An accountant increases the price he charges for his services by 16 percent. in response, the demand for his services decreases by 14 percent. will the accountant's revenue from his accounting services increase, decrease, or remain unchanged? the accountant's reve

Aprice ceiling is “binding” if the price ceiling is set below the equilibrium price. suppose that the equilibrium price is $5. if a price ceiling is set at $6, this will not affect the market in any way since $5 remains a legally allowable price (since $5 < $6). a price ceiling of $6 is called a “non-binding” price ceiling. on the other hand, if the price ceiling is set at $4, the price ceiling is “binding” because the natural equilibrium price is $5 but that is no longer allowed. what happens when there is a binding price ceiling? at a price below the equilibrium price, quantity demanded exceeds quantity supplied. there is a shortage. normally, price increases eliminate shortages by increasing quantity supplied and decreasing quantity demanded. in this case, however, price increases are not allowed past the price ceiling. we therefore predict that the observed market price will be right at the price ceiling and there will be a permanent shortage. the observed quantity bought and sold will be dictated by the quantity supplied at the price ceiling. although consumers would like to buy more, there are no more units for sale

Sue now has $125. how much would she have after 8 years if she leaves it invested at 8.5% with annual compounding? a. $205.83b. $216.67c. $228.07d. $240.08e. $252.08

Nnette henri is paid an hourly wage of $8.90 for a 32-hour workweek of 4 days, 8 hours daily. for any work on the fifth day and on saturdays, she is paid one and one-half times her regular hourly rate. during a certain week, in addition to her regular 32 hours, henri worked 6 hours on the fifth day and 5 hours on saturday. for this workweek, henri’s total earnings are: