Based on the influence chart below, the decision variable(s) for this model a. price and elasticity b. price and fixed cost c. priced. elasticity and fixed cost

Price is the decision variable in the given model.

Option C.

Explanation:

For a model which is related to the field of commerce and affects a particular organisation or a firm, for that price is the most important factors. Because fixing the price at a particular level will help the firm earn profits and maintain position in the market.

Price is the cost of the product which is available to the customers in the market. The consumers have to pay that price to get a particular quantity of that particular product.

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.