If the demand curve is perfectly elastic, then an increase in supply will? a. decrease the price but result in no change in the quantity exchanged b. increase the quantity exchanged but result in no change in the price c. increase the price but result in no change in the quantity exchanged d. increase both the price and quantity exchanged

2. the language of price controls consider the market for rental cars. suppose that, in a competitive market without government regulations, the equilibrium price of rental cars is $58 per day, and employees at car rental companies earn $19.50 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 there are many teenagers who would like to work at car rental companies, but the minimum-wage law sets the hourly wage at $23.00. the government has instituted a legal minimum price of $87 per day for rental cars. the government prohibits car rental companies from renting out rental cars for more than $87 per day.

Amarket that consists of all possible consumers regardless of their specific needs or wants is a

What is inventory turnover? explain the effect of a high inventory turnover during the christmas shopping season.