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
wariber [46]
3 years ago
5

Suppose that the inverse demand equation is p​ = 100 minus 2Q and the supply equation is p​ = 2Q. If the price is controlled at

​$60​, this is a price floor . In this​ market, there will be a surplus of nothing units ​(enter your response as a real number rounded to one decimal place​).
Business
1 answer:
Irina18 [472]3 years ago
4 0

Answer: P =$50

Q= 25

Explanation: P= 100-2Q

P= 2Q

To get the quantity supplied Q, we have to educate both equations

100-2Q=2Q, 100=2Q+2Q

100=4Q, Q=100/4 , Q=25

To get the equilibrium price we have to substitute the value of Q which is 25 into any of the equation.

Using equation 1

P=100-2Q, P=100-2(25)

P=100-50, P=$50.

If the price is controlled at $60, then the production pays the producer this is because a commodity is not expected to be sold at the equilibrium price, price flooring is a way that government or a group control the market price of a commodity or produce by imposing a particular price on it. This is to ensure that the producers are not at loss with their production, a price floor is always higher than the equilibrium price to be effective as seen in the example given above, price floor is $60 while equilibrium price is $50.

An example of a price floor for services can be seen in the minimum wage stated by the government this is to ensure that people's services are not misused anyhow.

Price flooring most times can lead to surplus quantity produced if consumers are not willing to pay the price, because the producer will be wiling to produce more in order to make more profit.

You might be interested in
A toy manufacturer has just learned that the small, button nose on the stuffed teddy bear it produces might detach and become a
ale4655 [162]

Answer:

The correct answer option is B

Explanation:

The company would issue a statement apologizing for the choking hazard and recall the stuffed bears.

A defense strategy is one in which the toy manufacturing company accepts responsibility for a problem, even though they would do the least required to meet societal expectations.

The toy manufacturer might issue a statement apologizing for the choking hazard and recall the stuffed bears. In this case the company has accepted responsibility and done the least required to meet societal expectations.

5 0
3 years ago
Blair Housewares wants to add new products to its existing line of products. Managers are correct in believing that the purpose
Zinaida [17]

Answer:

False

Explanation:

The general purpose of idea generation is to come up with the largest amount of possible ideas, it doesn't matter how crazy they might seem.

The purpose of succeeding stages will be to funnel the ideas and only work and develop the most promising ones.

3 0
3 years ago
Budgeted financial statements are financial statements based on budgeted amounts rather than actual amounts.
Tasya [4]

Answer:

The statement is True.

Explanation:

Budgeted financial statements are prepared for a future period of time. So that it is easy to anticipate certain fixed and variable costs and allocate financial resources to them.

Also, Budgeted financial statement are useful during the strategic planning process and planning on future business expansions.

3 0
3 years ago
A in the expected future exchange rate ______ the demand for u.s. dollars. in the u.s. demand for imports _______ the demand for
KIM [24]

A in the expected future exchange rate increases the demand for u.s. dollars. in the u.s. demand for imports does not change the demand for u.s. dollars.

In economics, demand is the number of goods that consumers are willing to purchase at various prices in a particular location and during a particular period of time. [1] The relationship between price and quantity demanded is also called the demand curve. Demand for a particular item is a function of perceived need, price, perceived quality, convenience, available alternatives, disposable income, buyer preferences, and many other options.

Demand refers to the consumer's willingness to buy and pay for goods and services without hesitation. Simply put, demand is the number of items that customers are willing to purchase at various prices over a period of time.

Learn more about demand here

brainly.com/question/1288364

#SPJ4

8 0
2 years ago
Which goal incorporates most of the criteria required for a SMART goal?
stellarik [79]

Answer:

E. Zeenat plans to become a kindergarten teacher, she has a part-time job to help finance her education and plans to obtain her graduate degree in education in three years.

Explanation:

SMART stands for SPECIFIC, MEASURABLE, ATTAINABLE, REALISTIC, TIME-HORIZON.

if look at the above answer, it has all the qualities of a SMART goal.

8 0
3 years ago
Read 2 more answers
Other questions:
  • Assume that the full-employment level of output is $2,000 and the price level associated with full-employment output is 100. Als
    11·1 answer
  • What are three ways to increase productivity?
    12·1 answer
  • Select the correct answer.
    12·2 answers
  • The following unit data were assembled for the assembly process of the Super Co. for the month of June. Direct materials are add
    7·1 answer
  • Which of the following is not a problem associated with monetary​ policy? A. Monetary policy may be ineffective if investment an
    14·1 answer
  • The construction industry uses which of the pricing methods
    5·1 answer
  • What is division of duties
    8·1 answer
  • Let’s assume that the total possible number of job evaluation points is 875 rather than 1,000. Based on the following weighting
    5·1 answer
  • List what you are thankful for! (((It's Thanksgiving (here)! Answer if you bake! Or if you like cakes pies cookies and treats!!!
    13·1 answer
  • True or false: the interval measure indicates how long a start-up company can operate until it needs more financing.
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!