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 201 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
Great answer, keep it coming :)

adf223

  • Member
  • Posts: 304
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

The immune system needs 9.5 hours of sleep in total darkness to recharge completely.

Did you know?

It is difficult to obtain enough calcium without consuming milk or other dairy foods.

Did you know?

IgA antibodies protect body surfaces exposed to outside foreign substances. IgG antibodies are found in all body fluids. IgM antibodies are the first type of antibody made in response to an infection. IgE antibody levels are often high in people with allergies. IgD antibodies are found in tissues lining the abdomen and chest.

Did you know?

A good example of polar molecules can be understood when trying to make a cake. If water and oil are required, they will not mix together. If you put them into a measuring cup, the oil will rise to the top while the water remains on the bottom.

Did you know?

The first-known contraceptive was crocodile dung, used in Egypt in 2000 BC. Condoms were also reportedly used, made of animal bladders or intestines.

Does It Cost More to Eat Healthy? Does It Cost More to Eat Healthy?
Cost Accounting: A Managerial Emphasis 16th Edition Cost Accounting: A Managerial Emphasis 16th Edition
Positive and Negative Reinforcement Positive and Negative Reinforcement
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 ...
A portfolio earned -13%, 18%, 5%, 24%, and -5% in five successive years. What was the ... A portfolio earned -13%, 18%, 5%, 24%, and -5% in five successive years. What was the ...
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: Vasectomy

For a complete list of videos, visit our video library