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lidiya [134]
3 years ago
5

Jamie has determined she is unable to pay the minimum payments on her student loan based on her current income. What is the next

BEST step for Jamie in order to avoid late payments or defaulting on her student loan?
Business
1 answer:
andre [41]3 years ago
5 0

Answer: call the lender so as to discuss the additional repayment options

Explanation:

From the question, we are informed that Jamie has determined she is unable to pay the minimum payments on her student loan based on her current income.

The next best step for Jamie in order to avoid late payments or defaulting on her student loan is to call the lender so as to discuss the additional repayment options.

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serg [7]

Answer:

A price ceiling set at $6 will be binding and will result in a shortage of 8 units.

Explanation:

In order for a price ceiling to be binding, it must be set below the equilibrium price level. In this case, $6 is below the equilibrium price of $10. It will produce a shortage of 8 units because the quantity supplied by producers will be only 6 units, while the quantity demanded by consumers will be 14 units.

Binding price ceilings always produce a deadweight loss which is represented by the area between the demand curve and the supply curve left to the equilibrium price.

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