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- If the current market price is $25, then the market will achieve equilibrium by Group of answer choices: a price decrease, decreasing the supply and increasing the demand a price increase, increasing the supply and decreasing the demand. a price decrease, decreasing the quantity demanded and increasing the quantity supplied. a price decrease, decreasing quantity supplied and increasing quantity demanded. a price increase, increasing the quantity supplied and decreasing the quantity demanded.Price rationing will happen whenever there is excess supply in a market. Select one: a. False b. TrueIf a price ceiling is set by the government above the market equilibrium price, then Group of answer choices A: the quantity demanded in the market is greater than the quantity supplied, thereby creating a surplus. B: the quantity supplied in the market is greater than the quantity demanded, thereby creating a shortage. C: the market equilibium price will prevail. D: the quantity supplied in the market is greater than the quantity demanded, thereby creating a surplus.
- In the context of Pakistan’s society for each of the following products, indicate the correct type of price elasticity of demand or supply and also justify your answer: a) An expensive necklace to be sold at an auction. b) Demand for COVID-19 Vaccine. c) Production of gold mining. d) Demand for gold.Assuming we are in a market with a shortage of a good, what will sellers do to make the market achieve the market equilibrium point? How about when there is a surplus of a good? Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.Answer completely.You will get up vote for sure.California LifeLine provides discounted home phone and cell phone service to qualified households. The service discount cannot exceed $39 per household. What would happen if the state of California were to increase the subsidy to $59 per household? Group of answer choices Supply would shift to the left Government payments to households would decrease The price consumers pay increases and the quantity consumed increases The price consumers pay falls and the quantity consumed increases
- A price floor is Select one: a) All of the options are correct b) can create inequalities in the market c) Can result when sellers of a good are sucessful in their attempts to convince the Government that the market outcome without a price floor is unfair to them d) None of the options are correct e) a legal minimum on the price at which goods can be soldIf a price floor is set by the government below the market equilibrium price, then Group of answer choices A: the market equilibium price will prevail. B: the quantity supplied in the market is greater than the quantity demanded, thereby creating a price ceiling. C: the quantity demanded in the market is greater than the quantity supplied, thereby creating a surplus. D: the quantity supplied in the market is greater than the quantity demanded, thereby creating a shortage.Equilibrium exists when * there is no government intervention in the market. the demand curve intersects the quantity axis. the supply curve intersects the price axis. the quantity demanded equals the quantity supplied.
- Suppliers will provide more of a good when the market price increases. the good is a normal good. resource prices increase. there is a decrease in demand.On average, 50 people go to the movies when the ticket is $6.50 and 250 go when the ticket price is 8.75$. does this scenario violage the Laws of Supply and Demand? Carefully explain your response. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.Market demand is given as Qd = 200 – P. The market supply is given as Qs = 4P. If at the current market price, the shortage equals 50, find the current price. a.) $40 b.) $50 c.) $150 d.) 30