Answer:
Binding
$100
200
200
Shortage
Explanation:
A price ceiling is when the government or an agency of the government sets the maximum price for a good.
A price ceiling is binding when the price ceiling is below the equilibrium price.
To find the equilibrium price, equate qs to qd because at equilibrium, quantity supplied is equal to quantity demanded.
2P = 300 - P
3P = 300
P = 100
Equilibrium price is $100.
$100 > $90. Therefore, price ceiling is binding.
To find quantity supplied, plug in the value of P into the equation for quantity supplied
QS = 2(100) = 200
To find quantity demanded, plug in the value of P into the equation for quantity demanded
QD = 300 - 100 = 200
when price is below equilibrium price, quantity demanded increases while the quantity supplied decreases. This leads to a shortage.
I hope my answer helps you
Answer:
A) Yes, the employment contract has been breached, but the non-competition agreement has not been breached.
Explanation:
Xuechen signed a three year employment contract which she breached after a short time by quitting her job. The non competition agreement that she signed required her not to work as a chef for another restaurant, but since she is working as a manager, then she didn't breach that contract.
Answer:
Total cost of Job A3B= $31,900
Explanation:
Job A3B was ordered by a customer on September 25.
The company applies overhead at a rate of 100% of the direct labor cost incurred.
Cost of September:
$3,400 of direct materials
$4,900 of direct labor.
$4,900 manufactured overhead
Total= $13,200
Cost of October:
$3,900 of direct materials
$7,400 of direct labor
$7,400 manufactured overhead
Total= $18,700
Total cost of Job A3B= 13,200 + 18,700= $31,900
Answer:
The correct answer is option a.
Explanation:
The aggregate demand curve shows the demand for goods and services by the economy as a whole. It comprises of consumption expenditure, government expenditure, investment expenditure, and net exports.
The aggregate demand curve in the short run is downward sloping because an increase in the price level reduces the real money holdings. It reduces purchasing power. So the amount of expenditures gets reduced as well.
