Suppose that, in a competitive market without government regulations, the equilibrium price of hamburgers is $7 each.

Indicate whether each of the statements is an example of a price ceiling or a price floor and whether it is binding or nonbinding.

Statement Price Control Binding or Not

1. The government has instituted a legal minimum price of $8 each for hamburgers.

2. The government prohibits fast-food restaurants from selling hamburgers for more than $8 each.

3. Due to new regulations, fast-food restaurants that would like to pay better wages in order to hire more workers are prohibited from doing so.

the correct answer is economics is a game without winners or losers.

unlike sports or games economic is a game without losers or winner rather it is a game where everyone wins. parties of business doing businesses exchange money with each other and hence exchange is done on the basis of goods. one party takes the goods and other sales it so there is winner on both sides. each party values more highly the good it gets than the good it gives up. both sides exchange only because both intend to increase their value. so there is no concept of lose or win.

3rd the reason why is because of management and leadership

answer; swot analysis;

answerthe above statement is (true);