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Katen [24]
3 years ago
14

As illustrated here, a binding price ceiling causes a short-run shortage, which then worsens into a long-run shortage. what, in

this particular scenario, happens to the black-market price between the short run and the long run?

Business
1 answer:
Alex Ar [27]3 years ago
8 0

Answer:

the black market price stays more or less the same in the long run as in the short run.

Explanation:

The black market price may increase or decrease depending on the price elasticity of the goods or services involved, there is no general economic rule that defines how black market equilibrium price reacts to changes in the supply and demand of legal goods and services.

In this specific case, both the demand elasticity and the supply elasticity are elastic, so they basically cancel out or offset each other. The black market supply will decrease the shortage, but it will not be able to satisfy the new quantity demanded completely. Black market apartments have a greater elasticity (steeper curves).

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When countries sell off state-owned enterprises and privatize them, it usually results in a(n)A. continuing drain on future natu
babymother [125]

Answer:

C. increase in modernization by new investors.

Explanation:

Privatization is the transfer of ownership of property or business owned by government to a private entity.

Privatization generates capital to be invested in strategic areas and help to reduce the continuing drain on future natural resources. The new private investors causes economic growth by modernizing the acquired property or business from the government.

5 0
3 years ago
In the United States alone, $16 billion of products and services are traded every year without any money changing hands in a pra
Harlamova29_29 [7]

In the United States alone, $16 billion of products and services are traded every year without any money changing hands in a practice referred to as Barter transactions account .

  • A barter exchange account is handled as an asset account and the revenue from bartering is treated as income in a typical journal entry.
  • In the aforementioned scenario, barter income would be credited with $100 and the barter exchange account would be debited with $100.
  • A barter exchange is a group of people or businesses that have decided to swap goods or services without taking payment in cash.
  • Disadvantages are that bartering frequently requires much time and hassle and that goods are often not readily divisible, meaning that swapped goods have to be basically equal in value if a trade is to occur.

What are barter accounts?

  • A barter exchange operates as a broker and bank in which each participating member has an account that is debited when purchases are made, and credited when sales are made.
  • Compared to one-to-one bartering, concerns over unequal exchanges are reduced in a barter exchange.

Learn more about barter accounts brainly.com/question/23967562

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4 0
2 years ago
Fill in the blank.... 10 PTS !!!
WITCHER [35]

She can use images to show the team the the products they plan to launch.

She can also add a graph to show where these products will be most popular.

4 0
3 years ago
Herbal Organics used actor and former NFL player Sweet Dave Brown to act as its spokesperson as the "Herbal Organics Man." It fi
zhannawk [14.2K]

Answer:

D. Market Penetration

Explanation:

Market penetration is one of the Growth strategies as defined by Ansoff. With the use of an actor and an ex NFL player for their advertisement, Herbal Organics was able to penetrate the market more, thereby increasing their sales as compared to the previous year. Market penetration involves funding ways to lure away customers from competitors towards you. Its aimed at increasing the available market share through increased efforts in getting customers or target markets.

8 0
3 years ago
In microeconomics, what occurs when equilibrium is reached
Anna35 [415]
Prices are set. ☺️☺️☺️☺️
3 0
3 years ago
Read 2 more answers
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