The manager of a cherry orchard wants to schedule the annual harvest. if the cherries are picked now, the average yield per tree will be 100 lb, and the cherries can be sold for 50 cents per pound. past experience shows that the yield per tree will increase about 8 lb per week, while the price will decrease about 4 cents per pound per week. how many weeks should the manager wait to get an average revenue of $44.88 per tree?

the answer is "b.the increased supply will create a surplus. "

the essential thought behind price controls is straightforward - utilize the power of law to modify the equilibrium of a market. for instance, the legislature may choose that the steel business needs to survive, and in this way pass a law to set a value floor on steel. this implies all steel sold must offer at or over the floor value, which must be set over the equilibrium cost for it to have any impact. the switch could likewise happen - the administration can choose that steel is excessively costly and set a value roof underneath its equilibrium value, with the goal that all steel must be sold at or beneath that ceiling.