Business
Business, 05.08.2019 00:00, laura1649

Aprice ceiling is the lowest price a seller can charge without losing all of its customers. a legal minimum price below which a good or service cannot be sold. a nonprice rationing device. a legal price above which a good or service cannot be sold.

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Business, 22.06.2019 00:30, johnkings140
Aprice ceiling is “binding” if the price ceiling is set below the equilibrium price. suppose that the equilibrium price is $5. if a price ceiling is set at $6, this will not affect the market in any way since $5 remains a legally allowable price (since $5 < $6). a price ceiling of $6 is called a “non-binding” price ceiling. on the other hand, if the price ceiling is set at $4, the price ceiling is “binding” because the natural equilibrium price is $5 but that is no longer allowed. what happens when there is a binding price ceiling? at a price below the equilibrium price, quantity demanded exceeds quantity supplied. there is a shortage. normally, price increases eliminate shortages by increasing quantity supplied and decreasing quantity demanded. in this case, however, price increases are not allowed past the price ceiling. we therefore predict that the observed market price will be right at the price ceiling and there will be a permanent shortage. the observed quantity bought and sold will be dictated by the quantity supplied at the price ceiling. although consumers would like to buy more, there are no more units for sale
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Business, 22.07.2019 23:10, korireidkdotdot5973
Which of the following is not a necessary condition for price discrimination to hold? the seller must be a price searcher. the seller must be able to distinguish between customers willing to pay different prices. it must cost the seller more to service some customers than others. reselling the product must be extremely costly or must not be possible
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Business, 31.07.2019 07:30, frankcaroccio0203
Aprice ceiling is a government-mandated a. minimum price above which legal trades cannot be made. b. maximum price below which legal trades cannot be made. c. maximum price above which legal trades cannot be made. d. minimum price below which legal trades cannot be made.
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Social Studies, 11.09.2019 21:30, nothingworksoutforme
Aprice floor is a government-mandated minimum price below which legal trades cannot be made. maximum price above which legal trades cannot be made. minimum price at which all units of the good must be legally sold. minimum price below which legal trades can be made.
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