Asked by Cindy Vuong on May 08, 2024
Verified
The amount for which suppliers are willing to supply the quota limit quantity is the:
A) demand price.
B) supply price.
C) quota rent.
D) price floor.
Supply Price
The price of a given quantity at which producers will supply that quantity.
Quota Limit
The total amount of a good under a quota or quantity control that can be legally transacted.
Demand Price
The price at which consumers are willing to buy a specific quantity of a good or service.
- Understand the concept of demand price and supply price in the context of quota limits.
Verified Answer
TU
tauheed usmaniMay 11, 2024
Final Answer :
B
Explanation :
The supply price is the amount for which suppliers are willing to supply a given quantity of goods or services. It reflects the minimum price at which they are willing to sell a certain amount of a product, including the quota limit quantity.
Learning Objectives
- Understand the concept of demand price and supply price in the context of quota limits.