With a price floor of $8 per pound of cheese, there will be of cheese. True or False: The price floor of $8 per pound of cheese reduces the total revenue of cheese producers. True False Suppose the government imposes a binding price floor in the cheese market and agrees to purchase all the surplus cheese at the price floor. Compared to the basic price floor, benefit from this new policy and lose.

"jake’s roof repair has provided the following data concerning its costs: fixed cost per month cost per repair-hour wages and salaries $ 20,900 $ 15.00 parts and supplies $ 7.70 equipment depreciation $ 2,800 $ 0.35 truck operating expenses $ 5,720 $ 1.60 rent $ 4,690 administrative expenses $ 3,850 $ 0.50 for example, wages and salaries should be $20,900 plus $15.00 per repair-hour. the company expected to work 2,600 repair-hours in may, but actually worked 2,500 repair-hours. the company expects its sales to be $47.00 per repair-hour. required: compute the company’s activity variances for may."