The mayor's decision to lower the price of taxi rides will have the effect of increasing the quantity of rides demanded, but due to the stock market crash, the overall demand will still be lower than before.
To illustrate this, we can update the demand schedule to reflect the reduction in quantity demanded by 6 million rides per year at any given price:
New Quantity Demanded:
Fare (per ride) | Quantity Demanded
$7.00 | 4
$6.50 | 5
$6.00 | 6
$5.50 | 7
$5.00 | 8
$4.50 | 9
Now, let's suppose the mayor lowers the price to $5.00 per ride. According to the new demand schedule, the quantity demanded will be 8 million rides per year, while the quantity supplied at this price remains 8 million rides as well (according to the original supply schedule). However, this is still lower than the original quantity demanded of 14 million rides per year at the price of $5.00 per ride.
To illustrate this with a diagram:
1. Draw two axes, with the vertical axis representing the fare (price) and the horizontal axis representing the quantity of rides (in millions per year).
2. Plot the original demand and supply schedules as two separate curves, with the demand curve sloping downward from left to right and the supply curve sloping upward from left to right.
3. Mark the original equilibrium point (E1) where the two curves intersect, which is at the price of $6.50 per ride and 11 million rides per year.
4. Plot the new demand schedule as another downward-sloping curve, shifted to the left of the original demand curve due to the reduction in quantity demanded by 6 million rides per year.
5. Mark the new equilibrium point (E2) where the new demand curve intersects with the original supply curve, which is at the price of $5.00 per ride and 8 million rides per year.
In conclusion, the mayor's policy of lowering the price of taxi rides will increase the quantity of rides demanded but not enough to offset the reduction in demand due to the stock market crash. The new equilibrium will be at a lower price and a lower quantity of rides compared to the original equilibrium.
For more about demanded:
https://brainly.com/question/29703449
#SPJ11
A card game is being played and the 5 of spades, 9 of spades, 10 of spades, and 10 of hearts are drawn from a single deck. In order to win, the next card the player draws from the deck must be higher than the highest card already drawn. What is the probability that the next card the player draws is a winning card? (An ace is considered to have a value of 1 and jacks, queens, and kings have a value of 10.) Hint: A deck has 52 cards, 4 suits, and each suit has A, 2, 3, 4, 5, 6, 7, 8, 9, 10, J, Q, K.
The likelihood that the following card will be higher than the previous highest card (5 of spades, 9 of spades, 10 of spades, and 10 of hearts) is 20/47, or roughly 42.55%.
How likely is it that you'll get a heart and a spade?A standard deck of cards contains 52 cards. There are 13 hearts and 13 spades. Therefore, there is a 50/50 probability of receiving a heart or a spade.
What percentage of a 52-card deck are spades?Each of the four suits—Clubs, Hearts, Diamonds, and Spades—has 13 cards, for a total of four suits. Hearts and diamonds are red; spades and clubs are both black.
To know more about probability visit:-
https://brainly.com/question/29381779
#SPJ1
which are accurate statements concerning women and leadership?
Women are highly collaborative. Women generally use a more participative style than men.
What is collaborative?Collaboration is the act of producing or making anything while working together as a team. Collaboration can occur between two individuals or many individuals, close friends or strangers.
When you collaborate, you open yourself up to the prospect of creating something better than what could be created in a silo.
A collaborative person can take criticism and make adjustments based on what others think. They may also offer people helpful criticism that helps them improve the work they're doing.
Collaboration in the workplace can take many different forms, including brainstorming, group discussions, agreement on procedures, problem-solving, and analysis of issues.
Learn more about collaboration, here
https://brainly.com/question/22358016
#SPJ1
What does a risk mean in regard to investments?
A. Uncertain outcomes
B. Certain outcomes
C. High rate of return
D. Low rate of return
E. Both A and C
regard to investments?
F. Both B and D
Every investment-related uncertainty that has the potential to have a negative influence on your financial well-being is referred to be a risk.
What are risk mean in regard to investments?
It is the possibility of losing the money invested if the security's fair price drops. Higher returns are offered by riskier securities. Market risk is a major component of the risk, but it is not the only one. Other risk categories include inflation risk, reinvestment risk, and credit risk, among others. For instance, market circumstances might influence the value of your investment to increase or decrease (market risk).
Market risk, credit risk, operational risk, strategic risk, liquidity risk, and event risk are just a few of the categories into which risks may be divided. One of the risk categories with the highest priority for every firm is financial risk. Financial risk is a result of market fluctuations, which may be influenced by a variety of causes.
Learn more about investments:
https://brainly.com/question/15353704
#SPJ1
Which is an example of a small business showing social responsibility to individuals within the company?
A. starting an office recycling program
B. developing sustainable business practice
C. donating money to local organizations
D. allowing employees to work from home
Starting an office recycling program, developing sustainable business practice and donating money to local organizations are examples of a small business showing social responsibility to individuals within the company.
Company have a social responsibility to the communities in which they operate. This includes ensuring that they are good corporate citizens, providing support for local causes and charities, and protecting the environment.
Sustainable business is a term that is often used to describe businesses that are environmentally friendly or that have a positive social impact.
Hence, the correct options are "A, B & C".
To know more about social responsibility, click here.
https://brainly.com/question/24176816
#SPJ1
Latson Pediatrics has the following balances on December 31, 2024, before any adjustment Accounts Receivable = $118,000, Allowance for Uncollectible Accounts = $2,000 (debin. On December 31, 2024 Latson estimates uncollectible accounts to be 10% of accounts receivable. Required: 1. Record the adjusting entry for uncollectible accounts on December 31, 2024 2. Determine the amount at which bad debt expense is reported in the income statement and the allowance for uncollectible accounts is reported in the balance sheet. 3. Calculate net accounts receivable reported in the balance sheet.
1. Record the adjusting entry for uncollectible accounts on December 31, 2024Latson Pediatrics has the following balances on December 31, 2024, before any adjustment Accounts Receivable = $118,000,
Allowance for Uncollectible Accounts = $2,000 (debit). On December 31, 2024, Latson estimates uncollectible accounts to be 10% of accounts receivable. The adjusting entry for uncollectible accounts on December 31, 2024, is: Bad Debt Expense = $11,600 Allowance for Uncollectible Accounts = $11,6002. Determine the amount at which bad debt expenses are reported in the income statement and the allowance for uncollectible accounts is reported in the balance sheet. Bad debt expense is reported on the income statement as an expense, and the allowance for uncollectible accounts is reported on the balance sheet as a contra asset account.
The total amount of the allowance for doubtful accounts is equal to the sum of the allowance for doubtful accounts and the uncollectible accounts receivable. Bad debt expense = $11,600 Allowance for doubtful accounts = $13,600 ($2,000 + $11,600)3. Calculate net accounts receivable reported in the balance sheet. Net accounts receivable is calculated by subtracting the allowance for doubtful accounts from the accounts receivable balance. Accounts receivable = $118,000 Allowance for doubtful accounts = $13,600Net accounts receivable = $104,400 ($118,000 - $13,600)Therefore, the net accounts receivable reported on the balance sheet will be $104,400.
To know more about Bad debt expense refer to:
https://brainly.com/question/29414667
#SPJ11
What is the opportunity cost of studying for the test in order to get a good grade?
Answer:
the opportunity cost is the time spent studying and that money to spend on something else
The time spent studying and the money that could have been used for something else are the opportunity costs.
What is opportunity cost?According to microeconomic theory, an activity's opportunity cost is the value or gain that is forfeited in exchange for engaging in that activity as opposed to engaging in an alternative activity. More precisely, it means that by choosing one course of action (such as making an investment), you are forfeiting the chance to take an other course of action. The activity that yields the highest return among all others, net of opportunity costs, is the one that is considered to be the ideal activity.
The goal of opportunity cost is to ensure efficient use of limited resources as a depiction of the relationship between scarcity and choice. It takes into account all decision-related expenses, both explicit and implicit.
Learn more about opportunity costs, from:
brainly.com/question/13036997
#SPJ2
Why is it important for a human resource manager to carefully maintain
employee records?
Answer:
Certain records require employee privacy to be protected. Not maintaining and following best practices for employee record keeping leaves you vulnerable to defending yourself against lawsuits, labor investigations or audits.
Explanation:
which of the following is true of gathering requirements and documenting business processes? group of answer choices it typically occurs after design it provides rigid guidelines and exact structure. it is an art and not an exact science. you can rely on users to give you complete requirements
The correct answer is: "It provides rigid guidelines and exact structure." Gathering requirements and documenting business processes provide rigid guidelines and exact structure.
Gathering requirements and documenting business processes is a crucial step in any project, and it involves creating a detailed plan that outlines the specific needs and goals of the project. This is important because it ensures that the project follows a clear path, making it easier to manage and execute. To ensure that everyone involved in the project is on the same page, it is important to provide rigid guidelines and an exact structure. This helps to minimize confusion and ensures that the project is completed on time and within budget. While there is an element of artistry involved in gathering requirements, it is ultimately a structured process that requires careful planning and execution.
It is important to approach this process with a clear understanding of the goals and objectives of the project, and to work closely with stakeholders to ensure that everyone's needs are met. Additionally, it helps in creating a solid foundation for the project by outlining the necessary steps and resources needed for successful completion. However, it is also an art and not an exact science, as it requires skill and adaptability to accommodate unique business needs and potential changes during the project lifecycle.
Learn more about documenting business here:
https://brainly.com/question/32103948
#SPJ11
how can you earn money faster than others
Answer:
using the barter system.
the barter system is a system that exchange 1 item to another.
this kind of technique is quite risky because sometimes you got either more or less valuable item.
but for me i prefer using the barter system.
suppose you have developed a new product for you business.outlineany five steps in developing a rematch instrument
Answer:
But I am too young to start a new business
What can a boosted post help an advertiser achieve?
A boosted post helps an adviser to connect with the audience and gain trust.
Boosted post is a kind of post that is used on social media platforms in order to enhance the page of the platform and to attract audience to the page. Boosted post can help better communication with the audience along with the increase in a greater number of messages, calls and texts. Boosted posts help for better advertisements of the product. For example, A Chocolate brand may use Boosted posts to gain audience as well as consumers. Boosted posts helps an adviser to be discovered among people, to establish a benchmark in the market and to gain more and more customers. It's a kind of marketing strategy used for publicity purpose.
Learn more about Communication at:
brainly.com/question/25645043
#SPJ4
¿ Cómo se organizaron las vacunas del coronavirus ?
Answer:
In recent months, the World Health Organization (WHO) has warned that the lack of access to vaccines in Africa, where less than 5 percent of the ...
Explanation:
There are two survⅣors ot a plane crash, Jack and Sawyer, who live on a deserted island. In order to survive, they need to obtain or produce food on the island, which comes in the form of fish or bears. The amount of food they can obtain each week is presented in the table below Comparative Advantage Jack Sawyer Fish 20 6 Bears 5 2 Instructions: Round your answers to 2 decimal places. a. Use the information above to compute Jack's opportunity cost for each good For Jack, the opportunity cost of catching 1 fish is 4 bear(s) For Jack, the opportunity cost of hunting 1 bear is 25 fish. b. Use the information above to compute Sawyer's opportunity cost for each good. For Sawyer, the opportunity cost of catching T fish is 3 bear(s) For Sawyer, the opportunity cost of hunting 1 bear iS 33 fish c. Who has the comparative advantage in each good? Sawyer Vhas the comparative advantage in catching fish since he can catch more fish Jack Vhas the comparative advantage in hunting bears since he can hunt more bears
a. Jack's opportunity cost of catching 1 fish is 4 bears, while his cost of hunting 1 bear is 25 fish.
b. Sawyer's opportunity cost of catching 1 fish is 3 bears, and his cost of hunting 1 bear is 33 fish.
c. Sawyer has a comparative advantage in catching fish, and Jack has a comparative advantage in hunting bears.
a. Jack's opportunity cost:
The opportunity cost of catching 1 fish for Jack is 4 bears.
The opportunity cost of hunting 1 bear for Jack is 25 fish.
b. Sawyer's opportunity cost:
The opportunity cost of catching 1 fish for Sawyer is 3 bears.
The opportunity cost of hunting 1 bear for Sawyer is 33 fish.
c. Comparative advantage:
Sawyer has a comparative advantage in catching fish since he can catch more fish compared to Jack.
Jack has a comparative advantage in hunting bears since he can hunt more bears compared to Sawyer.
In terms of fish, Sawyer can catch fish at a lower opportunity cost (3 bears) compared to Jack (4 bears). This means that Sawyer gives up fewer bears to catch fish compared to Jack.
In terms of bears, Jack can hunt bears at a lower opportunity cost (25 fish) compared to Sawyer (33 fish). This means that Jack gives up fewer fish to hunt bears compared to Sawyer.
Therefore, Sawyer has the comparative advantage in catching fish, and Jack has the comparative advantage in hunting bears.
Learn more about Opportunity cost: https://brainly.com/question/1549591
#SPJ11
Most advertising spending is directed to _____.
Answer:
the internet
Explanation:
With respect to personal finance, what is the name of the most commonly used credit scoring system intended to help lenders predict how likely an individual is to repay a loan, or make credit payments on time?.
The most widely used credit scoring system for personal finance, known by the acronym FICO Score ,i.e. Fair Isaac Corporation.
It was created to assist lenders in determining whether or not a potential borrower will be able to repay a loan or make credit payments on time.A consumer's creditworthiness is indicated by a credit score, which ranges from 300 to 850. A borrower will appear better to potential lenders if their score is higher. A credit score is based on a person's credit history, which includes the number of open accounts, total debts owed, payment history, and other elements. Credit scores are used by lenders to assess a borrower's likelihood of timely loan repayment.These three companies (Equifax, Experian, and TransUnion )control the industry for gathering, evaluating, and disseminating data about customers in the credit markets. Fair Isaac Corp., now known as FICO, developed the credit score model, which is utilised by financial institutions.
Learn more about credit score and FICO here
https://brainly.com/question/13981035
#SPJ4
Compare these two sections of resumes. Which is more appropriate? a. - Completed nine-hour training course • Ran simulation software, • Used test probe to test over one hundred parts - Started a test plan document. b. Completed nine-hour training course • Ran simulation software • Used test probe to test over one hundred parts • Started a test plan document JURG Fil, Ir. Ob a
Answer:
the second one
Explanation:
__________ services act as a middleman, allowing individuals to securely send and receive money. select all that apply.
The service that serves as middleman which gives room for individuals to transact by sending or receiving money is regarded as P2P.
Peer-to-peer can be regarded as a networking system which helps in partitions tasks or workloads among peers.It helps for easy transaction whereby two or more people are involved in series of business.In peer-to-peer (P2P) can as well be explained as group of computers which are linked together for processing of data.
Therefore, P2P helps to connect two or more people together for easy transaction.
Learn more at: https://brainly.com/question/21695714?referrer=searchResults
if the nominal rate of interest is 5.2 percent and the real rate of interest is 2.0 percent, what rate of inflation is anticipated?
According to the question, If the nominal rate of interest is 5.2 percent and the real rate of interest is 2.0 percent, 3.2 percent rate of inflation is anticipated.
To calculate the anticipated rate of inflation, we need to subtract the real rate of interest from the nominal rate of interest.
Anticipated Rate of Inflation = Nominal Rate of Interest - Real Rate of Interest
In this case, the nominal rate of interest is 5.2 percent and the real rate of interest is 2.0 percent.
Anticipated Rate of Inflation = 5.2% - 2.0%
Anticipated Rate of Inflation = 3.2%
Therefore, the anticipated rate of inflation is 3.2 percent.
To learn more about interest
https://brainly.com/question/28960137
#SPJ11
the development of – industries in the 1990s created an economic driver that diversified the revenue streams of the state away from reliance on the – industry
Answer:1) High-tech
2) Petroleum
Explanation:
The financial situation of Texas was heavily tied to the boom-and-bust cycles of the petroleum industry for much of the twentieth century.
The diversification of the Texas economy, including the growth of the high-tech industry, was largely caused by the oil bust of the early 1980s.
What is an appraisal? Why is it usually included in the closing costs for buying a home?
The procedure through which a real estate evaluator attempts to discover the fair market value of a home is called a home appraisal. They are frequently used to calculate property taxes, appraisals are typically required in regions.
What is the closing cost?Additional expenses and charges that must be paid at the end of a transaction in real estate that is not included in the property's purchase price is referred to as Closing cost.
A home appraisal is employed to determine a property's worth. Lenders impose these fees in exchange for approving your loan.
Prior to comparing a home to actually acquired properties in the local housing market, licensed real estate evaluators to look at its features and state.
Learn more about Closing costs, here:
brainly.com/question/1084194
#SPJ1
What is a tagline?
(Principles Of Business Management)
Answer:
Explanation:
A tagline is a short phrase used in marketing campaigns of a business to sum up the value of a brand or its products and create a positive brand impression.
Tax breaks to encourage savings are most effective if the supply curve for financial capital is -elastic -steep -inelastic
Tax breaks to encourage savings are most effective if the supply curve for financial capital is elastic.
An elastic supply curve means that a change in price or incentives, such as tax breaks, will have a significant impact on the quantity supplied of financial capital. In this case, tax breaks would encourage individuals and businesses to save more by providing them with a greater financial incentive to do so. The more responsive the supply of financial capital is to changes in price or incentives, the more effective tax breaks will be in promoting savings.
Learn more about financial here;
https://brainly.com/question/32292990
#SPJ11
the decreased use of _______ can help lead to sustainable agriculture.
QUESTION 4 of 10: An example of
sponsor
would be naming an event held at the stadium or even naming the stadium it
a) Naming rights
Ob) Signage
c) Hospitality
d) Endorsing
Submit
Id
Answer:
a) Naming rights
Explanation:
Naming rights involves a financial agreement where a private entity purchases the rights to name a facility or an event. The intention is to use the facility or an event as an advertising platform. In this case, the private company will name the stadium with its brand name. It paints the facility with its corporate colors. Naming rights are usually purchased for a specified duration.
When the stock market as a whole is rising in value then it is referred to as a bear market. True or false?
Answer: False
Explanation: A bear market is when a market experiences prolonged price declines. It typically describes a condition in which securities prices fall 20% or more from recent highs amid widespread pessimism and negative investor sentiment.
(5. From the age distribution, if a country has more workforce that fall between
56 years and above, what are the likely economic effect on such a country?
Answer & Explanation: Aging workforce refers to the part of working individuals that has reached a certain age and beyond often 40 years and above.
Having more aging workforce is HARMFUL for economic growth. This is so because an aging workforce will lead to a decline in labour participation rate due to the retirement age for kost countries. This will also lead to an increase in social security tax and eventually a decline in productivity.
In the market for natural gas, what will likely happen to current natural gas prices and output if the producers expect future prices to decrease? current supply will _________, and, as a result, current prices will _________.
In the market for natural gas if the producers expect future prices to decrease current supply will decrease, and, as a result, current prices will increase.
What is demand?In economics, demand is the quantity of a good that consumers are willing and able to purchase at various prices during a given time. The relationship between price and quantity demand is also called the demand curve
What is supply?supply is the amount of a resource that firms, producers, laborers, providers of financial assets, or other economic agents are willing and able to provide to the marketplace or to an individual. Supply can be in produced goods, labor time, raw materials, or any other scarce or valuable object.
To learn more about demand, refer: https://brainly.com/question/2733525?referrer=searchResults
#SPJ4
how does technology help business become more efficient
Answer:
We use tech. in everything today. It helps keeps files organized vs. using papers, keeps data forever - can't get lost.
Explanation:
Approximately what portion of global employers tends to use social media websites to hire new employees?
A.
30 percent
B.
40 percent
C.
50 percent
D.
60 percent
E.
70 percent
I'm pretty sure it is B. 40 percent
The portion of global employers who tends to use social media websites to hire new employees is approximately 30 percent.
What do you mean by employees?A person refers to the employee who gets paid to work for a person or company.
The approximate portion of global employers who tends to use social media websites to hire new employees is 30 percent.
Therefore, A is the correct option.
Learn more about Employees here:
https://brainly.com/question/13405418
#SPJ2
Who has the power to begin the process of raising taxes in the United States?
All Bills for raising Revenue shall originate in the House of Representatives; but the Senate may propose or concur with Amendments as on other Bills.
Who is in charge of tax increases?In accordance with Article I, Section 8, Clause 1, the Congress shall have the authority to impose and collect taxes, duties, imposts, and excises in order to pay off debts, fund the nation's general welfare, and provide for the common defense. However, all duties, imposts, and excises must be applied equally across the board.
Can a state impose a tax increase?According to the Commonwealth of Australia Constitution Act of 1900, both the federal government and state governments have the authority to levy taxes. The main limitations on the federal government's ability to do so are that its taxes cannot discriminate against particular states or regions of states, and it may only levy federal taxes on excise and customs duties.
To know more about raising taxes visit:
https://brainly.com/question/1890153
#SPJ4