Homework Answers
53.Quantity demanded at P=600 is 20 and quantity supplied is 100
Surplus=100-20=80
Answer-C
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help on 53. above is the chart for it
Use the table below to answer the...
The figure below shows the market for apartments in downtown Rochester. a) Suppose a rent ceiling...
The figure below shows the market for apartments in downtown
Rochester.
a) Suppose a rent ceiling of $600 is imposed. What is the
quantity of apartments supplied after the rent ceiling?
b) What is the quantity of apartments demanded after the rent
ceiling is imposed?
c) What is the change in producer surplus?
d) What is the change in consumer surplus?
e) The deadweight loss from the policy is
f) Suppose instead the rent ceiling is set at $1,500. The...
Figure 4-5 Price (dollars per month $2,500 2.000 Demand 0 200400 800 Quantity (apartments) Figure 4-5...
Figure 4-5 Price (dollars per month $2,500 2.000 Demand 0 200400 800 Quantity (apartments) Figure 4-5 shows the market for apartments in Springfield. Recently, the government imposed a rent ceiling of $1.000 per month. 2) 2) Refer to Figure 4-5. Suppose that instead of a rent ceiling, the government imposed a price floor of 12,000 per month for apartments. What is the quantity of apartments demanded at the new price? B) 200 C) 300 D) 500 A) 3) Refer to...
Q8 (1 point). What is the change in producer surplus? PS decreases by 36,000. PS decreases...
Q8 (1 point).
What is the change in producer surplus?
PS decreases by 36,000.
PS decreases by 24,000.
PS increases by 36,000.
PS increases by 24,000.
Q9 (1 point).
What is the change in consumer surplus?
CS decreases by 12,000.
CS increases by 12,000.
CS increases by 36,000.
CS decreases by 36,000.
Q10 (1 point).
The deadweight loss from the policy is
12,000.
1 trillion.
36,000.
24,000.
Q11 (1 point).
Suppose instead the rent ceiling is set at $1,500. The...
Using the Supply and Demand Schedules to answer the following questions Table 1 Quantity Quantity Supplied...
Using the Supply and Demand Schedules to answer the following questions Table 1 Quantity Quantity Supplied Demand Price 100 30 70 200 40 60 300 50 50 40 400 60 500 70 30 600 80 20 3a. Draw the Supply and Demand graph and label. Show the area for the shortage, surplus, and market equilibrium point demand curve to list inan of ft tw lis determinants of the supply curve to shift outward.
Using the Supply and Demand Schedules to...
.1. The table below shows the demand for and supply of rental housing in Windhoek. The...
.1. The table below shows the demand for and supply of rental housing in Windhoek. The city govemment is considering imposing a rent ceiling of NS700 a month. Help the government to analyze the effects of the proposed rent ceiling. dollars per month) (units per month units per month) 500 600 700 800 900 1,200 1,000 800 600 400 200 100 0 100 Draw the demand and supply curves. With no rent ceiling, what is the rent and how many...
Use the supply and demand schedule below to answer the following questions: Price Quantity Demand Quantity...
Use the supply and demand schedule below to answer the following questions: Price Quantity Demand Quantity Supplied $15 80 40 25 70 50 35 60 60 45 50 70 55 40 80 a. What is the market equilibrium price and quantity? b. If there is a shortage of 20 units, what is the market price? c. c. At a price of $45, the market experiences a surplus of how many units?
Suppose that the demand and supply schedules for rental apartments in the city of Gotham are as given in the table below.
Suppose that the demand and supply schedules for rental apartments in the city of Gotham are as given in the table below. a. What is the market equilibrium rental price per month and the market equilibrium number of apartments demanded and supplied? b. If the local government can enforce a rent-control law that sets the maximum monthly rent at $2,000, will there be a surplus or a shortage? c. Suppose that a new government is elected that wants to keep out the poor. It...
All the boxes are increase/decrease Rent Control 1000 In the figure to the right, the rent...
All the boxes are increase/decrease
Rent Control 1000 In the figure to the right, the rent control (price ceiling) of apartments is set to $300. Rent control the quantity of apartments, producer surplus from what it would be if the market were in equilibrium, consumer surplus from what it would be if the market were in equilibrium, and the total market surplus. 900- 800- Supply Price per apartment CS b Rent control Demand 0 300 700 1000 600 900 12:00...
Refer to the graph below for questions 7-9: Price Supply 15 12 Demand 40 50 80...
Refer to the graph below for questions 7-9: Price Supply 15 12 Demand 40 50 80 104 130 Quantity Suppose the market in the graph is originally in equilibrium at a price of $15. If the government implements a price ceiling at $20, what will be the market outcome? 7. a. Surplus of 90 units b. Surplus of 54 units c. Shortage of 90 units d. Shortage of 54 units e. Market will remain in equilibrium with a quantity of...
Refer to the table below. If the price of this good is $2.00, there would be...
Refer to the table below. If the price of this good is $2.00, there would be of Quantity Quantity Price Demanded 10 20 30 Supplied $10.00 $8.00 $6.00 $4.00 $2.00 $0.00 100 80 60 40 20 60 O shortage: 20 O surplus: 50 Oshortage: 30 O surplus:30 O surplus:20
The figure below shows the market for apartments in downtown
Rochester.
a) Suppose a rent ceiling of $600 is imposed. What is the
quantity of apartments supplied after the rent ceiling?
b) What is the quantity of apartments demanded after the rent
ceiling is imposed?
c) What is the change in producer surplus?
d) What is the change in consumer surplus?
e) The deadweight loss from the policy is
f) Suppose instead the rent ceiling is set at $1,500. The...
Figure 4-5 Price (dollars per month $2,500 2.000 Demand 0 200400 800 Quantity (apartments) Figure 4-5 shows the market for apartments in Springfield. Recently, the government imposed a rent ceiling of $1.000 per month. 2) 2) Refer to Figure 4-5. Suppose that instead of a rent ceiling, the government imposed a price floor of 12,000 per month for apartments. What is the quantity of apartments demanded at the new price? B) 200 C) 300 D) 500 A) 3) Refer to...
Q8 (1 point).
What is the change in producer surplus?
PS decreases by 36,000.
PS decreases by 24,000.
PS increases by 36,000.
PS increases by 24,000.
Q9 (1 point).
What is the change in consumer surplus?
CS decreases by 12,000.
CS increases by 12,000.
CS increases by 36,000.
CS decreases by 36,000.
Q10 (1 point).
The deadweight loss from the policy is
12,000.
1 trillion.
36,000.
24,000.
Q11 (1 point).
Suppose instead the rent ceiling is set at $1,500. The...
Using the Supply and Demand Schedules to answer the following questions Table 1 Quantity Quantity Supplied Demand Price 100 30 70 200 40 60 300 50 50 40 400 60 500 70 30 600 80 20 3a. Draw the Supply and Demand graph and label. Show the area for the shortage, surplus, and market equilibrium point demand curve to list inan of ft tw lis determinants of the supply curve to shift outward.
Using the Supply and Demand Schedules to...
.1. The table below shows the demand for and supply of rental housing in Windhoek. The city govemment is considering imposing a rent ceiling of NS700 a month. Help the government to analyze the effects of the proposed rent ceiling. dollars per month) (units per month units per month) 500 600 700 800 900 1,200 1,000 800 600 400 200 100 0 100 Draw the demand and supply curves. With no rent ceiling, what is the rent and how many...
All the boxes are increase/decrease
Rent Control 1000 In the figure to the right, the rent control (price ceiling) of apartments is set to $300. Rent control the quantity of apartments, producer surplus from what it would be if the market were in equilibrium, consumer surplus from what it would be if the market were in equilibrium, and the total market surplus. 900- 800- Supply Price per apartment CS b Rent control Demand 0 300 700 1000 600 900 12:00...
Refer to the graph below for questions 7-9: Price Supply 15 12 Demand 40 50 80 104 130 Quantity Suppose the market in the graph is originally in equilibrium at a price of $15. If the government implements a price ceiling at $20, what will be the market outcome? 7. a. Surplus of 90 units b. Surplus of 54 units c. Shortage of 90 units d. Shortage of 54 units e. Market will remain in equilibrium with a quantity of...
Refer to the table below. If the price of this good is $2.00, there would be of Quantity Quantity Price Demanded 10 20 30 Supplied $10.00 $8.00 $6.00 $4.00 $2.00 $0.00 100 80 60 40 20 60 O shortage: 20 O surplus: 50 Oshortage: 30 O surplus:30 O surplus:20
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