Cities have experienced a decline in garbage collection. Municipalities changed from a flat fee to a price per bag fee. Would you recommend a flat fee or price per bag if the change in quantity demanded was affected?

Q: Dry cleaning of clothing produces air pollutants. Therefore, in the market for dry cleaning…

A: When there is a negative externality is the market, it will affect the market equilibrium because…

Q: Which of the following will definitely occur when there is an increase in demand for and a decrease…

A: Equilibrium is attained in the market when the market forces of demand and supply meet such that…

Q: Refer to the above table. If the government implemented a price control at $20 which of the…

A: Equilibrium is achieved at the output level where Qs equals Qd.  Thus equilibrium price= $ 25,…

Q: Draw a supply-demand graph in the market for milk. Indicate equilibrium price and equilibrium…

A: - In economics, demand and supply are an association between the quantity of a good which the seller…

Q: If government imposes a price ceiling on a good that is below the market equilibrium price a surplus…

A: Price controls are those government restrictions that are enforced to regulate the prices of goods…

Q: If the price of a good starts out below the equilibrium price without a price control, then…

A: A market is said to be at equilibrium(E) when market demand(D) is equal to market supply(S). At this…

Q: A rise in supply and demand in equal proportion will result in

A: To find : What will happen when rise in supply and equal proportion

Q: When the price of a good is higher than the equilibrium price, ..................... a) sellers…

A: The demand curve of a good shows the existence of an inverse relationship between the price of the…

Q: If government sets a price ceiling of $8 per unit in the market illustrated in the diagram, the…

A: A price ceiling is a government- or group-imposed price control, or limit, on how high a price is…

Q: At Tokyo Disneyland, visitors typically demand more rides than the theme park can supply. In this…

A: When quantity demanded is higher than quantity supplied, there is an excess demand (or shortage).…

Q: A market is described by the following supply and demand curves: Supply: P=0.25Q Demand:…

A: Answer to the question is as follows:

Q: Equilibrium exists when *       there is no government intervention in the market.       the demand…

A: Equilibrium exists when the supply and demand are equal and there is neither surplus nor shortage in…

Q: what is the best description of a normal good?

A: Normal goods are those goods which see an increase in their qty demanded(Qd) with the increase in…

Q: Which of the following will cause the supply of a product to decrease? a) governent subsidy for the…

A: Here the decrease in supply means the supply curve shifts leftward.

Q: f the market price of a good decreases, the quantity demanded will     Multiple Choice   decrease…

A: Demand curve shows different combinations of price and quantity demanded.

Q: A tax placed on buyers of tuxedoes shifts the     demand curve for tuxedoes downward, decreasing…

A: The incidence of tax on consumer will let the demand(dd) curve shift downwards.

Q: There are 100 sellers in the market for widgets: 40 people are willing to sell a widget at £10 or…

A: The supply curve is a realistic portrayal of the connection between's the expense of a good or…

Q: When equilibrium price rises but equilibrium quantity remains unchanged, the cause is A Supply and…

A: If demand increments and supply stays unaltered, a lack happens, prompting a higher equilibrium…

Q: Which of the following represents a market failure? a) people prefer to have more restaurant meals…

A: Market failure is the economic situation defined by an inefficient distribution of goods and…

Q: What strategies distinguish the different types of foodretailers?

A: Retailers refer to the individuals, or business units that sells goods to the public in small…

Q: What would be the impact of introducing a minimum allowable price on a highly desirable product?

A: A market is a place where the buyers and sellers interact with each other and the exchange of goods…

Q: Which of the following statements about correctivetaxes is generally NOT true?a. They increase what…

A: Corrective tax is also called Pigouvian Tax. Pigouvian taxes are used to correct for the presence of…

Q: Which of the following explains why a seller might charge a high price when a new video game console…

A: Initially a producer charges a higher price onto launching a new video game console and subsequently…

Q: When the prices of necessities such as gas and bottled water rise as a result of a natural disaster,…

A: Price need to be controlled by government. In aituations when pri e tises due to supply decreasing…

Q: What is happening if governments sets a maximum price for electricity that is below the market…

A: If an upper price limit is set on a commodity and sellers are not allowed to sell a commodity above…

Q: After Hurricane Katrina damaged many U.S. gasoline refineries in​ 2005, the price of gasoline shot…

A: Equilibrium price is the price at which quantity demanded equals quantity supplied and the market…

Q: why does a subsidy on a good lower the price consumers pay and raises the price producers recieve?

A: The subsidy refers to the provision of financial assistance to the business or the individual to…

Q: If one gas station reduces its prices, must other gas stations match the price reduction?  Why or…

A: Price reduction of gas station:If one gas station decreases its price, then the other gas station…

Q: At Price of $150 per XBOX unit, we would see:   Question 7 options: a excess supply b excess…

A: At Price of $150 per XBOX unit the quantity supplied is 740 units of XBOX and the quantity demanded…

Q: please plot a graph showing the effect of a government subsidy on the market for surgical masks.

A: The amount given by the government to the producer is known as a subsidy. The main aim of subsidy is…

Q: Which of the following will definitely occur when there is an increase in demand for and a decrease…

A: We know that Equilibrium is attained in the market when the market forces of demand and supply meet…

Q: Assuming an increase in Demant and decrease in Supply, which of the following statements is TRUE?…

A: Demand represents the desire that is backed by the purchasing power and the willingness to pay of…

Q: Producer surplus:         is the difference between the maximum prices consumers are willing to pay…

A: In economics, total surplus is the total welfare of both consumers and producers in the market.…

Q: If quantity demanded exceeds quantity supplied, so that there is a surplus of a good as in the case…

A: Price ceiling is the maximum price that consumers can pay the seller. It is binding when it is set…

Q: Cows are a major source of methane which causes global warming. The government imposes a per-cow tax…

A: Per unit tax on a product increases the price of the product, and thus decreases the availability of…

Q: The area under the demand curve up to unit Q 1 represents the total ____ of Q 1 to society.   A.…

A: Consumer surplus is the difference between maximum willingness to pay and the amount what he…

Q: If a city government were to impose a ceiling price on rental prices in the downtown area:…

A: Price ceiling is the maximum price a seller can charge for a commodity.  Price ceilings set below…

Q: How supplier affect the supply of goods to the public market?

A: At the marketplace, suppliers are the market participants who provided goods and services to…

Q: At an equilibrium price for gasoline,   a. everyone who is willing and able to purchase gasoline at…

A: Demand curve depicts the relationship between price and quantity demanded and supply curve depicts…

Q: Refer to the above diagram for the milk market. There would be a shortage of milk whenever the price…

A: Shortage of a good happens when demand of that good is more than the supply of that good. Shortage…

Q: Classifying a good as rival means   A. that the good is produced in a competitive market.   B.…

A: The answer to the question is as follows :

Q: When there is a deadweight loss in the market, the marginal benefit must be larger than the marginal…

A: Marginal benefit is the advantage that an individual gets from devouring one more unit of a…

Q: the demand curve for chocolate bars is downward sloping and the supply of it decreases, there is __…

A: Consumer surplus is the difference between the maximum willingness to pay and actual payment. Fall…

Q: Producing a quantity larger than the equilibrium of supply and demand is inefficient because the…

A: Demand is the total quantity of goods and services for which the consumers are willing to pay…