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bezimeni [28]
2 years ago
10

If buyers in this market have to wait in line to purchase this good after a $1 price ceiling is imposed, each buyer purchases on

ly one unit of the good, and buyers in the market value their time at $8 per hour, how long will the wait have to be per remaining customer to clear the market
Business
1 answer:
Sophie [7]2 years ago
3 0

The waiting time will be 30 minutes because 30 minutes at $8 per hour adds $4 to the price. Therefore, making the full price equal to $5 for each buyer clears the market.

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

A price ceiling is a price control mechanism by the government to intervene in the market forces of demand and supply by setting a maximum price.

While price ceilings are imposed to make prices low for consumers, it may cause shortages in the quantities supplied.

Thus, the waiting time will be 30 minutes because 30 minutes at $8 per hour adds $4 to the price.

Learn more about price ceilings at brainly.com/question/4120465

#SPJ12

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True or false: japan generally runs a significant trade surplus because of the structural barriers against imports into japan
ololo11 [35]

The statement, Japan generally runs a significant trade surplus because of the structural barriers against imports into Japan, is true.

As Japan's savings rate is high relative to Japan's domestic investment, Japan generally runs a trade surplus. Thus, the result is high net capital outflow which is matched by high net exports, resulting in a trade surplus.

Japan's overall trade surplus is the result of its exports in the scientific and optical equipment, rubric machinery, semiconductors, electronic parts, and telecommunications equipment. Now the current account surplus has been shrinking for four fiscal years in a row.

Hence, in 2019, Japan reported the biggest trade surpluses with different countries.

To learn more about trade surplus here:

brainly.com/question/1930187

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5 0
2 years ago
What are the advantages and disadvantages of using a credit card?
scoundrel [369]
Some advantages are not having to bring cash with you, andyou can keep it in one place. A couple of disadvantages are having the constant threat of account fraud of you're not careful, and you can easily overspend on a credit card.

Hope this helps ~
3 0
4 years ago
Read 2 more answers
The ________ value (or obtained value) is what we compute to help us determine if we should accept the null hypothesis or not.
Dennis_Churaev [7]
P value is another way to say obtained value
3 0
4 years ago
An energy company is seeking to build a pipeline across multiple Canadian provinces and U.S. states. Though __________________ m
sp2606 [1]

Answer:

The correct word for the blank space is: stakeholder mapping.

Explanation:

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7 0
3 years ago
The abrupt end of long distance cattle drives in 1885 was primarily due toa. the development of railroad cars that could haul ca
vladimir1956 [14]

Answer:

a. the development of railroad cars that could haul cattle.

Explanation:

The abrupt end of long distance cattle drives in 1885 was primarily due to the development of railroad cars that could haul cattle.

It was the advent of expanding rail road lines that terminated the cattle drive through Kansas because the end points of the cattle trail shifted to meet expanding railroad lines.

It was logical that as the railroads expanded to meet the cattle drive, one had to give way to the other because cattle do stray and trains could haul cattle

8 0
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