George and Miguel are considering opening up a shoe store but first need to do market research. Which one of these is NOT part o
1 answer:
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Answer:
no surplus or shortage
Explanation:
Equilibrium price is the price at which quantity demand equal quantity supplied. Above equilibrium price there is a surplus - quantity supplied exceeds quantity demanded.
Below equilibrium price there is a shortage - quantity demanded exceeds quantity supplied
If demamd increases by 100, new equilibrium is 40
Thus, ceiling price equal equilibrium
Price ceiling is when the government or an agency of the government sets the maximum price for a product. It is binding when it is set below equilibrium price.
Effects of a binding price ceiling
It leads to shortages
it leads to the development of black markets
it prevents producers from raising price beyond a certain price
It lowers the price consumers pay for a product. This increases consumer surplus
Answer:
Explanation:
We must do ledger for each accounts, most of them only got one transaction so we just post them directly.
For cash we must do it as there are several transaction:
CASH
<u>DEBIT CREDIT</u>
18,000
(7,540)
(4,600)
(890)
36,000
<u> (3,370)</u>
37,600
Assets and expenses goes into debit column
Liabilities, equity and revenues into credit column