Answer:
A binding price floor is set above the equilibrium price as a minimum price
A binding price ceiling is set below the equilibrium price as a maximum price
Equilibrium price is $1.50
a) The government prohibits donut shops from selling donuts for more than $1.10 each = Price ceiling and it is Binding
b) The government has instituted a legal minimum price of $1.80 each for donuts = Price Floor and it is Binding
c) Due to new regulations donut shops that would like to pay better wages in order to hire more workers are prohibited from doing so = Price ceiling and it is non-binding (as firms are wiling to offer higher wages than the minimum wage rate)
Explanation:
No Spain wasn't first to have slaves it was Europe who had the first slave's Hope this helps:)
Do you still need it? I can do it but what’s the topic about?
Answer and Explanation:
What are the responsibilities of the government towards its citizens?
The government plays a crucial role in protecting the citizens of the country. It also ensures the country's peace and order, so that people can live a normal life free from foreign threats. It also helps protect the country's national territory in order for people to fully enjoy the country's natural resources and for them to live happily.
What does it expect from people?
If the government has responsibilities towards its citizens, so do citizens have responsibilities towards the government. Citizens are expected to respect and <u>follow the law </u>laid down by the government. They are also expected to<u> respect other citizens</u>. In addition, they are expected to <u>participate in community activities,</u> which help make the entire nation a better place to live.
