<span>Setting a rent control price ceiling will cause the same impact as any other price ceiling that is below the market equilibrium price: it will create a shortage in the market. At the price equilibrium of $600, the number of renters would exactly meet the number of available 2 bedroom apartments. However, with this fixed price ceiling, the position along the demand curve will shift to one of higher demand, with no analogous change in the supply curve. Thus there will be more renters than can be supported, and renters will have to look for alternatives and substitutes.</span>
When best buy and sears engage in a price war on maytag appliances, <u>Horizontal</u> channel conflict can occur.
<h3>What is Horizontal channel conflict?</h3>
Horizontal channel conflict can be defined as the type of conflict that arise when their is a conflict or a disagreement among members that are a similar level of a distribution or marketing channel.
Example when two retailers compete against each other or when two producers compete against each other.
Therefore When best buy and sears engage in a price war on maytag appliances, <u>Horizontal</u> channel conflict can occur.
Learn more about Horizontal channel conflict here:brainly.com/question/14891321
Answer:
b. 502,000 units
Explanation:
- X
Desired Ending 34,000
R1 320,000
R2 180,000
Beginning (32,000)
Production Budget 502,000
32,000 + P = 34,000 + (320,000 + 180,000)
34,000 + 320,000 + 180,000 - 32,000 = 502,000 = Production
Answer:
An increase in demand
Explanation:
At equilibrium quantity, there is no excess or shortage in supply. The quantity supplied match with quantity supplied. The equilibrium price is the prevailing market price where there no excess or shortage in demand or supply. At the equilibrium point, Both suppliers and buyers are happy with the current price and quantity supplied.
An increase in demand will make suppliers increase supply to meet the new high demand. As demand increases, prices tend to rise. An increase in demand, therefore, cause the equilibrium price and quantity to increase.
Answer:
Mass customization
Explanation:
Mass customization is a business approach that focuses on providing customized goods and services to customers. It is a strategy that requires flexibility, integration, and personalization to make customized products that suit each customer's needs.
The biggest challenge with mass customization is the cost element. A business needs to have sufficient customer orders to deliver quality customized products at a competitive price.
Mass customization is the availing of tailor-made products, unique and to each customer's liking. By allowing each customer to set their preferences, Sunnyside Travel is involved in mass customization.
