« previous next »

Author Question: When is a price ceiling ineffective? What will be an ideal ... (Read 17 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?

More than 2,500 barbiturates have been synthesized. At the height of their popularity, about 50 were marketed for human use.

Did you know?

The liver is the only organ that has the ability to regenerate itself after certain types of damage. As much as 25% of the liver can be removed, and it will still regenerate back to its original shape and size. However, the liver cannot regenerate after severe damage caused by alcohol.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates’s recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

A recent study has found that following a diet rich in berries may slow down the aging process of the brain. This diet apparently helps to keep dopamine levels much higher than are seen in normal individuals who do not eat berries as a regular part of their diet as they enter their later 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.

The Number of Children Americans Think Are Ideal The Number of Children Americans Think Are Ideal
Real Price of Oil, 1861–2010 Real Price of Oil, 1861–2010
U.S. Subsurface Coal Mining: Output, Price, and Output per Worker-Hour, 1949–1994 U.S. Subsurface Coal Mining: Output, Price, and Output per Worker-Hour, 1949–1994
Under ideal conditions, a single cell of the bacterium E. coli would divide every 20 minutes to ... Under ideal conditions, a single cell of the bacterium E. coli would divide every 20 minutes to ...
The net price of an article is $79.84. What is the list price if a discount of 23% was allowed? The net price of an article is $79.84. What is the list price if a discount of 23% was allowed?
For the circuit in Figure 1, assume ideal diodes. The peak inverse voltage is approximately For the circuit in Figure 1, assume ideal diodes. The peak inverse voltage is approximately
Video: Chemical Messengers Animation

For a complete list of videos, visit our video library