What might prompt the government to establish this price, Ask an Expert

Economics

suppose the total demand for wheat and the total supply of wheat per month in the kansas city grain market are as shown in the table below. suppose that the government establishes a price ceiling of $3.70 for wheat. what might prompt the government to establish this price ceiling? next suppose that the government establishes a price floor of $4.60 for wheat. what will be the main effects of this price floor?

View complete question

Business Economics, Economics

Category:- Business Economics
Reference No.:- M9437776

Have any Question?Write your Review or question?

Related Questions in Business Economics

What are the characteristics of perfect competition and

What are the characteristics of perfect competition, and does is exist in the real world?

What are the implications of the shift from medical care to

What are the implications of the shift from medical care to the focus on overall health conditions?

A decision maker has ordered every commodity in walmart

A decision maker has ordered every commodity in Walmart alphabetically according to the commodity's name. Every time when he needs to choose from several commodities, he always choose the second one according to his orde ...

Given a binomial random variable x successes where the

Given a binomial random variable, X = # successes, where the sample size (n) and the probability of a success (p) are given on right, calculate P(X n =20 p =0.3 a =2 Given a binomial random variable, X = # succ ...

Consider the following estimated regression model relating

Consider the following estimated regression model relating annual salary to years of education and work experience. Estimated Salary=11,756.80+2723.3(Education)+1092.64(Experience) Suppose an employee with 11 years of ed ...

How are prospective payments using drgs intended to change

How are prospective payments using DRGs intended to change the incentive structure for hospitals

You are given the sample mean and the population standard

You are given the sample mean and the population standard deviation. Use this information to construct the 90% and 95% confidence intervals for the population mean. A random sample of 44 gas grills has a mean price of ...

Question 1 on a certain banking machine customer arrives at

Question 1: On a certain banking machine customer arrives at an average 15 per hour. a. What is the probability that 12 customers will use the machine in the next hour? b. What is the probability that there will be fewer ...

Sobel consumes positive quantities of both jam and juice

Sobel consumes positive quantities of both jam and juice. The price of jam is 5 cents per unit and the price of juice is 10 cents per unit. Her marginal utility of jam is 10 and her marginal utility of juice is 5. a. Wit ...

Why does a government undertakes expansionary fiscal

Why does a government undertakes expansionary fiscal policy? What are the problems of undertaking expansionary fiscal policy? When is fiscal policy more appropriate than monetary policy?

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Business Economics Expert