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qaws [65]
3 years ago
6

Imagine that to preserve the traditional way of life in small fishing villages, a government decides to impose a price floor tha

t will guarantee all fishermen a certain price for their catch.
Using the demand and supply framework, predict the effects on the price, quantity demanded, and quantity supplied.


With the enactment of this price floor for fish, what are some of the likely unintended consequences in the market?


Suggest some policies other than the price floor to make it possible for small fishing villages to continue.
Business
1 answer:
cestrela7 [59]3 years ago
6 0

Answer:

As a result of the price floor, price would increase. As a result, quantity demanded will decrease and the quantity supplied would increase.

Supply would exceed demand and as a result there would be an excess supply of fish.  

As an alternative to the price floor, the government can subsidise the cost of fishing. This would reduce the cost of producing fish

Explanation:

A price floor is when the government or an agency of the government sets the minimum price of a product. A price floor is binding if it is set above equilibrium price.

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At December 31, the records of Nortech Corporation provided the following selected and incomplete data:Common stock (par $1; no
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The following balances have been worked out from the information given in question;

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No. of Common stocks issued     $200,000/22         9,091

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No. of Treasury Stock                                                         3,000

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Retained Earnings ($155,000+$147,750-$49,250)           $253,500

                                                 

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3 years ago
Why is personal finance dependent upon your behavior?
AfilCa [17]

Personal finance depends on your behavior because you are the manager of your financial resources, so it is necessary to carry out personal planning of your finances.

Personal financial behavior can be measured by six dimensions, which are:

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Personal finances are directly impacted by our behaviors and decisions. Some of these behaviors are subconscious and difficult to identify, but they should be analyzed in case they negatively influence your finances.

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3 years ago
An agreement to exchange dollar bank deposits for euro bank deposits in one month is a:_________
koban [17]

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<h3>What is a forward contract?</h3>

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