Suppose the government imposes a price ceiling above the equilibrium price of a given good. which of the following is the most likely result?
a) some other rationing device will emerge to allocate the good among buyers.
b) some buyers and sellers will be willing to risk breaking the law in order to exchange the goods.
c) no change will occur in the market.
d) there may be buyers who are willing to pay quite high prices so they can consume more than what they are consuming now.
e) a, b, and d

Almost 80% of business owners are clueless about the competition, resulting in a) lost market share and customers. b) needless lawsuits. c) uninspired products. d) lack of perseverance

Mr. pines is considering buying a house and renting it to students. the yearly operating costs are $1,900. the house can be sold for $175,000 at the end of 10 years and it is considered 18% to be a suitable annual effective interest rate. if the house costs $100,000 to purchase, how much would you need to charge your tenants each year in rent? (assume a single payment for the years rent at the end of each year)

Alpine west, inc., operates a downhill ski area near lake tahoe, california. an all-day, adult ticket can be purchased for $55. adult customers also can purchase a season pass that entitles the pass holder to ski any day during the season, which typically runs from december 1 through april 30. the season pass is nontransferable, and the $450 price is nonrefundable. alpine expects its season pass holders to use their passes equally throughout the season. the company’s fiscal year ends on december 31. on november 6, 2009, jake lawson purchased a season ticket. required: 1. when should alpine west recognize revenue from the sale of its season passes? 2. prepare the appropriate journal entries that alpine would record on november 6 and december 31. 3. what will be included in the 2009 income statement and 2009 balance sheet related to the sale of the season pass to jake lawson?