Answer:
will attract more resources towards the production of the product
Explanation:
A price floor is when the government or an agency of the government sets the minimum price of a product. A price floor is binding if it is set above equilibrium price.
Because price is set above equilibrium price, quantity supplied would exceed quantity demanded and there would be a surplus.
If price were set below equilibrium price (the price floor is non-binding) there would be shortages as quantity demanded would exceed quantity supplied
price floor benefits sellers
Due to increased profitability as a result of the high price as a result of price floor, there would be a resource flow into that industry
Answer:
$500 (Favorable)
Explanation:
Given that,
Production cost = $7 per unit
Fixed costs = $23,000 per month
Units produced = 5,500
Actual total costs = $61,000
Standard cost = Fixed cost + Variable cost
= $23,000 + ($7 × 5,500)
= $23,000 + $38,500
= $61,500
Variance = Standard cost - Actual total costs
= $61,500 - $61,000
= $500 (Favorable)
Answer: The consumption schedule shows the amounts households intend to consume at various possible levels of aggregate income.
Explanation: Consumption function, in economics, the relationship between consumer spending and the various factors determining it. At the household or family level, these factors may include income, wealth, expectations about the level and riskiness of future income or wealth, interest rates, age, education, and family size.
A consumption schedule is a table of numbers showing the relation between consumption expenditures and income for the household sector. The income measure commonly used is national income or disposable income. Occasionally a measure of aggregate production, such as gross domestic product, is used instead.
The primary objective of ABM or activity-based management is a method to access a business and figure out it's strengths and weaknesses to strategically fix problems.
goodluck! :-)
Answer:
She failed to properly assess her risk of storm damage.
Explanation: Edge 2021
