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erma4kov [3.2K]
3 years ago
5

Suppose market demand and supply are given by Qd = 100 − 2P and Qs = 5 + 3P. If the government sets a price floor of $30 and agr

ees to purchase all surplus at $30 per unit, the total cost to the government will be:
(A) 1650
(B) 1375
(C) 900
(D) 1125
Business
1 answer:
Blizzard [7]3 years ago
4 0

Answer: $1650

Explanation:

Quantity Demanded = 100 - 2P

Quantity Supplied = 5 + 3P

Price floor = $30

To get quantity demanded and quantity supplied, put the value of price into the functions given.

Qd = 100 - 2P

= 100 - 2(30)

= 100 - 60

= 40

Qs = 5 + 3P

= 5 + 3(30)

= 5 + 90

= 95

Since quantity supplied is 95 and quantity demanded is 40, the surplus will be 95 minus 40 which gives a value of 55.

Since the government has agreed to buy every surplus for $30,

Value of surplus= 55 units × $30 = $1650.

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Mrrafil [7]

Answer:

Letter A is correct

Explanation:

In consultative selling, the salesperson's function is not only to sell products, in this type of sales strategy, the salesperson must adapt a set of techniques that work together to provide the sales service together with a consultancy, that is, listening to the customer. , answer their needs and ask questions so that communication with the customer goes smoothly so that the salesperson can get optimal feedback and then design an appropriate sales strategy that will be ideal for that customer.

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Garcia Company issues 11.5%, 15-year bonds with a par value of $450,000 and semiannual interest payments. On the issue date, the
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Answer:

                                  Journal Entry

Date   Account Titles and Explanation         Debit          Credit

Jan 1   Cash                                                    $511,875

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2 years ago
If the same number of units of good Y must be given up as each successive unit of good X is produced, then the PPF for these two
andrey2020 [161]

Answer:

PPF : Downward Sloping Straight Line

Explanation:

PPF is the locus of product combinations that an economy can produce, given resources & technology.

It is downward sloping : Because of inverse relationship between two goods- if one has to be increased other has to be decreased , because of same resources & technology.

Marginal Opportunity Cost (Slope of PPC): is ratio of a good sacrifised to gain each additional unit of the other good.

∆ Good sacrifised / ∆ Good gained

If this ratio is same i.e constant amount of a good is sacrifised to gain an additional amount of the other one , the slope of PPC is constant & it is a straight line

Eg : Good1    Good2     MOC [∆Good2/∆Good1]

      0               20             _        

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So , same (1) good 2 is sacrifised to attain a good 1 each time.

However Generally: MOC is increasing , because of assumption that resources are unequally efficient in various goods production - shifting good from efficient to inefficient increases sacrifise each time. This makes PPC usually concave.

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