1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
ivolga24 [154]
4 years ago
13

The language of price controls Suppose that, in a competitive market without government regulations, the equilibrium price of mi

lk is $2.50 per gallon. Complete the following table by indicating whether each of the statements is an example of a price ceiling or a price floor and whether it is binding or nonbinding. Statement The government has instituted a legal minimum price of $3.00 per gallon for milk. The government prohibits grocery stores from selling milk for more than $2.30 per gallion There are many teenagers who would like to work at grocery stores, but they are not hired due to minimum-wage laws. Price Control Binding or Not Grade It Now Save & Continue Continue without saving.
Business
1 answer:
drek231 [11]4 years ago
8 0

Answer:

Price floor binding

b. price ceiling binding

price floor and binding

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.

Price ceiling is when the government or an agency of the government sets the maximum price for a product. It is binding when it is set below equilibrium price.

The minimum price of milk is above equilibrium price. So, it is a binding price floor

The maximum price of milk is below equilibrium price. It is binding price ceiling

If teenagers can't find jobs due to minimum wages law. It means that the minimum wage must be above equilibrium price. This is because it is when price is above equilibrium price that supply of labour outstrips demand. So, it is a binding price floor

You might be interested in
Under purchasing power parity, the future spot exchange rate is a function of the initial spot rate in equilibrium and__________
Stolb23 [73]

Answer:

The correct answer is D. the inflation differential.

Explanation:

It is the difference in the inflation rates between two geographical spaces, for example between Spain and Sweden within the EU, or Extremadura and Asturias in Spain.

If inflation occurs in the same integrated economic space, in the long term it causes loss of competitiveness, since the prices of goods and services in one area are more expensive than in another.

4 0
4 years ago
Read 2 more answers
Ben & Jerry's, an ice cream manufacturer, is evaluating their strategies for days of supply. Typically, organizations with p
Phoenix [80]

Answer:

False

Explanation:

Perishable goods need to have fewer days of supply owing to their nature, as high days of supply might caause more spoilage and lead to higher inventory cost.

7 0
3 years ago
Explain how abstraction allows for the creation of increasingly complex systems. reference top-down design strategy in your resp
Nesterboy [21]
Answer:  
A general understanding that abstraction allows programmers to hide details By hiding details, programmers are able to work with complex systems in small pieces without having to pay attention to every detail at once An explanation of how top down design implements abstraction 
Example:  
Through the use of abstraction, a programmer is able to take one large idea, and break it down into smaller pieces. In the context of top-down design, this means that the programmer can create one function that is made up of a set of smaller sub functions. After determining the details of those sub functions, the programmer no longer needs to take into account how they work, knowing that they will work in when called. For example when drawing a snowflake, the programmer may use top down design to split it into separate branches. Each of those branches may have sub functions that determine the detail to be repeated. This allows programmers to develop complex systems while managing complexity at multiple levels of abstraction. 
Which of the following is FALSE about event-driven programs?  
 A. Event-driven programs do not implement algorithms.
 B. Some portions of an event-driven program may never execute while the program is running.
 C. An event-driven program is written to respond to specified events by executing a block of code or function associated with the event.
 D. The order in which an event-driven program will run cannot always be known ahead of time. E. Event-driven programs can be run multiple times with different outcomes, based on user interactions.
4 0
3 years ago
A company purchased $4,300 worth of merchandise. transportation costs were an additional $380. the company returned $295 worth o
damaskus [11]
To solve:
Total cost of merchandise = [(purchased merchandise - returned merchandise) x percentage out of hundred - 1] + transportation cost

Total cost of merchandise = [($4,300 - $295 ) .99] + $380
Total cost of merchandise = ($4,005)(.99) + $380
Total cost of merchandise = $3,964.95 + $380
Total cost of merchandise = $4,344.95
7 0
4 years ago
Read 2 more answers
Mccabe Corporation uses the weighted-average method in its process costing. The following data pertain to its Assembly Departmen
Gemiola [76]

Answer and Explanation:

The computation of the equivalent units of production for both materials and conversion costs is given below:

For material

= Units completed + ending work in process × completion percentage

= 7,700 + 2,100 × 0.75

= 9,275 units

And, for conversion cost

= Units completed + ending work in process × completion percentage

= 7,700 + 2,100 × 0.25

= 8,225 units

5 0
3 years ago
Other questions:
  • _________________ based vpns are appropriate when the endpoints are controlled by different organizations and network administra
    7·1 answer
  • What is the difference between a commercial bank and a savings bank
    6·2 answers
  • New Harvest Bakery acquired all the outstanding common stock of Red Rock Bakery for $70,300 in cash. The book values and market
    11·1 answer
  • Deep Hollow Oil issued 135,000 shares of stock last week. The underwriters charged a spread of 8.05 percent in exchange for agre
    8·1 answer
  • Betty Vinson improperly capitalized line costs at her boss's direction. Which company did she work for
    11·1 answer
  • What are the two components of a universal policy?​
    11·2 answers
  • Fortune, Inc., is preparing its master budget for the first quarter. The company sells a single product at a price of $25 per un
    10·1 answer
  • Which word names the way the different parts of language are arranged?
    15·1 answer
  • What U.S. state sued car manufacturers in 2006 when they didn't comply with cutting tailpipe emissions
    12·1 answer
  • What is the copy-on-write feature, and under what circumstances is it beneficial to use this feature?
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!