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How much can a big bones sell?
Minimum price: 634; Market price: 667; Maximum price: 700.
What is minimum price legislation?
The minimum price legislation is the commodity sold at any price price below the one stated example government or authorities. The intention is to protect the supplier at times when the market id at equilibrium and price tends to fall (due surplus). To be effective, a minimum price must be set above prevailing current market equilibrium price. Also there should be no cheating.
How is price determined under imperfect market?
Remember under this market there's a government intervention.the Government determine the prices of the market by using the minimum(the minimum that the market can charge) and maximum wage(Maximum that the market can charge)
Is minimum wage a price floor or ceiling?
Price floor- Minimum wage, if above the market equilibrium then unemployment Price ceiling- rent control, so more people are able to live comfortably. but this can be negative when the too high of price is confused with the too low of supply.
Is a price floor a maximum or minimum price?
Minimum price Think floor is the bottom which is the minimum. Think ceiling is the top which is the maximum.
Why price ceiling and price floor is binding?
A price ceiling is binding when it is below the equilibrium price. It is the legal maximum price, so the market wants to reach equilibrium (which is above that) but can't legally. If it were above the equilibrium price it would not be binding because the market would reach equilibrium and the ceiling would have no effect. A price floor is binding when it is above the equilibrium price. You can use similar reasoning to that above. It is the legal minimum price. the market wants to reach equilibrium below that but can't legally.
What is the minimum price of the share?
it's face value is the minimum price of the share
What is mean by minimum export price?
Minimum Export Price is the minimum price at which the government buys the agricultural produce (wheat, Rice etc) from the farmers.
What is minimum price?
this policy fixes the minimum prize of any sale able product by interfering in market driven prices. this aim's at protecting the interest of customer, seller and even both. suppose farmer's producing, sugarcane had surplus production. this will reduce the price of sugarcane. in order to compensate there loss,government will intervene, to fix minimum price of procurement of sugarcane. in this case, government protected the loss of farmers. sugar manufacturing industries can't procure sugarcane below the minimum price fixed.
When the market price is above equilibrium price the market price will be driven up by?
A
Is stock of crops are valued at cost price or market price?
market price
What is minimum price policy?
this policy fixes the minimum prize of any sale able product by interfering in market driven prices. this aim's at protecting the interest of customer, seller and even both. suppose farmer's producing, sugarcane had surplus production. this will reduce the price of sugarcane. in order to compensate there loss,government will intervene, to fix minimum price of procurement of sugarcane. in this case, government protected the loss of farmers. sugar manufacturing industries can't procure sugarcane below the minimum price fixed.
