price demanded= 20-q price suplied=q calculating the new equilibrium price will be 10 if the price floor is 12$ how much will be producer surplus?
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price suplied=q
calculating the new
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- Select the correct answer. A price ceiling will usually shift: demand supply both neitherprice demanded= 20-q price suplied=q calculating the new equilibrium price will be 10 if the price floor is 12$ how much will be consumer surplus?Demand: Qd= 2,600 - 5P Supply: Qs= 1000 + 10P What would be the amount of shortage if a price ceiling is imposed at $180?
- In a competitive market, if the government imposes a price ceiling below the equilibrium price, what is likely to happen?A. Surplus of goods B. Shortage of goods C. No change in quantity exchangedD. Price remains the sameAssume that the monthly demand for Gala apple in the US is given by q=1200-300p and quantity is in million pounds. The monthly supply of Gala is q= -200+400p for p>$0.5. Now assume that the government has imposed a quantity tax equal to $0.14 on each pound of apple. What is the new equilibrium consumer price, producer price and quantity?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
- In a competitive market, the market demand is Qd = 60 - 6P and the market supply is Qs = 4P. The full economic price under a price ceiling of $3 is? The answer is "8", but how do you get there?If the government imposes a price floor $90 in this market, then consumer surplus will beQuanity demand =40-P Quanity supply =P-4 How much is total consumer surplus ar the equilibrium price in this market?
- Given the following data: WIDGETS P = 80 - Q (Demand)P = 20 + 2Q (Supply) Now suppliers must pay a tax of $6 per unit. Find the new equilibrium price-inclusive price and quantity.Consider a market with an equilibrium price of $10. If the government imposes a price ceiling of $8, other things equal, the result will be as follow: Group of answer choices A shortage will occur because the price ceiling is below the equilibrium price. A surplus will occur because the price ceiling is below the equilibrium price. The price ceiling will not affect the market which will remain at equilibrium. A surplus will occur because the price ceiling is above the equilibrium price.Equilibrium price or market-clearing price is the price where Select one: O a. Buyer and seller have different choices Ob. Demand and supply curves interact c. Price ceiling is imposed Od. Government fixes the prices
