If the government agreed to purchase the surplus output and introduced a guaranteed price floor of $40, then most likely the government <span>'s total support payments to producers would be $4000 per week. We have a 180 quantity demanded and we have 280 quantity supplied, we will get the surplus by subtracting the supply by demand. So, 280 - 180 = 100 x price of 40 = 4000.</span>
<u>Explanation:</u>
First, remember that the difference between <em>normative and positive economic analysis</em> is that;
Normative analysis take a somewhat neutral view by stating how the world should be. While
The Positive analysis states the facts. That is, it describes the world as it is.
<u>
Thus, a </u><u>Normative analysis</u><u> of the consequence of minimum wage would be the following statements:</u>
c. In some cities such as San Francisco and New York, it would be impossible for low−skilled workers to live comfortably in the city without minimum wage laws.
d. The gains to winners of a minimum wage law should be valued more highly than the losses to losers because the latter primarily comprises businesses.
<u>And a </u><u>Positive analysis</u><u> of the consequence of minimum wage would be the following statements:</u>
a. The minimum wage law causes unemployment.
b. A minimum wage law benefits some groups and hurts others.
Answer:
easy
Explanation:
1. address
2. greeting
3. reason for this letter
4. in 2 paragraph state what u want
5. conclusion
6. end greeting
Forging is the process of applying thermal and mechanical energy to steel billets or ingots to result into a changed shape of the material while in a solid state. The raw material is solid metal in this case.