Suppose that the demand curve for wheat is and the supply curve is . The government imposes a price ceiling of per unit. a. How do the equilibrium price and quantity change? (round quantities to the nearest integer and round prices to the nearest penny) The equilibrium quantity without the price ceiling is 50 and the price without the price ceiling is $ 5. The equilibrium quantity with the price ceiling is nothing.

Which of the following best explains why large companies have an advantage over smaller companies? a. economies of scale make it possible to offer lower prices. b. the production possibilities frontier is wider for a larger company. c. decreasing marginal utility enables more efficient production. d. increasing the scale of production leads to a reduction in inputs.2b2t

In our daily interactions we can find ourselves listening to other people solely for the purpose of finding weakness in their positions so that we can formulate a convincing response. select one: true false

Solomon chemical company makes three products, b7, k6, and x9, which are joint products from the same materials. in a standard batch of 320,000 pounds of raw materials, the company generates 70,000 pounds of b7, 150,000 pounds of k6, and 100,000 pounds of x9. a standard batch costs $3,840,000 to produce. the sales prices per pound are $10, $14, and $20 for b7, k6, and x9, respectively. (a) allocate the joint product cost among the three final products using weight as the allocation base. (b) allocate the joint product cost among the three final products using market value as the allocation base. (c) allocate the joint product cost among the three final products using weight as the allocation base.