Answer:
Price Floor led Excess Supply can be solved by : Preserving goods Buffer Stock ; or processing goods to increase their shelf life (in case of perishable goods like Milk)
Explanation:
Unregulated markets are at equilibrium where : market demand , market supply are equal ; and downward sloping demand curve , upward sloping supply curve intersect.
Price Floor is minimum mandated price set by government, below which a good can't be sold in the market. It is usually set above equilibrium price, to protect interest of sellers. Example : Minimum Support Price as minimum agricultural goods price to protect interest of farmers, Given Milk Price floor case.
Price Floor creates artificially higher prices ; so increases supply, decreases supply & hence creates Excess Supply. Government can solve this excess supply by preserving stock supply for contingent times , eg - maintaining buffer stock. If the good is of perishable nature, as given milk case : it should be processed further to increase its shelf life, eg - cheese, such that the stock supply can be released at a slower pace.
ZERO amount would the insurance company pay for vandalism that does $425 of damage to a home if the insured homeowner has a $500 deductible.
( Because the deductible exceeds the loss or the damage. The loss is $425 and the deductible is $ 500, so here the deductible exceeds the loss hence the insurance company will not pay anything).
People like you pay premiums to insurance companies to cover potential losses related to their property. Insurance companies receive these premiums and aggregate them into money pools. These funds are available to cover losses incurred by pool members.
When you report a car accident to the insurance company, the insurance company will send an adjuster to assess the damage. The expert's first task is to decide whether to classify the vehicle as a total loss. Assuming the vehicle is a total loss, the expert performs a valuation and assigns a value to the vehicle.
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You run out and call 911 or whatever the number is for you and if you’re on fire stop drop and roll because if you run you’re only giving the fire more oxygen
Answer:
$50
Explanation:
Net income will be the difference between the selling price and the Cost price.
Cost price is $1000
net profit margin is 5%, selling price will be
=$1000 + profit margin
= $1000 + (5/100 x 1000)
=$1000 + $50
=$1050
Net income = $1050 -$50
=$50
