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bija089 [108]
2 years ago
5

In one version of the experiment, the professor plans to put a ceiling of $11 on prices. That is, no one will be permitted to su

bmit a bid or an asking price greater than $11. Will this be a binding price ceiling? That is, will the price ceiling affect the prices that buyers and sellers agree to when they trade?
Business
1 answer:
Mashcka [7]2 years ago
5 0

Answer:

no

Explanation:

given data

ceiling = $11

solution

we know here professor is planing put  ceiling = $11 on prices

but no one is permitted submit bid greater than of $11

so we know at price = $11 most of the consumer will be able to buy product

and market actually clear at $10

so cost to producer fall below = $11

hence the price ceiling at $11 here it will not be binding

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Answer:

15%

Explanation:

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3 years ago
Vaughn Manufacturing can sell all the units it can produce of either Plain or Fancy but not both. Plain has a unit contribution
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Answer:

Vaughn should produce Plain as it makes greater profit.

Explanation:

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2 years ago
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