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kozerog [31]
3 years ago
15

From an Associated Press article on Venezuela dated January 22, 2008: "... troops are cracking down on the smuggling of food ...

the National Guard has seized about 750 tons of food ... [President] Hugo Chàvez ordered the military to keep people from smuggling scarce items like milk ... He's also threatened to seize farms and milk plants ..."
These actions were the result of a price ceiling on food. Which zone (represented by a letter) on the graph reflects this policy, and what does it create?


A. Letter A; supply exceeds demand, resulting in a surplus


B. Letter B; supply exceeds demand, resulting in a shortage


C. Letter C; demand exceeds supply, resulting in a shortage


D. Letter D; demand exceeds supply, resulting in a surplus

Business
1 answer:
Sunny_sXe [5.5K]3 years ago
5 0

Answer:

C. Letter C; demand exceeds supply, resulting in a shortage

Explanation:

I had put my answer as A on the test and got it wrong. But this is the correct answer C.

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The substitution effect is the concept that if the price of x goes ________ , there will be an increase (shift right) to x away
oksian1 [2.3K]
The answer is right, if not are there choices
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3 years ago
A business school would like to know that whether the average number of years of work experience of MBA applicants is less than
VMariaS [17]

Answer:

The test statistic t of the sample is -0.804.

There is sufficient evidence to ascertain that the average number of years of work experience of MBA applicants is less than 3 years.

Explanation:

Null hypothesis: The average number of years of work experience of MBA applicants is 3 years.

Alternate hypothesis: The average number of yet of work experience of MBA applicants is less than 3 years.

Test statistic (t) = (sample mean - population mean) ÷ sd/√n

sample mean = 2.57

population mean = 3

sd = 3.67

n = 47

t = (2.57 - 3) ÷ 3.67/√47 = -0.43 ÷ 0.535 = -0.804

Assuming a 5% significance level

degree of freedom = n - 1 = 47 - 1 = 46

The critical value corresponding to 46 degrees of freedom and 5% significance level is 2.013.

Conclusion:

Reject the null hypothesis because the test statistic -0.804 is less than the critical value 2.013.

The years of work experience of MBA applicants is less than 3.

5 0
3 years ago
Why is the demand for most services--such as popular restaurants--extremely time-and-place dependent?
arlik [135]
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8 0
3 years ago
A stock is trading at $58. You believe there is a 70% chance the price of the stock will increase by 10% over the next 3 months.
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Answer: $498

Explanation:

A Put is an option that will only be exercised if the price of the underlying security which is the stock in this case, falls below the current price of $58.

This means that we will not include the 70% chance of increase in our calculation.

In a contract, there are 100 shares.

Expected profit = Contract price - (Prob. of dropping by 10% * 10% of stock) - (Prob. of dropping by 20% * 20% of stock)

= 730 - ( 20% * 10% * 58 * 100) - (10% * 20% * 58 * 100)

= 730 - 116 - 116

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3 years ago
Regulatory policy is a balance between ___________________ safety and ____________________ rights.
Lana71 [14]

Answer:

protecting

constitutional

Explanation:

7 0
2 years ago
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