[related to solved problem #4] the demand for plumsplums is highest during summer and lowest during winter. yet plumplum prices are normally lower in summer than in winter. what must be happening to the supply of plumsplums, from winter to summer, for the equilibrium price to fall? click on the icon to experiment with inward and outward shifts in supply and demand. note the change in equilibrium price and quantity.

a. the supply increases, but less than the demand increases.

b. the supply for plumsplums decreases.

c. the supply does not change.

d. the supply increases more than the demand increases.

Consider the market for gasoline. suppose that, in a competitive market without government regulations, the equilibrium price of gasoline is $3.00 per gallon, and employees at gas stations earn $17.50 per hour. complete the following table by indicating whether each of the statements is an example of a price ceiling or a price floor and whether it results in a shortage or a surplus or has no effect on the price and quantity that prevail in the market. statement price control effect the government has instituted a legal minimum price of $3.40 per gallon for gasoline. the government prohibits gas stations from selling gasoline for more than $3.40 per gallon. due to new regulations, gas stations that would like to pay better wages in order to hire more workers are prohibited from paying more than $14.50 per hour.

Krier industries has just completed its sales forecasts and its marketing department estimates that the company will sell 43,800 units during the upcoming year. in the past, management has maintained inventories of finished goods at approximately 3 months' sales. however, the estimated inventory at the start of the year of the budget period is only 7,300 units. sales occur evenly throughout the year. what is the estimated production level (units) for the first month of the upcoming budget year?

Which one of the following is not a typical current liability? a. interest payable b. current maturities of long-term debt c. salaries payable d. mortgages payable