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- Question 13 The equilibrium price of a good is $6 with no price controls. If a price floor of $8 is imposed, there will be Group of answer choices an indeterminate result. a shortage in the market. a surplus in the market. no surplus or shortage.policies are is aimed at reducing violent crimes in Country A by reducing the use of guns. Demonstrate diagrammatically and explain the effectof each of these proposed policies in a demand and supply diagram of the gun market A tax on gun ammunitionQuestion 41 The equilibrium price of a good is $25 with no price controls. If a price ceiling of $21 is imposed, there will be Group of answer choices a shortage in the market. a surplus in the market. no shortage or surplus. an indeterminate result.
- Consumers’ and Producers’ Surplus Find the consumers’ surplus at a price level of = $15 for the price demand equation p = D(x) = (7500 - 30x)/(300-x). Graph the price demand equation and the price level equation p = $15. What region represents the consumers’ surplus? Please explain each step in the solving process to help understand. Thank you. 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.QUESTION 3 Ceteris paribus, assuming at the same time as the demand for electric car was increasing the federal government of Malaysia imposed a tax on electric car suppliers. Use demand and supply analysis to graphically represent and explain the impact on price and quantity in the market for electric cars in Malaysia. (HINT: there is more than one outcome to the changes in price and quantity).The following are correct statements about a Price Floor, EXCEPT: Question 9 options: It is a regulated price above the equilibrium price It creates an excess of supply in the market. It will for sure increase total consumer's surplus. It creates a Dead Weight Loss.
- What is a the typical result of a price floor? Question 29 options: a) quantity supplied equals quantity demanded. b) Customers unable to obtain the product c) excess demand. d) excess supply.An effective price floor causes the quantity exchanged to _______ and the price of the product to ______ compared to the market equilibrium. Question 4Answer a. decrease, decrease b. increase, increase c. increase, decrease d. decrease, increaseQ1-Select the true or false for the following statement also give the explanation and support your answer with graphical presentation where necessary. Explanation is compulsory 3 to 6 line. If government imposes price ceiling on goods “X” the result is excess supply and shortage of demand for goods “X”.
- the following policies are aimed at reducing violent crimes by reducing the use of guns. How can I demonstrate diagrammatically and explain the effect of each of these proposed policies in a demand and supply diagram of the gun market? A tax on gun buyers. A tax on gun sellers A binding price floor on guns A tax on gun ammunition. Demand, Supply, consumer surplus, Market Equilibrium Price floor. The following relations describe monthly demand and supply conditions in the metropolitan area for recyclable aluminum. QD = 80,000 – 20,000Px (Demand) QS = - 20,000 + 20,000Px (Supply) where Q is quantity measured in pounds of scrap aluminum and P is price in dollars. Answer the following questions: A. What is the condition for market equilibrium? B Calculate the market equilibrium price and equilibrium output? C. What is the inverse demand curve P = f (QD)? D. Compute the consumer surplus at the equilibrium price. E. What is the inverse supply curve P = f (Qs)? F. Compute the producer surplus at the equilibrium price.A price floor is a price? A. that creates a surplus of the good if it is set above the equilibrium price. B. above which a seller cannot legally sell. C. below which a seller cannot legally sell. D. Both answers A and C are correct.