"last year your company built 1,500,000 units of product able and sold 1,405,000 after 14 months in r& d, a revision of product able is due out tomorrow, on january 2 (the first business day of this year) what will happen to the unsold inventory of 95,000 units of old product able? "

they old compete for sales based on the product attributes they were built under before any of the new product able is offered for sale

they old be scrapped for 50 cents on the dollar

they old be carried on the books based on a lifo accounting system

they old be reworked to match the new specifications for product able

they old be expensed as a adjustment to income and òdisappearó

10. problems and applications q10 a market is described by the following supply-and-demand curves: qsqs = = 2p2p qdqd = = 300â’p300â’p the equilibrium price is $ and the equilibrium quantity is . suppose the government imposes a price ceiling of $90. this price ceiling is , and the market price will be $ . the quantity supplied will be , and the quantity demanded will be . therefore, a price ceiling of $90 will result in . suppose the government imposes a price floor of $90. this price floor is , and the market price will be $ . the quantity supplied will be and the quantity demanded will be . therefore, a price floor of $90 will result in . instead of a price control, the government levies a tax on producers of $30. as a result, the new supply curve is: qsqs = = 2(pâ’30)2pâ’30 with this tax, the market price will be $ , the quantity supplied will be , and the quantity demanded will be . the passage of such tax will result in .