Answer:
Getting an after-school job and convincing friends to get a job too.
Explanation:
Answer:
k Nishant
Explanation:
the correct answer is option C feelings
ok so she is selling the card for .75 but makes a profit of .35
.75-.35=.4 (what wasn't profit) divid 42 by .4
42/.4=105+42 (have to add in profit portion) =$147 Gross income
Everybody gets hurt during a recession. During a recession, output falls and as a result, unemployment rises. Employees, family members etc. are affected as many persons lose jobs and those who are seeking jobs are unable to find.
The question asks which of the following, but there are no choices. I don't know if it is supposed to be answered in context to a specific situation, so I'll just explain what happens with price ceilings in general.
Assuming the government sets the ceiling below the equilibrium price (where supply and demand cross), demand will be higher while supply will be lower. This is due to the fact that consumers want to buy more since the drinks are cheaper, and producers want to produce fewer bottles since they are not making as much money. This creates a shortage.
The new quantity supplied will be where the supply curve crosses the horizontal price ceiling line, and the new quantity demanded will be where the demand curve crosses the price ceiling.
If we were to draw the graph of supply and demand, the area to the left of the equilibrium point and between the supply and demand curves represents total surplus. The area above the equilibrium price (NOT the price ceiling) and below demand is consumer surplus because there is extra value that consumers are willing to pay, however they don't have to because the price is lower. The area below the equilibrium price and above supply is producer surplus because The price is higher than the minimum value the producer has for the product.
That being said, with a price ceiling in place, the new price is lower and the quantity supplied is less. That means that there is less total surplus. This results in deadweight loss.
