Answer:
A. The quantity demanded for bread will decrease , quantity supplied will increase
Explanation:
PRICE FLOOR is the minimum mandated price set by government , usually above equilibrium price , to ensure producers' protection (if market price is perceived to be low) . EG : Minimum Support Price for agricultural products to protect farmers .
However at this raised price : There is Excess Supply , as Quantity Supplied increases with price increase (law of supply - price & supply direct relationship) , Quantity Demanded falls (law of demand - price & demand inverse relationship)
<span>c. no competition.is the answer</span>
Answer:
<em>Economic growth refers to a steady increase in the production of goods and services in an economic system.</em><em> </em><em><u>True</u></em>
Ice Cream. E<span>lasticity is higher when the good are luxuries and ice cream has </span>to actually be made.
Although one would repair at the most time of 76 minutes, the other is at most 77.1 minutes. I would pick the second one because they may take longer by 1.1 minutes at most, they also included seconds, which seems more like an honest bid time.
