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3 years ago

Which of the following condition will both consumers and sellers benefit?

1 answer:

5 0

Answer: Option C) When supply equals demand.

The most common supply curve decreases with price. The most common demand curve increases with price. The point at which supply and demand curves intercept each other is the equilibrium point. At that point (equilibrium), there are consumers who are paying less than what they are willing to pay (generating a consumer surplus) and there are producers who are selling at a price that is higher than what they are willing to receive (generating a producer surplus), then both consumer and producers benefit.

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Suppose that, in a competitive market without government regulations, the equilibrium price of milk is $2.50 per gallon. Complet

Darina [25.2K]

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.

7 0

3 years ago

Vertical space can be utilized to gain more storage space?<br> True or False

alexandr402 [8]

<span>True. Vertical space can be used for more storage space, however in most storage units only fifty percent of the total storage is not utilized. Using vertical space will increase the storage space</span>

6 0

3 years ago

Read 2 more answers

Oriole Company has a balance in its Accounts Payable control account of $8,170 on January 1, 2020. The subsidiary ledger contain

dem82 [27]

Complete question:

Oriole Company has a balance in its Accounts Payable control account of $8,170 on January 1, 2020. The subsidiary ledger contains three accounts: Hale Company, balance $2,550; Janish Company, balance $1,580; and Valdez Company. During January, the following payable-related transactions occurred.

Purchases Payments Returns

Hale Company $6,529 $5,972 $ -0-

Janish Company 5,066 2,087 2,215

Valdez Company 6,647 6,790 -0-

What is the January 1 balance in the Freeze Company subsidiary account?

What is the January 31 balance in the control account?

Balances in the subsidiary accounts Bixler $ Cuddyer $ Freeze$

Which January transaction would not be recorded in a special journal?

Solution:

What is the January 1 balance in the Freeze Company subsidiary account?

8,170 - 2,550 - 1,580 = 4040

What is the January 31 balance in the control account?

8,170 + 6,529 + 5,066 + 6,647 - 5,972 - 2,087 - 6,790 - 2,215 = 1,995

Compute the balances in the subsidiary accounts at the end of the month.

Hale 2,550 + 6,529 - 5,972 = 3,107

Janish 1,580 + 5,066 - 2,087 - 2,215 = 2,344

Valdez 4040 + 6,647 - 6,790 = 3,897

Which January transaction would not be recorded in a special journal?

Returns Purchases Payments

The purchase return for Brown of $2,215

6 0

3 years ago

Which federal legislation requires lenders to provide consumers with loan cost information?

kykrilka [37]

Answer:

Consumer Credit Legislation.

Explanation:

Consumer credit legislation demands that lenders provide potential borrowers with one or more measures of the cost of a loan.

3 0

3 years ago

The Grameen Bank pioneered the idea of microfinance and microlending in the early 1980s. Many microlending operations today use

stellarik [79]

Answer:

The correct answer is Technology Adopters.

Explanation:

A technology adopter is someone who, taking into account the changes in the environment, accommodates them to try to give a better experience to the end user. Under this premise all the financial companies dedicated to money management work, since this allows for greater ease in credit management and effective communication with clients.

7 0

3 years ago