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vagabundo [1.1K]
3 years ago
9

Suppose that, in a competitive market without government regulations, the equilibrium price of donuts is $1.00 each. Indicate wh

ether each of the statements is an example of a price ceiling or a price floor and whether it is binding or nonbinding.
1) The government prohibits donut shops from selling donuts for more than $1.20 each.
2) Due to new regulations, donut shops that would like to pay better wages in order to hire more workers are prohibited from doing so.
3) The government has instituted a legal minimum price of $0.80 each for donuts.
Business
1 answer:
vodomira [7]3 years ago
8 0

Answer:

1. Price ceiling, Binding

2. Price ceiling, Binding

3. Price floor, binding

Explanation:

Price ceiling is a government or group control limit on how high a product, commodity or service can be charged.

Price floor is a government or group limit on how low a product, commodity or service can be charged.

Binding simply means you are legally bound to something while non-binding means you are not legally bound to it.

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Question 2 (2 points)
frez [133]

Answer:

C) Classification of products

Explanation:

Advertising is not a means of classifying products.

Advertising is a commercial process of marketing goods and services to a target group of people.

  • Advertising is a means of making a product known the the general market population.
  • It helps to increase the market share of a particular product among competitors.
  • When an advert is done rightly, it can bring more revenue to the company.
  • Also, it reinforces brand recognition.
5 0
3 years ago
Read 2 more answers
An appliance store sells 500 units of a particular type of dishwasher each year. The demand for this product is essentially cons
Elis [28]

Answer:

161 units

Explanation:

Economic order quantity = √[(2 x annual demand x orderign cost) / annual holding cost per unit]

annual demand = 500 units

ordering cost = $1,000

holding cost = $550 x 7% = $38.50

EOQ = √[(2 x 500 x $1,000) / $38.50] = 161.16 units ≈ 161 units

7 0
3 years ago
When i was a young man (not too long ago) big box retailers - very large, free-standing specialty stores were very popular. toda
Mashcka [7]
It could be explained by the way technology and society is moving on, its a different generation lids nowadays grow up with phones in their faces rather than toys so I would say generation change
3 0
3 years ago
Which highest and best use criterion would require an appraiser to consider the frontage of the site?
Bond [772]

physically possible is the highest and best use criterion that would require an appraiser to consider the frontage of the site.

Criterion is usually a plural noun that refers to a criterion by which a judgment can be made. Its singular form is the norm, but evidence shows that the norm is often used in both singular and plural forms, as are data and agenda, and their lesser-used singular forms datum and agenda. I'm here.

For example, SAT score is the predictor and his GPA in college is the criterion. Regression analysis confirms that there appears to be a strong correlation between SAT scores and his GPA in college. However, a high SAT score does not necessarily mean a high GPA in college.

Learn more about criterion here: brainly.com/question/17192140

#SPJ4

8 0
1 year ago
Manufacturing cycle time is best defined as the: length of the work shift, expressed in minutes per day. time it takes a unit to
luda_lava [24]

Answer:

time from raw materials receipt to finished product exit.

Explanation:

Manufacturing cycle time is best defined as the "time from raw materials receipt to finished product exit."

To explain better, manufacturing cycle time is the overall time of process that covers the total duration it takes the final production of commodities to be made. That is beginning from the inception stage which is usually raw materials through its conversion stage and eventually into finished goods.

5 0
3 years ago
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