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Elza [17]
3 years ago
11

In the micro supply and demand model, which of the following is true when a fully effective price ceiling is removed from a comp

etitive market. (Assume no other change in government policy.) I. This change is a PPI II. Producer surplus must fall III. Consumer surplus must rise
Business
1 answer:
anzhelika [568]3 years ago
7 0

Answer:

Consumer surplus must rise

Explanation:

Remember, the Price ceiling is removed in a competitive market when there is a struggle to get many consumers.

If however the market price is not allowed to rise to the equilibrium level, quantity demanded would exceed quantity supplied, creating a shortage.

For example, several firms sells apple fruit at a price ceiling of $5, when the price ceiling is removed in this competitive market we would expect the firms to lower the price they sell their apples inorder to get more customers.

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Banks get money to lend to borrowers from other people that keep their money in the bank. Its called trustfund.

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4 years ago
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Creswell Farms produces and sells clover honey and wants to expand its product line. A brainstorming session results in 40 diffe
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Answer:

In this scenario, Creswell Farms is in the idea generation stage of the new product development process.  

Explanation:

Idea generation stage refers to the stage which involves the creation, development, and communication of the ideas. The process involves the construction of the idea and transforming the concepts into reality. The initiation of a project begins with the generation of the idea generation stage. In the above case, the suggestions are provided which would help the business of the product. Hence, this refers to the idea generation stage.

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3 years ago
A company has a selling price of $2,150 each for its printers. Each printer has a 2 year warranty that covers replacement of def
Zina [86]

Answer:

i want to say 179,270 i am sorry if i am wrong

Explanation:

8 0
3 years ago
The major difference between nominal GDP and real GDP is: nominal GDP measures the value of output with constant output levels,
Andrei [34K]

Answer:

The correct answer is "nominal GDP measures the value of output in current-year prices, while real GDP measures output using constant prices."

Explanation:

The real GDP growth is the value of all goods produced in a given year; nominal GDP is the value of all the goods taking price changes into account.

The nominal GDP is the value of all the final goods and services that an economy produced during a given year. It is calculated by using the prices that are current in the year in which the output is produced. The nominal GDP takes into account all of the changes that occurred for all goods and services produced during a given year. For example, a nominal value can change due to shifts in quantity and price.

The real GDP is the total value of all of the final goods and services that an economy produces during a given year, accounting for inflation. It is calculated using the prices of a selected base year.

The correct answer is "nominal GDP measures the value of output in current-year prices, while real GDP measures output using constant prices."

7 0
4 years ago
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kondaur [170]

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3 years ago
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