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zheka24 [161]
3 years ago
5

The government sometimes creates an excess demand for a product by setting a maximum price at which the product may be sold to c

onsumers. this is sometimes called a:
Business
1 answer:
nignag [31]3 years ago
8 0
This is sometimes called a "price floor"
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Lenham, inc. sells merchandise on credit. if a customer pays its balance due within the discount period, what is the effect of t
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Assets and stockholder's equity decrease
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Ceteris paribus, if the corn crop is 15 percent larger this year than it was last year, farmers will have to ________ the price
Yuki888 [10]

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Reduce and  more than 15 percent

Explanation:

As Inelastic Demand state that the percentage change in quantity demanded is less than the percentage change in price. Therefore, if the crop is 15 percent higher, farmers will have to reduce the cost of corn by 15 percent to sell the new crop. We know that supply and price share an inverse relationship to reduce sales as supply increases and new crops grow.

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4 years ago
Country a specializes in the production of copper and produces it more efficiently than any other country. It buys wheat, which
tatuchka [14]

The choice of country a to purchase wheat from country b is supported by Ricardo's theory of comparative advantage, which is the theory of international commerce.

<h3>What is the trade theory of Ricardo?</h3>

Three premises underlie the Ricardian theory of international trade: labor productivities are fixed, there is no cross-border movement of the production factors, and labor is the only production factor. Only the first of these presumptions is acknowledged by Ricardo himself.

According to Ricardo's well-known theory of comparative advantage, countries can gain a competitive advantage in international trade by focusing on producing goods with the lowest opportunity costs compared to those of other countries.

<h3>What can we infer about the advantages of free trade from Ricardo's theory of comparative advantage?</h3>

The foundation of international trade is comparative advantage, which also serves as the basis for the positive economic effects of free trade on nations. According to the comparative advantage concept, trade can still be advantageous to both trading partners even when one country has a clear advantage in producing goods.

Learn more about Ricardo's theory of comparative advantage: brainly.com/question/14015888

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1 year ago
If you were selecting from a variety of forecasting models based on MAD, which of the following MAD values from the same data wo
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6 0
4 years ago
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