When a certain price control is imposed on this market, the resulting quantity of the good that is actually bought and sold is such that buyers are willing and able to pay a maximum of P 1 dollars per unit for that quantity and sellers are willing and able to accept a minimum of P 2 dollars per unit for that quantity. If P 1 − P 2 = $3, then the price control is a. only a price ceiling of $3.00. b. only a price ceiling of $6.00. c. only a price floor of $6.00. d. either a price ceiling of $3.00 or a price floor of $6.00.
Answers
Answer:
attached below is the missing figure
either a price ceiling of $3.00 or a price floor of $6.00. ( D )
Explanation:
P1 - P2 = $3
P1 = maximum amount a buyer is willing to pay
P2 = minimum amount a selling is willing to accept
The price control :
The price ceiling and the price floor of the market can act as the price control and the price ceiling is usually lower than the price floor hence the price control will be :
either a price ceiling of $3.00 or a price floor of $6.00.
If P 1 − P 2 = $3, then the price control is either a price ceiling of $3.00 or a price floor of $6.00. Option (D)
What is Price and quantity?P1 - P2 is = $3
P1 is = maximum amount a buyer is willing to pay
Then P2 is = minimum amount a selling is willing to accept
When The price control is:
When The price ceiling and also the price floor of the market can act as the price control and also the price ceiling is usually lower than the price floor hence the price control will be :
Therefore, Option 'D' is Correct either a price ceiling of $3.00 or a price floor of $6.00.
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Water is not an unlimited source, yet people are treating it as such. There are various reasons why today when we have so much knowledge and various technologies, water is scarce. Some suffer witch water shortage because of natural reasons, such as their country not being positioned well regarding water sources. Other reasons can be human-made, such as the privatization of water and water sources
If you just put in this you will get 100% without it being to big, giving it away if u were not allowed to get answers.
Explanation:
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Explanation:
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Answer:
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Answer:
Explanation:
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[tex]\huge\boxed{\fcolorbox{cyan}{red}{Answer}}[/tex]
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Answers
Answer:
Any collection of individuals is considered to be a social group.
Answer:
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Answer:
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Explanation:
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Answer:
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Constantinople's geographic location offered significant advantages for trade due to its strategic positioning.
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Answer:
c.24 hours
Explanation:
Answer:
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Answer:
Explanation:Inflation will benefit those with large debts who, with rising prices, find it easier to pay back their debts.
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Answer:
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Answer:
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Explanation:
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