1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
gulaghasi [49]
3 years ago
11

Suppose that the federal government places a binding price floor on chocolate. To help support the price floor, the government p

urchases all of the leftover chocolate that consumers do not buy. If the price floor remains in place for a number of years, what do you expect to happen to each of the following?a) Quantity of chocolate demanded by consumers.b) Quantity of chocolate supplied by producers.c) Quantity of chocolate purchased by the government.
Business
1 answer:
Pavlova-9 [17]3 years ago
7 0

Answer And Explanation:

a) Quantity of chocolate demanded by consumers will decrease

This is because there is a minimum price which makes product more expensive. The higher the price, the less the quantity demanded

b) Quantity of chocolate supplied by producers will increase

This is because price has increased with the government's price floor. The higher the price, the higher the quantity supplied.

c) Quantity of chocolate purchased by the government will increase

This is because there is surplus supply and therefore government would need to buy more to support the price floor and buy leftover chocolates in the market

You might be interested in
Job 31 has a direct materials cost of $210 and a total manufacturing cost of $540. Overhead is applied to jobs at a rate of 200
Reika [66]

Explanation: what is this can you elaborate pls

7 0
3 years ago
Divesting of businesses can accomplish many different objectives, except _______.
Marysya12 [62]

Answer:

(C) dispersing manager focus

Explanation:

Manager focus should be always be.

he analysis and decision about wether to divest or not a division or product line requires the manager focus and the decision taken is done considering all the benefits and downside. Managers understand the cost of a divest and the potential in liberation of company's resouces into other areas or project.

If the manager disper then, they decision won't lead to the better outcome.

3 0
3 years ago
What is the point called where the supply curve and the demand curve meet?
disa [49]

Answer:

I would have to say, C Supply is how much of an item you have and demand is how much demand you have

3 0
3 years ago
Your parents have given you a new car on your 20th birthday for which they paid about $24,000. Assume this is also the price you
Svetllana [295]

Answer:

$24,300

Explanation:

The total economic cost is the cost of doing something or buying an item along with the opportunity cost of doing something else.

Total cost= Monetary cost + Opportunity cost

Opportunity cost is defined as the forgone alternative when an individual performs an action.

In this scenario the monetary cost of the car is the maintenance of gasoline and oil. That is 200+ 100= $300

The opportunity cost is the amount the car would have been sold for, which is the forgone alternative. That is $24,000

Therefore

Total cost= 300+ 24,000

Total cost= $24,300

6 0
4 years ago
Use the following to prepare the cash budget. What is the ending cash balance? Beginning cash balance $3,000; Cash receipts $50,
aleksley [76]

Answer:

 Ending cash balance = $13,000

Explanation:

<em>A cash budget is statement that shows the estimated cash receipts and the estimated cash payments for a forth coming accounting period. In addition, it provides information about the expected cash balance for the period to which it relates.</em>

With help of a cash budget, a business can plan ahead for  the usage of its surplus funds and how to finance its deficit cash position

Ending cash balance = Beginning cash balance + cash receipts - cash payment

             = 3,000 + 50,000 - 40,000

 Ending cash balance = $13,000

7 0
3 years ago
Other questions:
  • A "best practice" refers to: a policy or procedure that is unusually effective. a method of performing an activity or business p
    7·1 answer
  • How many airports are privatised in USA?
    14·1 answer
  • Locking a cell so that others cannot alter its contents is known as _____.
    5·1 answer
  • A merchandising company's budget includes the following data for January: Sales: $400,000; COGS: $270,000; Administrative salari
    6·1 answer
  • Based on your understanding of the different items reported in the balance sheet and the information they provide, which stateme
    7·2 answers
  • Why would decreased wages be an added problem for the Pullman workers?
    5·1 answer
  • The standard cost of product 5252 includes 1.90 hours of direct labor at $17.40 per hour. The predetermined overhead rate is $22
    11·1 answer
  • The following transactions of Plymouth Pharmacies occurred during 2017 and 2018:
    6·1 answer
  • __ involves having a variety of investments in your __
    7·1 answer
  • HELP PLEASE I HAVE 10 MINUTES
    9·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!