When the new law is passed, the effect on the supply and demand of apartments is that Supply down, demand up.
<h3>What happens when a price ceiling is below the equilibrium?</h3>
When the equilibrium price which is $3,000 in this case, is higher than the price ceiling of $2,600 in this case, more people will demand apartments because they will be more likely to afford it.
Supply on the other hand, will decrease because less people will want to make their places available at below equilibrium price.
Find out more on price ceilings at brainly.com/question/1448982.
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<span>An objective is a subset of the overall goal. The goal is the final accomplishment.The objective is to complete each step leading toward the ultimate goal. Ghant charts were designed with this premise in mind.</span>
The main political and economic risks which ABB <em>must deal with</em> given that it has a strong focus on <em>entering emerging economies </em>is:
- The stability of the national government
According to the given question, we are asked to state the main political and economic risks which ABB <em>must deal with</em> given that it has a strong focus on <em>entering emerging economies.</em>
As a result of this, we can see that when a company or an organisation wants to do business in a new and emerging economy in a county, the major political and economic risks which they have to consider is the stability of the national government so that their business would not be suddenly affected by government policies or wars.
Read more about national government here:
brainly.com/question/9261004
Answer:
Demand decreases
Explanation:
Substitute goods are products that can be used in place of each other. Goods are described as substitutes if a customer can use them interchangeably and get equal or almost the same satisfaction. Tea and coffee will be substitutes if a customer can consume either of them and be happy.
If the price of a substitute good declines, customers will prefer consuming it instead of the other product. The other product's demand will decrease due to a change in customer preferences as a result of a lower price.