The shortage caused by the price ceiling is 160.
<h3>What is the shortage caused by the price ceiling?</h3>
A price ceiling is when the government places a limit on the highest amount a good or service can be sold for. It is binding when it is placed below equilibrium price.
Because price is below equilibrium price, there would be a shortage.
Shortage = quantity demanded - quantity supplied
640 - 480 = 160
Please find attached the required table. To learn more about a price ceiling, please check: brainly.com/question/24312330
Answer:
TRUE
Explanation:
Network representatives add value for suppliers and clients alike. They balance the difference between buyers and sellers in terms of time, location, and ownership.
- Channel representatives collect demand and supply information to make the services available on the marketplace.
At a market level, product placement relates to the wide range of products available on the market and presentation of those items in such a manner as to generate curiosity and entice investors to make a buy.
Answer:
$7.07
Explanation:
Calculation to determine what Seemore's continuous improvement target for direct labor in 2014 was:
2014 Continuous improvement target for direct labor=$ 7.60 – ($ 7.60 × 0.07)
2014 Continuous improvement target for direct labor=$ 7.60 -$0.532
2014 Continuous improvement target for direct labor= $7.07
Therefore Seemore's continuous improvement target for direct labor in 2014 was: $7.07
Answer:
$307,390
Explanation:
Given that,
Cost of Goods Available:
= Beginning Inventory + Net Purchases
= $140,000 + $658,000
= $798,000
Cost of goods Sold:
= [(100 - Gross profit ratio) ÷ 100] × Sales
= [(100 - 29) ÷ 100] × $691,000
= $490,610
Ending Inventory:
= Cost of goods available - cost of good sold
= $798,000 - $490,610
= $307,390
All that information gives you three points to make the graph.
Point 1:
At the price of $10, the offer is 2*1,000 shoes => (10, 2,000)
At the price of $25, the offer is 10*1,200 shoes => (25, 12,000)
At the price of $40, the offer is 10*1400 + 4*500 => (40, 16,000)
Then you have three points. You can check that their are not aligned because when you increase the price $15 from 10 to 25 the offer increases in 10,000 shoes; but when you increase the price $15 from 25 to 40, the offer increases 4,000.
To draw the grpah:
- use a perpendicular coordinate system with the price in the horizontal axis and the offer in the vertical axis,
- lable the horizontal axis with the prices from 10 to 50 and the vertical axis with the offers from 1,000 to 18,000.
- draw the three calculated points (10; 2,000) , (25; 12,000) and (40; 16,000)
- draw a curved line that passes through the three points.
Ther you have the graph.