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- Can you propose a policy that meld induce the market to supply more rental housing units?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.Suppose that the U.S. government places a ceiling on the price of a medical drug of $7. 1.) Using the point drawing tool, plot the quantity supplied on the supply line and label it. 2.) Using the point drawing tool, plot the quantity demanded on the demand line and label it. 3.) Using the double arrow line, indicate, via a label, the shortage or surplus. Carefully follow the instructions above, and only draw the required objects.
- When the price of a good is higher than the equilibrium price, ..................... a) sellers desire to produce and sell more than buyers wish to purchase. b) buyers desire to purchase more than is produced. c) a shortage will exist. d) quantity demanded exceeds quantity supplied.Price Quantity Quantity Surplus, Shortage, Equilibrium Quantity' Surplus, Shortage, or Equilibrium $100 98 50 (1) 98 (5) $75 70 70 (2) 125 (6) $50 50 98 (3) 178 (7) $25 10 125 (4) 200 (8) If both supply and demand are a horizontal summation of quantites at specific prices then the number 6 in the table represents Question 9 options: a) surplus b) shortage c) equilibrium d) either a,b, or c depending ont the circumstancePrice per Bushel Quantity Demanded (bushels) Quantity Supplied (bushels) $3 36,000 0 6 30,000 3,000 9 24,000 6,000 12 19,000 10,000 15 15,000 15,000 18 10,000 21,000 21 7,000 28,000 24 4,000 36,000 Suppose the market price is $21 per bushel. Is there a shortage or a surplus in the market? What is the quantity of the shortage or surplus? How many bushels will be sold if the market price is $21 per bushel?
- Price per bushel Quantity Demanded (bushels) Quantity Supplied (bushels) US$2 40,000 0 4 36,000 4,000 6 30,000 8,000 8 24,000 16,000 10 20,000 20,000 12 18,000 28,000 14 12,000 36,000 16 6,000 40,000 Suppose the market price is US$14 per bushel. Is there a shortage or a surplus in the market? What is the quantity of the shortage or surplus? If the market price is US$14 per bushel, what must happen to restore equilibrium in the market?Find the equilibrium price and quantity for a product that has the following supply and demand curves, where p is the price in 100's of dollars and q is quantities in 1,000's of units demand: 1/3q + 1/3p - 4=0 Supply: q-p-2=0 If the product is currently priced at $400, what is the quantity supplied and the quantity demanded? Is there a surplus (More supplied than demanded) or a shortage (More demanded than supplied)When the actual price in a market is above the equilibrium price we would expect: a. a shortage of the good or service. b. this higher price to be the new equilibrium. c. a surplus of the good or service. d. an excess demand or excess supply depending upon the extent of the difference between actual and equilibrium price.