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zmey [24]
3 years ago
13

Review Question 1 What is meant by deadweight​ loss? Why does a price ceiling usually result in a deadweight​ loss? Deadweig

ht loss is a​ _____________________. A price ceiling results in a deadweight loss when the ceiling price is set​ ________________ the market clearing price. A. net loss in​ output; above B. net loss of consumer and producer​ surplus; below C. net loss in​ output; below D. net loss of consumer and producer​ surplus; above Click to select your answer and then click Check Answer. All parts showing
Business
1 answer:
KiRa [710]3 years ago
8 0

Answer:

b

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.

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.  

The dead weight loss is the reduction in total surplus as a result of price setting. When price is set below equilibrium price, less goods are produced and consumed. This leads to a reduction in consumer and producer surplus

Consumer surplus is the difference between the willingness to pay of a consumer and the price of the good.

Producer surplus is the difference between the price of a good and the least price the seller is willing to sell the product

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What G-ocentric model would you understand and predict a limited portion of an employee performance
OlgaM077 [116]

The G-ocentric model of intelligence and general ability or intelligence is synthesized from the geocentric theory of the universe.

<h3>Geocentric theory of the universe. </h3>

The geocentric theory of the universe purports that the earth is at the center of the Universe.

In the same vein, the G-ocentric model of the intelligence of man theorizes that one's general ability (which also is the most important ability) is at the center of that person and that all other skills revolve around it.

<h3>Employee performance and "g"</h3>

Taking it a step further, It was theorized that g - which is general ability is able to predict job conventionally. This meant that if an employer of labor used only intelligence to select the best candidate, overall performance from the employee would be maximized.

More recent research has proven that this theory is wrong. Ptolemy of Alexandria is responsible for developing the geocentric model in the second century.

See the link below for more about Ptolemy of Alexandria (also known as Claudius Ptolemaeus) view:
brainly.com/question/24988466

3 0
2 years ago
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Supply is the amount needed.<br> O True<br> O False
MaRussiya [10]

Answer:

true

Explanation:

because supply is like supplies

4 0
3 years ago
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_______ is considered the marketspace that bring lenders and borrowers together.
nika2105 [10]

<u>The financial market</u> is considered the marketspace that bring lenders and borrowers together.

The Financial markets is considered any marketplace where the trading of securities may occurs, including the  bond market, stock market, forex market, and derivatives market, and many others. This way financial market  bring lenders and borrowers together.

These financial markets play a great role in facilitating the smooth operation of the capitalist economies, thus by allocating resources and creating liquidity for businesses and entrepreneurs. Also, such markets trade in all types of securities.

Hence, these financial markets make it easy for buyers and sellers to trade their financial holdings while coming together.

To learn more about financial markets here:

brainly.com/question/16623249

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3 0
2 years ago
Assume the real rate of interest is 3.00% and the inflation rate is 6.00%. What is the value today of receiving 14,488.00 in 13.
OverLord2011 [107]

Answer:

Present Value= $15,874.25

Explanation:

Giving the following information:

Assume the real rate of interest is 3.00% and the inflation rate is 6.00%. What is the value today of receiving 14,488.00 in 13.00 years?

<u>This is a rare case where the interest rate is negative:</u>

Interest rate= 0.03 - 0.06= -0.03

Having said this, the present value is higher than the final value:

PV= FV/ (1+i)^n

PV= 14,488/ 0.97^3= $15,874.25

6 0
3 years ago
Describe a vestigial organ
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something that is present but no longer used by an organism such as a tailbone or appendix in humans
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