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- What is the relationship between quantity Demanded and quantity supplied at equilibrium? What is the relationship when there is a shortage? What is the relationship when them is a surplus?Which of the following would increase quantity supplied, increase quantity demanded, and decrease the price that consumers pay?a. the imposition of a binding price floorb. the removal of a binding price floorc. the passage of a tax levied on producersd. the repeal of a tax levied on producersWhich of the following would Increase quantitysupplied, mcrease quantity demanded, and decreasethe price that consumers pay?a. the imposition of a bmding price floorb. the removal of a binding price floorc. the passage of a tax levied on producersd. the repeal of a tax levied on producers
- If a price ceiling is set below the equilibrium price in a market, A. raioning will be necessary. B. surpluses of the commodity will develop. C. the quantity demanded will exceed the quantity supplied. D. tje quantity supplied willexceed the quantitiy demanded.In a market with a binding price cei ling, an increasein the cei ling will ___ t he quantity suppl ied, ___ t he quantity demanded, and reduce thea. increase, decrease, surplusb. decrease, increase. surplusc . increase, decrease, shortaged. decrease, increase, shortageUSD.13 An increase in a price ceiling will change the amount of a good sold in a market: Selected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer. a if the price ceiling is effective. b regardless of whether or not the ceiling is effective. c if the price ceiling is ineffective. d if demand is inelastic.
- i will urgent 10 upvotes. In the market shown in the figure, if a price ceiling of 10 is imposed, the shortage is _______If a price floor is imposed at $15 per unit when the equilibrium market price is $12, there will be options: A. no surplus or shortage. B. a surplus. C. a shortage. D. a downward pressure on prices. E. an upward pressure on prices.If the government imposes a price ceiling at $14, and the equilibrium price is at $10 in this market, the result would be a. A shortage b. A surplus c. A new equilibrium price d. Neither a surplus or a shortage
- A recent study found that the demand an supply for Frisbies schdules are as follows:a.What are the equilibrium price and quantity of Frisbees?b.Frisbee manufacture persuade the government that frisbee production improves scientists'understanding of areodynamics and thus is important for national security.a concern Congress votes to impose a price floor $2 above the equilibrium price.What is the new market price?How many Frisbees are sold?c.Irate college students march on washington and demand a reduction in the price of Frisbees.An even more concerned Congress votes to repeal the price floor and impose a price ceiling $1 below the former price floor.What is the new market price?How many Frisbees are sold?Suppose, the government has decided that the free-market price of sugar is too low. Government has imposed a binding price floor of per kg sugar at 50 taka, whereas, the market price was 40 taka per kg before the announcement. a. Explain the effects of this flooring price on the demand and supply of the sugar market. In your graph, show the effects of the price changes on quantity demanded and quantity supplied. Does it create excess supply or excess demand? What will happen to the market price? b. In the above situation, who (buyers or sellers) is going to get the benefit from such policy? Explain it in your own words (clue: use a graph where a Price flooring is binding).If a price floor is lower than market equilibrium... a. Demand will be greater than supply and there will be a shortage b. Supply will be greater than Demand and there will be a surplus c. Demand will be greater than supply and there will be a surplus d. There will be no effect because the floor is lower than market equilibrium