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White raven [17]
3 years ago
6

To say that a price ceiling is binding is to say that the price ceiling a. results in a shortage. b. is set below the equilibriu

m price. c. causes quantity demanded to exceed quantity supplied. d. All of the above are correct.
Business
1 answer:
bixtya [17]3 years ago
5 0

Answer:

A price ceiling is set below the equilibrium price.

Explanation:

A price ceiling is set below the equilibrium price. Price ceilings prevent a price from rising above a certain level. When a price ceiling is set below the equilibrium price, quantity demanded will exceed quantity supplied, and excess demand or shortages will result.

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Brook's Law is the statement that adding more people to a late project makes the project later.
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3 years ago
Suppose that you own a 20-acre plot of land that you would like to rent out to wheat farmers. For them, bringing in a harvest in
mars1129 [50]

Answer:

1. The most that the farmer would pay to rent 20 acre is $100.

2. The price of wheat rose to $6 per bushel is $900.

Explanation:

Given the information, we have:

Total cost per acre

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Revenue from wheat per acre

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Contribution per acre = $200 - $185 = $15

The most that the farmer would pay to rent 20 acre is

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If the price of wheat rose to $6, the most that farmer would pay

= 20 x (240 - 185 - 10)

= $900

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Answer:

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Read 2 more answers
The process that falls between buying for a new need and making a routine repurchase is called
Archy [21]

Answer:

Modified Rebuy

Explanation:

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