Arancher is considering the purchase of additional land. given the present value of after-tax net return of $11.07, a marginal tax rate of 27%, a terminal value of $482.53, and an after-tax discount rate of 2.69%. this rancher is planning on selling the land in 15 years.
what is the maximum price this farmer should be willing to pay for an acre of land?

a) $302.58 b) $384.27 c) $310.71 d) $220.88 e) none of these

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

Diversity is an obstacle all marketers face: true false

Which change is illustrated by the shift taking place on this graph? a decrease in supply an increase in supply o an increase in demand o a decrease in demand