Answer:
people care more about their own surplus than they do about total surplus.
Explanation:
Price control can either be a price ceiling or a price floor.
A price ceiling is when the government or an agency of the government sets the maximum price for a good or service. It is usually set below equilibrium price.
Price ceiling increase consumer surplus and reduce producer surplus.
A price floor is when the government or an agency of the government sets the least price a good or service can be sold. It is usually set above equilibrium price.
Price floor increases producer surplus and reduces consumer surplus.
Producers would be advocating for a price floor because it increases their surplus, while, consumers would advocate for a price ceiling.
Consumer surplus is the difference between the willingness to pay of a consumer and the price of the product.
Producer surplus is the difference between the price of a product and the least price the seller is willing to sell the product.
I hope my answer helps you
Forging is the process of applying thermal and mechanical energy to steel billets or ingots to result into a changed shape of the material while in a solid state. The raw material is solid metal in this case.
Answer:
A business invitee
Explanation:
A business invitee is any person or group of people who enters another person's commercial property to do business. A business invitee's purpose is to engage in a commercial transaction with property or landowner. The landowner is liable to any injuries or harm suffered by a business invitee due to dangerous conditions on the property.
Commercial property or premises refers to land or building designated for business transactions such as a retail store or a restaurant. In law, customers are business invitees. The assumption is that customers enter commercial premises to do business with the business owner.
Hi!
The answer to your question should be B. Pays the difference of the current value to the amount you owe.