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The supply and demand model predicts that a price floor will result?
The supply and demand model that a price floor will result in is based on consumer want and need. A lower demand will result in lower market values for products.
A price floor will cause a large surplus when demand is and supply is?
A price floor will cause a large surplus when the demand is low and the supply is high. The floor is the lowest point at which something can be sold without losing money.
What happen if price floor is above equilibrium price?
In a competitive market, it will produce an excess of supply (for the floor price, supply is bigger than demand)
What if supply exceeds demand?
When supply exceeds demand, it is known as a surplus.Surpluses only occur among rational producers and consumers if a regulatory price floor is in effect (that is, the government mandates that the price of the good or service in question not go below a certain level). If no such regulation is in place, the price of the good or service will lower to the point where supply and demand are equal to one another.If the price of the good is lowered, then demand will increase.
What BEST demonstrates the effect of artificial price controls on supply and demand?
Artificial price controls, such as price ceilings and price floors, disrupt the natural balance of supply and demand in a market. For example, a price ceiling set below the equilibrium price can lead to shortages, as demand exceeds supply, resulting in long lines and rationing. Conversely, a price floor above the equilibrium price can create surpluses, where supply outstrips demand, leading to wasted resources. These controls ultimately distort market signals and can lead to inefficiencies in resource allocation.
What factors determine whether a price floor is binding in a market?
A price floor is binding in a market when it is set above the equilibrium price, leading to a surplus of goods. Factors that determine whether a price floor is binding include the level at which the price floor is set, the elasticity of supply and demand for the product, and the presence of substitutes or complements in the market.
What should be the discount for furniture floor samples?
Whatever discount it takes to move them. If the item is "a dog," and beat-up, then 40 or 50% off might be necessary. If it's an in-demand item and in excellent condition, but discontinued, maybe the retailer can get away with not discounting the price at all on the floor sample - the last one. It's all supply and demand. (Of course, few retailers are willing to sell a floor sample at any discount if the floor sample represents more in-stock items.)
How might a minimum-wage law and that the supply and demand of workers?
A minimum-wage law sets a legal floor on wages that employers must pay, which can lead to increased income for low-wage workers. However, if the minimum wage is set above the equilibrium wage determined by supply and demand, it may result in a surplus of labor, meaning more workers may seek jobs than there are positions available. This can lead to higher unemployment rates among low-skilled workers, as employers may hire fewer workers or reduce hours to offset increased labor costs. Ultimately, the impact of minimum wage laws on labor supply and demand depends on their specific levels and the economic context.
What is one effect of a price floor?
A surplus of supply
Where is supply room in Counterfeit Island?
the supply room is in the mussem on the first floor to your far left
How high is the demand for architects?
"Get on the floor and shine my shoes, Boy!" >:D
Is Mr. Clean a good commercial floor cleaning supply?
Mr. Clean commercial floor cleaner is a great commerical floor cleaning supply. It is quick, easy to use, and afforable. If you would like more information you visit: http://www.mrclean.com/en_US/home.do.
