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1. Why does rent control result in a shortage of rental units.
2. How does price elasticity of demand affect how much of a tax is passed on to the consumer and how much is absorbed by the seller. Illustrate the effect with graphs.
3. Why can monopolistic firms create economic profit in the short run bot not in the long run. Illustrate and show graphically.
4. Your brother-in-law wants to borrow $1000 from you but he has a fit when you tell him he will have to pay you the similar interest on the loan that the bank gives you. Are you justified?
5. During the 1930s Jewish fighters dominated boxing. From the around 1975 until the present, blacks have dominated basketball. Illustrate the cause(s) underlying these two situations.
list and discus the problem encountered in adopting profit as a yardstick in measuring performance
The use of standard costs can present a number of potential problems or disadvantages. Most of these problems result from improper use of standard costs and the management by excep
Brandywine Homecare, a not-for-profit business, had revenues of $12 million in 2011. Expenses other than depreciation totaled 75 percent of revenues, and depreciation expense was $
Encik Farid, a sole trader, started his business on 1 May 2010 under the name Farid Enterprise. The following are his business transactions for the month of May a. Encik Farid b
examples of industries using this method
Comparison between Marginal Costing and Absorption Costing There are accountants who favour all costing method. Arguments in favour about absorption costing are specified a
Chester & Wayne is a regional food distribution company. Mr. Chester, CEO, has asked your assistance in preparing cash-flow information for the last three months of this year. Sele
Standard Cost and Standard Costing To effectively control the costs of a certain organization, we require a yard stick to measure the real performance against. Traditionally,
Automotive Products (AP) designs, manufactures, and sells automotive parts. It has 3 main operating departments: design, engineering, and production. 1.Design ñ the
Bases of Cost Classification These various bases of cost classification are summarized in the diagram underneath as: Here, we will usually refer to either of these ter
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