6. In response to rising prices, the local government passes a law that says the price

History

1 answer:

Leviafan [203]1 year ago

7 0

At the lower price, sellers will be willing to make 40 loaves of bread.

At the lower price, customers will want to buy 60 loaves of bread.

<h3>What is a price ceiling?</h3>

Price ceiling is when the government determines the maximum price a good or service should be sold for. It is binding when it is set below equilibrium price.

In order to determine the quantity demanded at the price of $5.50, trace $5.50 to a point on the demand curve(the downward sloping curve). In order to determine the quantity supplied at the price of $5.50, trace $5.50 to a point on the supply curve(the upward sloping curve).

Please check the attached image for the required diagram. To learn more about a price ceiling, please check: brainly.com/question/26521358

You might be interested in

The advantages the Americans during the revolutionary war

Vladimir79 [104]

Answer:

advantages the colonists had was the fact that American forces were fighting on their own ground. They knew the terrain, roads, mountain passes, and swamp lands of the colonies. British soldiers were largely foreign to the environment,and supplies and troops had to be shipped across the Atlantic Ocean

Explanation:

4 0

3 years ago

Read 2 more answers

75% of what number is 66?

Agata [3.3K]

Answer:

Explanation:

6 0

2 years ago

Read 2 more answers

A discussion about nullification in the south during the american antebellum period was caused by

Andreas93 [3]

The discussion was caused by <span>Congress passing a protective tariff on imported goods.
The protective tariff was created in order to protect local produced goods so they can compete with the price of british goods. This protective tariff eventually led to the economic growth period that known as the Antebellum period in the south.</span>

3 0

2 years ago

Solve the following system of equations.

lesya692 [45]

I think this is right :)