Answer: excess demand, underestimate
Explanation:
P= 1200 - 2Q
300= 1200 - 2Q
2Q = 1200 -300
2Q = 900
Q = 900/2
Q = 450
Quantity demanded is 450 units
Quantity supplied Q - P = 300
Excess demand = 450 - 300 = 150
The policy will lead to excess demand of 150 per month.
P= 1200 - 2Q
P= 1200 - 2(300)
= 1200 - 600
= 600
Willing to pay price is $600.
Deadweight loss = 0.5 × (Price buyers are willing to pay - ceiling price) × (market quantity supplied - ceiling quantity supplied)
= 0.5(600-300)(400-300)
= 0.5(300)(100)
= 15000
Deadweight loss is $15000
The welfare loss underestimate the actual loss
Aggregate supply (as) denotes, while holding the price of inputs fixed, the <u>price level of output</u> that firms choose to produce and <u>GDP.</u>
<h3>What is aggregate supply?</h3>
Aggregate supply is when goods and service produced or manufacture are made available to buyers or can be defined as the amount of goods produce and supply to the market at particular period of time.
Aggregate supply can tend to increase in a situation were the price of goods and services decrease or when the price of product fall.
Therefore, Aggregate supply donate, while holding the price of inputs fixed, the price level of output that firms choose to produce and Gross domestic product (GDP).
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<span>Upton Sinclair is the answer ^///^</span>
Unsought goods are characterized as being the type of goods at consumers aren't aware exist or that they have no interest in. Sometimes, these goods can be because they are a new brand that hasn't grabbed ahold of the market they are fully after. Brand awareness can play a huge part it why a consumer isn't purchasing. If the product doesn't fit the needs of the customer and they don't see the value in it, then there won't be any reason for them to make a purchase.