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
pickupchik [31]
3 years ago
11

Following the imposition of a price floor $2 above the equilibrium price, irate buyers convince Congress to repeal the price flo

or and to impose a price ceiling $1 below the former price floor. The resulting shortage is
Business
1 answer:
andrey2020 [161]3 years ago
5 0

Answer:

$3

Explanation:

A price floor is when the government or an agency of the government sets the minimum price of a product. A price floor is binding if it is set above equilibrium price.

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.

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

Shortage = $12 - $9 = $3

You might be interested in
In Lizzie Shoes’ experience, gift cards that have not been redeemed within 12 months are not likely to be redeemed. Lizzie Shoes
Romashka [77]

Answer:

Explanation:

In 2016, She should recognize 4000+3000+2500+2000=11500, because the gift cards in amount of $11500 were redeemed

In 2017, the remaining revenue should be recognized 18000-11500=6500

4 0
3 years ago
2. Buckeye Industries has a bond issue with a face value of $1000. The value of Buckeye’s asset is $1200. In one year they will
Leto [7]

Answer:

Buckeye Industries has a bond issue with a face value of $1000. The value of Buckeye’s asset is $1200. In one year they will be worth either $800 or $1400. The going rate on T-bill is 4 percent. What is the value of debt, equity, and interest rate on debt?

Explanation:

8 0
3 years ago
Ginger works for an organization that requires employees to engage in a variety of socially responsible projects as part of the​
zvonat [6]
<span>In order to continue participating in these projects and improve job satisfaction, the organization may choose to provide compensation for these projects. If the organization does not wish to pay employees extra, they could plan these projects to occur during working hours, so employees are still on the clock and getting paid.</span>
3 0
4 years ago
Lowering the price from $ 3.50 to $ 2.25 results in an output effect of ​$ nothing and a price effect of ​$ nothing. ​(Enter you
Citrus2011 [14]

Answer:

Question: Sally runs a vegetable stand. The following table shows two points on the demand curve for the heirloom tomatoes she​ sells:

                  Price                  Quantity demanded per week

                $ 3.00                         200,000

                 $ 1.75                         300,000

lowering the price from $3.00 to $1.75 results in an output effect of _______ and a price effect of _______

Answer: Output effect of = 1.75 * 100 = $175,000

              Price effect of =  1.25 * 200000

                                      = -$250,000

Explanation:

Output effect: there would be an increase in quantity sold by 100,000 units at $1.75. This gives the out to be sold

Price effect: since Sally reduces the price to $1.75, she would make a lose of $1.25 ($3.00 - $1.75) on the 200,000 units that could have been sold at $3.00

3 0
3 years ago
Read 2 more answers
George purchased a futures contract at 349. The contract is on 2500 units, requires a 10% margin deposit and is priced in cents
Romashka [77]

Answer:

-203.4%

Explanation:

Initial investment = 2,500*349*10%

Initial investment = 87,250

Return = (278 - 349) * 2,500 unit

Return = -71 * 2,500 unit

Return = -177,500

Return on invested capital = Return / Initial investment

Return on invested capital = -177,500/87,250

Return on invested capital = 2.034383954154728

Return on invested capital = -203.4%

3 0
3 years ago
Other questions:
  • easynotrcards Under a fixed exchange rate regime, if the domestic currency is initially undervalued, that is, above par, the cen
    15·2 answers
  • How does following the first in, first out method hope the storage supervisor
    7·1 answer
  • Imagine you are a journalist covering a scandal that may destroy a member of congress. you obtain your information from a source
    6·1 answer
  • On November 1, 2018, Quantum Technology, a geothermal energy supplier, borrowed $22 million cash to fund a geological survey. Th
    9·1 answer
  • Alex Smith rents storage space to college students who go home for the summer but do not want to haul all of their property home
    8·1 answer
  • Fortune Company's direct materials budget shows the following cost of materials to be purchased for the coming three months: Jan
    15·1 answer
  • Assume in a competitive market that price is initially below the equilibrium level. We can predict that price will:
    6·1 answer
  • A hamburger factory produces 40,000 hamburgers each week. The equipment used costs $5,000 andwill remain productive for 4 years.
    5·1 answer
  • The following information was taken from the records of Roland Carlson Inc. for the year 2017: income tax applicable to income f
    12·1 answer
  • Which of the following costs are likely to decrease as a result of better quality
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!