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Dmitry_Shevchenko [17]
3 years ago
12

If a government-imposed price floor legally sets the price of milk above market equilibrium, which of the following will most li

kely happen?
a. The quantity of milk demanded will increase.
b. The quantity of milk supplied will decrease.
c. There will be a shortage of milk.
d. There will be a surplus of milk.
Business
1 answer:
inessss [21]3 years ago
8 0
B - The quantity of milk supplied will decrease
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Complete Question:

A supervisor finds the mean number of miles that the employees in a department live from work. He finds x=2.9 and s=3.6. Which statement must be true?

z376 is within 1 standard deviation of the mean.

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Answer:

z37 is between 2 and 3 standard deviations of the mean.

Explanation:

Standard deviation is a way of measuring of how much the value sample varies or disperses. A low standard deviation means that the values are near the mean value of the set, whereas a high standard deviation implies that the values are distributed over a wider range.

In reasonably average data sets, the values reflect about 68 per cent of the sample within 1 standard deviation from the mean; about 95 per cent in 2 standard deviations; and about 99.7 per cent within 3 standardized deviations.

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Under the market system, prices coordinate the decisions made by households and businesses.

<h3>What is a market system?</h3>

It should be noted that a market system simply means an economy whereby the individual makes choices in the market and decisions.

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