Answer:
The answer is. C) any buyer who is willing and able to pay the price will find a seller for the product.
Explanation:
At a product's equilibrium price, the quantity demanded of the product equals the quantity supplied of the product. So that means that there will always be a supplier willing to sell the product to any consumer who is willing to pay for that product.
Uruguay was the primary usa inside the global to legalize and regulate the Production, delivery, and leisure use of hashish. TRUE
Production is the system of manufacturing items and services to satisfy human needs. The product is the end result of the method. The 4 elements of manufacturing are land, capital, labour, and business enterprise. An instance of production is the manufacturing of motors. motors are made by way of assembling elements together. as an example, rubber tires are brought to metal our bodies to make seats installed earlier than the automobile is pushed off the manufacturing line.
“Production is the organized interest of remodeling resources into finished merchandise in the form of products and offerings; the objective of manufacturing is to fulfill the call for such converted sources”.production is one of the most vital procedures inside manufacturing, and is a middle part of what it approaches to be a manufacturer. without this activity, no completed items would be created, and there would be not nothing to promote to clients.
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Answer and Explanation:
According to the scenario, computation of the given data are as follow:-
Price ceiling:-This is show the limit of the price on maximizing value of the product which is decided by government and his imposed group for customer.
Binding:-The binding price ceiling is below the equilibrium price.
Unbinding:-The unbinding price ceiling is above equilibrium price.
Price floor:-This is show the limit of the price on lower value of the product which is decided by government and his imposed group for customer. A price floor must be higher than the price equilibrium price in order to be effective.
Binding:-The binding price floor is above the equilibrium price.
Unbinding:-The unbinding price floor is below the equilibrium price.
It is given that the equilibrium price of milk is $2.50 per gallon.
Statement 1:-This is the example of price floor and binding because minimum price of $2.30 per gallon is decided.
Statement 2:-This is the example of price floor and binding because minimum price of $3.40 per gallon is decided for gasoline.
Statement 3:-This is the example of price floor and binding because teenagers are not hired due to minimum-wage laws.
Answer:
The choice between consumption in the present and consumption in the future, perception of a close correlation between current income and consumption, and the smoothing of consumption over time as deriving from its comparison to the income which the individual would perceive as his/her permanent income.