BUSINESS HIGH SCHOOL

At $5 a bushel, there is an excess supply of wheat. is this price above or below the equilibrium price? in 2-3 sentences, explain your answer.

Answers

Answer 1
Answer: Its above the equilibrium price. Excess supply means they produced more than what people are demanding. So the bushel might be expensive for them and less people are buying it.
Answer 2
Answer:

This price is above the equilibrium price due to the fact that when Supply increases the production costs decreases in other words it can be because the price floor whitch is a price that is set above the equilibrium price it is not allowed to decrease and eventually causes a surplus in products.


Related Questions

COLLEGE

Mark is the manager of an american company. he expects the value of the british pound to appreciate in the near future. hence, he delays the collection of payments from british customers until the next month. which tactic is mark making use of to minimize the foreign exchange exposure?

Answers

Mark is using what is called a lag strategy. A lag strategy can be used when there is an intended change in payment in a foreign transaction. This usually occurs when there is an expected change occurring in exchange rates. The lag occurs when the transaction is delayed, which is what Mark is attempting to do here.
HIGH SCHOOL

What is an economic model that allows economists to examine competition among businesses in the same industry?

Answers

In the same industry, This would be considered market structure
HIGH SCHOOL

The windows 10 desktop has controls, also known as its ____, that allow you to interact with the windows 10 operating system.

Answers

The answer in the space provided is user interface. It enables you to interact with the operating system as it is a system that enables you to use to interact with your computer. It is a way of how you can access your operating system and interact with the programs or appications that are placed or saved on your computer.
MIDDLE SCHOOL

True or false businesses in the US generally have the right to hire whom they want

Answers

Answer:

True

Explanation:

Random Questions