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bonufazy [111]
4 years ago
11

True or false. Unintended market conditions, including black markets and shortages, can occur through the price restraint of a p

rice ceiling set above the market-clearing price.
Business
1 answer:
lana66690 [7]4 years ago
6 0

Answer:

false

Explanation:

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.

Price floor set above the market-clearing price is non binding

Effects of a binding price ceiling

1. It leads to shortages

2. it leads to the development of black markets

3. it prevents producers from raising price beyond a certain price

4. It lowers the price consumers pay for a product. This increases consumer surplus

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I Believe It’s Jerusalem.
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When the price of flour was $10 per unit, total spending on flour was $100,000 per day. When the price of flour fell to $8 per u
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3 years ago
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Marianna [84]

Answer:

D : $88,800

Explanation:

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Direct Material used in production                         $ 21,300

Indirect Material used in production                       $  3,700

Direct Labour                                                           $ 34,100

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Manufacturing overhead                                       <u> $ 16,600 </u>

Total Manufacturing cost                                        $ 75100

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Less: Ending Work in process inventory                <u>$ 0       </u>

Cost of Goods Manufactured                                 <u>$88,800</u>

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When a PR firm actively combines public relations, marketing, advertising, and promotion into a more or less seamless communicat
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Answer:

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