Answer: excess demand, underestimate
Explanation:
P= 1200 - 2Q
300= 1200 - 2Q
2Q = 1200 -300
2Q = 900
Q = 900/2
Q = 450
Quantity demanded is 450 units
Quantity supplied Q - P = 300
Excess demand = 450 - 300 = 150
The policy will lead to excess demand of 150 per month.
P= 1200 - 2Q
P= 1200 - 2(300)
= 1200 - 600
= 600
Willing to pay price is $600.
Deadweight loss = 0.5 × (Price buyers are willing to pay - ceiling price) × (market quantity supplied - ceiling quantity supplied)
= 0.5(600-300)(400-300)
= 0.5(300)(100)
= 15000
Deadweight loss is $15000
The welfare loss underestimate the actual loss
I live in Indiana all I did was go to the court house and filled they ask you a lot of questions about times and dates and any witness. It was free.
The correct answer that would best complete the given statement above would be the term LAW OF DEMAND. The law of demand states that <span>the quantity demanded of a product varies inversely with its price, as long as other things do not change. Hope this answers the question. </span>
Answer:
Toni must report the whole fair market value as his income
Explanation:
According to the tax laws you must report the whole FMV as your income
Answer:
$261.42
Explanation:
economic order quantity (EOQ) = √(2SD/H)
S = cost per order = $31
D = annual demand = 776 x 12 = 9,312
H = holding cost = $9 x 36% = $3.24
EOQ = √[(2 x $31 x 9,312) / $3.24] = √178,192.59 = 422.13 ≈ 422
total ordering and holding costs considering EOQ:
ordering costs = (9,312 / 422) x $31 = $684.06
holding costs = $3.24 x (422/2) = $683.64
total = $1,367.70
current costs:
ordering costs = $31 x 12 = $372
holding costs = $3.24 x (776/2) = $1,257.12
total = $1,629.12
annual savings = $1,629.12 - $1,367.70 = $261.42
