1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
podryga [215]
2 years ago
7

If the equilibrium price of avocados is $4 and the government issues a price ceiling of $4.50, what is likely to happen in the m

arket for avocados? Group of answer choices The equilibrium price will remain unchanged from the price ceiling. The equilibrium price will rise to $4.50 as a result of the price ceiling. A shortage of avocados will result from the price ceiling. A surplus of avocados will result from the price ceiling.
Business
1 answer:
Marat540 [252]2 years ago
6 0

Answer:

A surplus of avocados will result from the price ceiling.

Explanation:

A price ceiling is when the government or an agency of the government sets the maximum price for a good or service.

A price ceiling is binding when it is set below equilibrium price.

The price ceiling ($4.50) is less than the equilibrium price ($4) of avocados. As a result, surplus would increase. The supply of avocados would exceed the demand because price ceiling is above equilibrium price

You might be interested in
A savings account earns 8% interest. If $1,000 is invested, how many years is it until each of the following amounts is on depos
guapka [62]

Answer:

a. 4 years

b. 19 years

c. 19 years

d. 25 years

Explanation:

The number of years, n is calculated for each future value as follows :

a. $1,360

Pv = -  $1,000

Pmt = $ 0

P/y = 1

r = 8 %

Fv = $1,360

n = ?

Using a Financial Calculator, the number of years, n is 3.9953 or 4 years

b. $2,720

Pv = -  $1,000

Pmt = $ 0

P/y = 1

r = 8 %

Fv = $2,720

n = ?

Using a Financial Calculator, the number of years, n is 13.00 or 13 years

c. $4,316

Pv = -  $1,000

Pmt = $ 0

P/y = 1

r = 8 %

Fv = $4,316

n = ?

Using a Financial Calculator, the number of years, n is 19.00 or 19 years

d. $6,848

Pv = -  $1,000

Pmt = $ 0

P/y = 1

r = 8 %

Fv = $6,848

n = ?

Using a Financial Calculator, the number of years, n is 24.9991 or 25 years

3 0
3 years ago
When you get in a business, make a lot of money, and then get out, it’s referred to as a(n)
pantera1 [17]
The answer is hit and run business
6 0
2 years ago
Read 2 more answers
Martin Services Company provides their employees vacation benefits and a defined contribution pension plan. Employees earned vac
Umnica [9.8K]

Answer:

Explanation:

a. Provide the journal entry for the vacation pay

Employees earned vacation pay of $39,500 for the period.

                                                       Debit                   Credit

Vacation pay expense A/C          $39,500

Vacation payable A/C                                                $39,500

<em>(Being vacation pay accrued for periods) </em>

b. Provide the journal entry for the pension benefit.

9% of employee salaries and the salaries were $750,000

=> The pension plan requires a contribution to the plan administrator:  $750,000*9% = $67,500

                                                        Debit                   Credit

Pension expense                          $750,000

To cash A/C                                                                   $67,500

To unfunded pension liabilities                                   $683,500          

Hope it will find you well.        

7 0
3 years ago
In this scenario, Frankie must consider whether making one choice will force him to give up another.
aksik [14]
Based on the scenario above, the economic concept which Frakie is faced with is OPPORTUNITY COST. Opportunity cost refers to a benefit or value that a person could have received but which he gave up in order to take another course of action. Thus, an opportunity cost represents an alternative given up when a decision is made.
5 0
3 years ago
Read 2 more answers
Which margin size is most appropriate for a business card?
yan [13]
3.5 inches because the normal business card is 3.5 in × 2 in 
3 0
3 years ago
Read 2 more answers
Other questions:
  • On March 15, a fire destroyed Sheridan Company's entire retail inventory. The inventory on hand as of January 1 totaled $5900000
    15·1 answer
  • Otool Inc. is considering using stocks of an old raw material in a special project. The special project would require all 150 ki
    6·1 answer
  • Where do most banks get the text to explain their calculations of interest?
    7·1 answer
  • Why does a campground at a national park not necessarily count as a public good?
    10·2 answers
  • Making a down payment will _____. Select the best answer from the choices provided. A. decrease the interest rate on a loan B. i
    11·1 answer
  • These bonds are collateralized securities with first claims in the event of bankruptcy. These bonds are not backed by any physic
    8·1 answer
  • The current​ zero-coupon yield curve for​ risk-free bonds is as​ follows: Maturity ​(years) 1 2 3 4 5 YTM 4.99 % 5.53 % 5.73 % 5
    9·1 answer
  • Curtis needs to find an inexpensive technology that will enable his company's employees to share, organize, and update their rec
    11·2 answers
  • How can you determine the cost of something without concidering mearly its monitary value
    10·1 answer
  • Which of the following is an example of an in-group/out-group dynamic: Select one: a. Organizations across a college campus come
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!