Sheffield windows manufactures and sells custom storm windows for three-season porches. sheffield also provides installation service for the windows. the installation process does not involve changes in the windows, so this service can be performed by other vendors. sheffield enters into the following contract on july 1, 2020, with a local homeowner. the customer purchases windows for a price of $2,520 and chooses sheffield to do the installation. sheffield charges the same price for the windows irrespective of whether it does the installation or not. the installation service is estimated to have a standalone selling price of $600. the customer pays sheffield $2,040 (which equals the standalone selling price of the windows, which have a cost of $1,110) upon delivery and the remaining balance upon installation of the windows. the windows are delivered on september 1, 2020, sheffield completes installation on october 15, 2020, and the customer pays the balance due.

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the answer is "b.the increased supply will create a surplus. "

the essential thought behind price controls is straightforward - utilize the power of law to modify the equilibrium of a market. for instance, the legislature may choose that the steel business needs to survive, and in this way pass a law to set a value floor on steel. this implies all steel sold must offer at or over the floor value, which must be set over the equilibrium cost for it to have any impact. the switch could likewise happen - the administration can choose that steel is excessively costly and set a value roof underneath its equilibrium value, with the goal that all steel must be sold at or beneath that ceiling.