Question Completion:
What is a price floor?
Answer:
A price floor of $2 for milk producers across Arizona and nationwide means that the government does not want the price of milk to fall below $2. This measure enables dairies to remain in operation. It favors producers to the detriment of consumers, at least in the short-run.
Explanation:
However, assuming that the market was efficient before the price floor was introduced by the government, the price floor of $2 per gallon for milk could cause a deadweight loss to occur. In Economics, a deadweight loss reduces economic efficiency. It implies that consumers pay a higher price for the same quantity of goods they were purchasing before the price floor was introduced. Thus, the reaction of consumers would be to reduce their demand or drop out of the market entirely (instead of producers dropping out of the market through the normal operation of the market forces).
The correct answer to this question is this one: "Secured Loan."
Howard's bank gave him a personal loan because they found him creditworthy. The type of loan that Howard should get is secured loan.
Answer:
The perception of unfairness
Explanation:
The perception of unfairness
the feeling of unfairness come when one feel unjust and unequal. It is a feeling of inequality or partiality toward one.
In the above situation Jane feel unfairness due to the fact that in-spite of being at same level with the other colleagues and showing same performance, company decide to suspend her.
Explanation:
At equilibrium demand price=supply price
Therefore consumer surplus is 15 units.
The complete question should be:
If a radio station holds an online contest in which you must log in to its website and submit personal details such as name, phone number, and e-mail in order to participate, the radio station is:
A.) Offering an exchange.
B.) Hoping to receive feedback.
C.) Overstepping its role.
D.) Implementing a CRM program.
E.) Behaving unethically.
Answer: Offering an exchange.
Explanation:
The radio station is giving their users an offer in the form of an exchange, where a prize is to be won in exchange for personal data submitted by their users. An exchange takes place between two or more individuals, where each individual gives away an item to receive another.
