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kodGreya [7K]
1 year ago
7

Refer to the above diagram of the market for corn. If the price in this market is $2 per bushel, then there will be? (The graph

and answer choices are in the picture below)
a shortage of 8 thousand bushels.
a shortage of 4 thousand bushels.
a surplus of 12 thousand bushels.
a surplus of 8 thousand bushels.

Business
1 answer:
lord [1]1 year ago
6 0

Using the diagram of the market for corn. If the price in this market is $2 per bushel, then there will be option A: a shortage of 8 thousand bushels.

<h3>What is the issue of the quantity demanded about?</h3>

Based on the image attached,  12 thousand bushels are being wanted at this price of  $2 per bushel, while 4 thousand bushels are being delivered.

These figures are also shown in the image above. Now when you contrast the quantity given and sought at this pricing. The quantity supplied (12) lower than the quantity demanded (4). Or, to put it another way, the quantity that producers want to sell is lower than the quantity that customers want to purchase.

Therefore, Since Qd > Qs, we refer to this as an excess demand scenario or shortage.

Hence, 12 - 4 = 8

So there is a a shortage of 8 thousand bushels in quantity supplied.

Learn more about quantity demand from

brainly.com/question/1245771

#SPJ4

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Ans.  He must save during each of the following 10 years, at the end of each year $32,452.

Explanation:

Hi, in order to find the amount of money that he should have in ten years so he can receive an annual payment of $65,156 for 25 more years (24 payments), we need to bring to present value all 24 payments to year 10. Let me show you the formula.

PresentValue_{10} =\frac{A((1+r)^{n}-1) }{r(1+r)^{n} }

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Every should look like this.

686,012=100,000*(1+0.08)^{10} +\frac{A((1+0.08)^{10}-1) }{0.08(1+0.08)^{10} }

And we solve this equation for "A".

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