The government has decided that the free market price of cheese is too low. Farmers complain that the price floor has reduced their total revenue.Is this possible? Explain

Answers

Answer 1
Answer: Revenue is the product of price times volume (R = P * V). The problem for the farmers is that because the price of cheese (P) went up, demand for it (V) went down. Essentially, the government raised prices to a level higher than what many people wanted to pay. The farmers made more money with lower prices because they sold a lot of cheese (a high volume, in the terminology of the formula). The potential for these artificial imbalances is why markets are generally more effective than governments at setting prices.

Related Questions

The ____ section of the project scope document is where the contractor or project team can state and clarify exactly what is included in the work scope and provide an opportunity to reconsider items that are not stated but that the customer may have forgotten to include in her requirements or RFP.
Discuss the impact of technological forces and political and legal forces on the market.
The amount of interest is determined by multiplying the amount in savings by the:A. annual interest rate. B. annual interest rate and the time period. C. time period. D. time period and number of months.
What happens when you do not make a decision?
When preparing a formal business presentation, the phase that can make or break your report is the _______ phase.a. revision b. outline c. writing d. organization

Distinguish between the features and benefits of getting a student loan and getting a grant or a scholarship.Categories:
- Student Loan
- Grant or Scholarship

Tiles:
- Borrowed money that needs to be repaid
- Given based on financial need
- Given based on academic achievement and financial need
- Part of credit history

Answers

Student Loan:

  • borrowed money that needs to be repaid
  • part of credit history

Grant or Scholarship

  • given on the basis of financial need
  • Given based on academic achievement and financial need

The major difference between loans and scholarships is that loans will have to be repaid and scholarships do not.

Answer:

Student Loan

- Borrowed money that needs to be repaid

- Part of credit history

Grant or scholarship

- Given based on financial need

- Given based on academic achievement and financial need

Explanation:

Just took the test

In reference to Rest's four-component Model of Morality, which component reflects an individual's willingness to place ethical values ahead of non-ethical values that relate to self-interest?A. Moral Character
B. Moral Motivation
C. Moral Sympathy
D. Moral Judgment

Answers

Answer:

Moral Motivation

Explanation:

According to my research on Rest's four-component Model of Morality, I can say that based on the information provided within the question this refers to Moral Motivation. Like mentioned in the question this term refers to an individual's desire to make decisions related to their own self-interest based on correct ethical values. Which is what is being described in the question.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

When interpreting data, a marketing manager should know that A) Quantitative survey responses are valid, but qualitative research may not be valid.
B) Recognize that outliers are routinely wrong and should be ignored and discarded.
C) Leave it to the technical specialists to draw the correct conclusions.
D) Be satisfied with the sample used as long as it is large.
E) Realize that statistical summaries from a sample may not be precise for the whole population.

Answers

Answer: Option (E)

Explanation:

From the give options, we can state that while interpreting data, marketing managers should be able to recognize the fact that the statistical summaries derived from a sample might not be exactly precise for whole population. Sample, usually tend to state the fact that a researcher has selected group of subject from a general population and thus is recognized to be a representative of population for that study. This still does not emphasize on the fact, that preferences still tend to deviate from individual to individual or sample to sample.

Which of the following is NOT a type of 4 organization in a capitalist system?A. sole proprietorships
B. partnerships
C. collectives
D. corporations

Answers

The answer is C. Collective

Collective is any type of organization in which the members have the same goal, it doesn't have to be in a capitalist system

the 4 type of organization in capitalist system are :
- Sole Proprietorship
- partnership
- corporations
- Limited Liability corporation

Having a savings account can contribute to a person s overall financial well-being. Which one of the following is NOT a benefit of maintaining a savings account?a. A savings account provides security in tough financial times
b. With a savings account, you can invest when the opportunity presents itself
c. Having a savings account gives individuals the ability to borrow money from members in the community
d. A savings account allows an individual to fulfill life long dreams

Answers

c. Having a savings account gives individuals the ability to borrow money from members in the community.

What are the benefits of a savings account?

Maintaining a savings account offers numerous benefits, but one advantage it does not provide is the ability to borrow money from members in the community.

Savings accounts are designed for individuals to deposit and save their money, not to facilitate borrowing from others. Instead, this type of borrowing is typically facilitated through lending institutions like banks, credit unions, or peer-to-peer lending platforms.

Option C is correct

Read more about savings account here:

brainly.com/question/30101466

#SPJ6

Letter C. Keyword borrowing

A new real estate professional is getting to know licensees at his new firm, Tremont Homes. One licensee tells him there's an unwritten agreement with a neighboring firm that Tremont serves the mid-town area, and everyone who has prospective clients in that area refer their leads to Tremont. What's this an example of

Answers

Answer:

Market allocation.

Explanation:

Market allocation refers to a form of horizontal trade arrangement in which various competitors decide to limit their respective business practices to particular aspects such as particular territories, specified products, particular regional zones, and specific set of customers. Therefore, market allocation provides competitors the opportunity to establish large channels of local monopolies. As per the question, Tremont establish monopoly in that area and it unfairly limits the options of customers.