6. Archie has decided to sell his house. He lists the house with Edith, a local real estate broker, and signs a listing agreement. The agreement states that Edith is the exclusive agent and is to receive a 7% commission. Edith finds a buyer, a contract of sale is signed with no mention of financing, but the buyer cannot complete the purchase because of inadequate financing. Is Edith entitled to a commission? Why? Assuming that Archie is liable for a commission, what method(s) could Archie use to avoid liability in the future?

answer; institution based;

answer(c) factors of production;

the answer is "b.the increased supply will create a surplus. "

the essential thought behind price controls is straightforward - utilize the power of law to modify the equilibrium of a market. for instance, the legislature may choose that the steel business needs to survive, and in this way pass a law to set a value floor on steel. this implies all steel sold must offer at or over the floor value, which must be set over the equilibrium cost for it to have any impact. the switch could likewise happen - the administration can choose that steel is excessively costly and set a value roof underneath its equilibrium value, with the goal that all steel must be sold at or beneath that ceiling.