1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Strike441 [17]
2 years ago
8

In a given market, the market equilibrium price and quantity are $120 and 5 million units, respectively. At a price of $100, 4.8

million units are supplied, and 5.2 million units are demanded. It can be said that at a price level of $100 there is a _____.(1 point)
A. a surplus of 0.4 million units
B. a surplus of 0.2 million units
C. a shortage of 0.4 million units
D. a shortage of 0.2 million units
Business
2 answers:
Aliun [14]2 years ago
8 0

In this market, it can be concluded that at a price level of $100 per unit, there is <em>C. a shortage of 0.4 million units.</em>

  • This market shortage occurs because 0.4 million units of the goods were not supplied.  There is excess demand and shortage in supply.  
  • The market demand increased from the equilibrium quantity of 5 million units to 5.2 million while the market supply reduced from the equilibrium quantity of 5 million units to 4.8 million.

  • The shortage of 0.4 million units results from the difference between the quantity demanded (5.2 million) and the quantity supplied (4.8 million) as a result of reduced price.

Thus, the market shortage shows the reduced willingness of suppliers to supply goods at the new price of $100 per unit instead of at the acceptable equilibrium price of $120 per unit.

Read more about market surplus and shortage at brainly.com/question/24385458

zepelin [54]2 years ago
6 0

Answer:

C. a shortage of 0.4 million units

You might be interested in
Users create expense reports and attach receipts in an Expenses app before submitting them for approval. What should the Adminis
monitta

Answer:

The administrator should consider the App's ability to enable the user to scan and attach receipts with the expense reports.

Explanation:

The App for Salesforce Mobile should be enabled to scan and attach receipts with the expense reports in order to meet the user's requirements.  The easiness of the Mobile App achieving this functionality is very important.  Once users were not always able to easily implement this functionality in the App, then it would not be considered user-friendly.  The scanning should be as simple as taking a shot with the phone's camera.

7 0
3 years ago
If a researcher asks a consumer why s/he wants to buy a Nokia cell phone, and learns, "They look well built" (attribute); then a
ra1l [238]

Answer:

D. laddering

Explanation:

6 0
3 years ago
If real GDP is $200 billion, full employment GDP is $500 billion, and the marginal propensity to consume is 0.75, then Congress
Anuta_ua [19.1K]

Answer:

The answer is: decrease taxes by $100 billion.

Explanation:

If the real GD is $200 billion, which represents only 40% of full employment GDP, then the government should try to increase consumer spending either by decreasing taxes or increasing government spending, or a combination of both.

In this case, I chose the tax decrease since government have budget limitations and they can only decrease taxes by so much before hitting a deficit. Additionally, when you have a large tax reduction, usually government spending either stays the same or decreases.

If the government decreases taxes by $100 billion, the marginal propensity to consume shall result in a $75 billion increase in consumption. According to the Keynesian Multiplier theory, that $75 billion should generate additional production, creating a virtuous cycle that should increase the real GDP in a larger proportion.

3 0
3 years ago
The court hears a discrimination case in which they are asked to decide whether local anti-discrimination laws protect against a
Andreyy89

Answer:

The legislature's action is an example of: Revoking common law by new statutory law

Explanation:

First of all, we need to understand what is the difference between a common-law and statutory law.

<u>Common-law: </u>This is based on decisions made previously at court, they have judicial precedent, so when there are similar cases the judges base their decision on these precedents.

<u>Statutory law:</u> This is a formal type of law, given it passed the house of parliament or Congress. The statutory laws are written and they regulate the behavior of citizens. There are many examples of statutory laws: tax laws, traffic regulations, etc.

According to the definitions above, the statutory law is stronger than a common law because the statutory law can modify the common law, just as in the provided example:<em> The legislature, following the court ruling, passes a statute saying hair color is not covered by anti-discrimination laws.</em>

Despite the common law is based on prior decisions taken at court (precedents), these are not approved by the parliament or congress, unlike the statutory law.

8 0
3 years ago
Horizontal scope refers to the Multiple Choice 0 O range of activities that the firm performs internally. 0 O range of product a
attashe74 [19]

Answer:

Horizontal scope refers to the Multiple Choice 0 O range of activities that the firm performs internally. 0 O range of product and service segments that a firm can serve within its focal market, 0 extent to which a firm engages in the various activities from initial activities all the way to after-sales activities. 0 O decision to outsource or insource certain processes of a company. 0 extent to which strategic alliances and partnerships are used.

Explanation:

4 0
3 years ago
Other questions:
  • Janson Corporation Co.'s trial balance included the following account balances at December 31, 2021: Accounts receivable $14,000
    11·1 answer
  • Based on the interdependence of the four types of salesperson goals, what should a salesperson's sales call goals be based on?
    5·1 answer
  • Which of the following statements is (are) TRUE?
    9·1 answer
  • Due to the decrease in the level of water in the lakes of Chapel Hill, the local government wants to reduce the consumption of t
    8·1 answer
  • The fixed cost element of a mixed cost is the cost of having a service available. true
    9·1 answer
  • Long-term disability insurance _____. a. pays for temporary living expenses and moving expenses incurred by disabled employees b
    14·1 answer
  • Differential Analysis for Further Processing
    8·1 answer
  • If a firm's marginal tax rate is increased, this would, other things held constant, lower the cost of debt used to calculate its
    10·1 answer
  • How can an economic crisis cause citizens to accept a totalitarian government? Jobless citizens become desperate for someone who
    5·2 answers
  • Veronica works in the purchasing department for Medical Center Hospital. She buys gloves, masks, and protective gear from Johnso
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!