Answer:
The binding price floor will cause a surplus of wheat that farmers will be unable to sell.
Explanation:
The price floor is the lowest price that can be paid for goods, by binding price floor the senator requires by law a price for the goods above the equilibrium. The critics would say that since the wheat is binded price floor and cannot drop below the price stated by the senator, when the government inflate the price for the market the consumers will deny to pay the price stated and by that the consumption of wheat would fall creating a surplus of wheat, since the goods won’t be sold.
The answer is 1.True, 2.False, and the last question is either D or C
Answer:
A) The necklace is an identified good.
Explanation:
Even without advertising, consumer tastes change over time due to changes in The change could be triggered by a shift in income levels, consumer tastes, or a different price being charged for a related product.
A good for which consumers' tastes and preferences are greater, its demand would be large and its demand curve will therefore lie at a higher level. It is the most important factor.
An increase and decrease in total market demand is illustrated in the demand curve, a graphical representation of the relationship between the price of a good or service and the quantity demanded for a given period of time.
To know more about the demand curve here
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Answer:
The highest scoring playing in NBA regular season history is Wilt Chamberlain.
