Scenario 6-2 Suppose Demand for a Product Is Given by the Equation

question 126

Essay

Scenario 6-2
Suppose demand for a product is given by the equation
Q^D = 120 - 4P
and supply for the product is given by the equation
Q^S = 4P
-Refer to Scenario 6-2. Suppose the government sets a price floor at $13 for this product. Is this price floor binding, and what will be the size of the shortage/surplus in this market?

Recognize the essential elements and legal effects of financing statements in secured transactions.

Distinguish between different classifications of collateral, including inventory, equipment, and consumer goods, based on the UCC.

Explain the methods for perfecting a security interest, including possession and public filing, and their implications.

Describe the rights of a buyer in the ordinary course of business under the UCC.