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ddd [48]
3 years ago
12

A government-set price floor on a product rev: 05_07_2018 Multiple Choice will drive resources away from the production of the p

roduct. is intended to benefit the buyers of the product. will attract more resources towards the production of the product. does not interfere with the rationing function of price in a market system.
Business
1 answer:
Salsk061 [2.6K]3 years ago
6 0

Answer:

will attract more resources towards the production of the product

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.

Because price is set above equilibrium price, quantity supplied would exceed quantity demanded and there would be a surplus.

If price were set below equilibrium price (the price floor is non-binding) there would be shortages as quantity demanded would exceed quantity supplied

price floor benefits sellers

Due to increased profitability as a result of the high price as a result of price floor, there would be a resource flow into that industry

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Material delays have routinely limited production of household sinks to 400 units per day. If the plant efficiency is 80%, what
andreev551 [17]

Answer:

Effective capacity= 500 units

Explanation:

Effective capacity is defined as the maximum amount of product a manufacturing process can complete in a given period. Considering constraints such as delays, quality problems, and material handling.

Effective capacity is dependent on the design of the system. Design capacity is defined as the theoretical capacity of a system based on its design.

Effective capacity is calculated by dividing the actual capacity by efficiency.

Effective capacity= Actual Capacity/ Efficiency

Effective capacity= 400/0.8

Effective capacity= 500 units

5 0
4 years ago
Suppose that Marlen Fisher has legal protection against anyone producing and selling a fishing lure specifically named "MarFish.
ipn [44]

Answer: patent

Explanation:

A patent is given by the government

and it's a form of authority or licence to an organization which enables the organization to be the only one producing a particular product for a particular period of time.

This is illustrated in the question above where Marlen Fisher has legal protection against anyone producing and selling a fishing lure specifically named "MarFish."

3 0
3 years ago
Land originally purchased for $28,390 is sold for $74,057 in cash. What is the effect of the sale on the accounting equation
Elodia [21]

There is no effect on the accounting equation.

<h3>What is accounting equation?</h3>

Accounting equation is the one which states that a company's total assets are equal to the sum of its liabilities and its shareholders' equity.

Assets = owner's equity + liability

The above means that land is not depreciated, therefore assets decrease (-land) but also increase (+cash).

The elements of accounting equation are :

  • Assets
  • Liabilities
  • Shareholders' equity.

Learn more about account equation here: brainly.com/question/24401217

8 0
2 years ago
For every A you earn on your report card, your grandma gives you a twenty dollar bill. This is an example of
never [62]

Answer:

a positive incentive I think

Explanation:

8 0
3 years ago
In double entry bookkeeping, where should you record assets?
vekshin1
Hi there :-)

The answer is
A. In the left debits column

Hope it helps
5 0
4 years ago
Read 2 more answers
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