A price ceiling is not binding if what? A. people does not agree to abide by it B. the equilibrium price is below the ceiling C. the equilibrium price is above the ceiling D. it has no legal enforcement mechanism
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A
A. people does not agree to abide by it
B. the
C. the equilibrium price is above the ceiling
D. it has no legal enforcement mechanism
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- The government establishes minimum wage. What will be the result of this price floor? A. It will cause an increase in supply B. It will create a surplus C. It will create a shortage D. It will cause an increase in demandThe government of Brazil wishes to regulate the grocery bags by preventing the current prices from rising, what actions should it take? * a. Set a price ceiling above the equilibrium price b. Impose a direct tax on landlords c. Grant a subsidy to landlords d. Set a price ceiling below the equilibrium priceDue to the implication of price ceiling lead to the producer cannot increase the price. Who will benefit from it and what are the advantages.
- 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 equilibriumWhat is the objective of a price ceiling? a. To encourage the growth of the economy b. To stabilize the decreasing of prices c. To help sellers d. To control increasing prices of productsSuppliers are in better shape financially after the govt imposes a price floor of $5. icompare total revenues for each condition Price Demand Supply $3 $2 Create a supply and demand graph based on these coordinates and match correct answers to the questions Price Demand Supply $3 4. 4. 12 Oru Oabe
- TPrice 6 Supply Price ceiling Denand ONT 165 Quantity 60 120 The price ceiling casues aa. Price ceilings create shortages if they are set b. Which of the following are price ceilings? the minimum wage price controls on prescription drugs an agricultural price support rent control below the equilibrium price.USD.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.
- 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?If a government price control was set a price of $2. Which kind of price control would it be? price ceiling price floor no price control can exist below the equilibriumWhat will a price floor always create? shortage surplus a clear market