Answer:
A price floor set above the equilibrium price will result in a surplus of supply.
Explanation.
An equilibrium price refers to the price at which demand for a service or product is equivalent to the quantity of the product or service supplied in the market.
Setting a price floor above the equilibrium price essentially means that the set prices will be higher than what demand is willing to pay for the product or service. Demand will therefore purchase fewer quantity of the product offered by supply at the prevailing price than they would have at equilibrium price.
Since the price floor will raise the product price to considerably higher than the equilibrium price, supply will be willing to provide higher volumes of the product at the prevailing price than at equilibrium price.
This will lead to a mismatch in the market between supply and demand resulting into a surplus.
Answer:
Social capital is the investment in social relations with the expectation of returns in the marketplace
Explanation:
Can i see the answer choices
When Gavin sells his product to a wholesaler, the storage function is transferred to the intermediary. Gavin sells his product to someone who will wholesale the item to a larger business. Each of these processes are important and describe the background of business to business (B2B) sales.
Why is strategy implementation referred to as the "graveyard of strategy"? Ma<span>nagers often fail to implement a chosen strategy successfully despite extensive analysis of business environments.
Although tons of planning, time, and research is put into developing a plan ultimately it is up to a manager and management team to put the strategy in play and implement it. If the plan does not get implemented or implemented correctly, this can fall back on being poorly executed by management.
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