Answer:
A binding price floor is set above the equilibrium price as a minimum price
A binding price ceiling is set below the equilibrium price as a maximum price
Equilibrium price is $1.50
a) The government prohibits donut shops from selling donuts for more than $1.10 each = Price ceiling and it is Binding
b) The government has instituted a legal minimum price of $1.80 each for donuts = Price Floor and it is Binding
c) Due to new regulations donut shops that would like to pay better wages in order to hire more workers are prohibited from doing so = Price ceiling and it is non-binding (as firms are wiling to offer higher wages than the minimum wage rate)
Explanation:
Answer:
The promise that the bill of rights would be added - that was done to appease the people who felt like it gave too much power to a central government.
Explanation:
my dad you lied about fruit
Answer:
Sociocultural Dimension
Explanation:
Social-cultural dimension is the way people in our society interact with people, influence the people and get influenced by people by their norms, behaviors, symbols, customs and other social factors.
So in this scenario, here we can see that in the modern culture there is race to capture greater number of fans and camera flash and this race has influenced the people to spend money on plastic surgery to compete with other on this platform. So people like to impress others by their clothes they wear, the shoes, the cars they own, wrist watches, etc. Its common in our culture and is our social wants. So it best represents our social-cultural dimension.
