycle Animation

For a complete list of videos, visit our video library