Homework Answers
The answer is option a- Deadweight loss does not exist when there are quantity controls
A loss of deadweight is a cost to society that is created by market inefficiency when supply and demand are out of balance. Deadweight loss, primarily used in economics, can be applied to any deficiency caused by inefficient resource allocation. Price ceilings, such as price controls and rental controls; price floors, such as minimum wage and living wage laws; and taxation can potentially result in losses of deadweight. The allocation of resources in a society can also become inefficient with a reduced level of trade.
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I pes D Question 1 Which is not a correct statement about the undesirable side effect...
I need help with these Mcq's please. Thank you 37. Efficiency in a market is achieved...
I need help with these Mcq's please. Thank you
37. Efficiency in a market is achieved when cial planner intervenes and sets the quantity of output after evaluating buyers willingness to pay and sellers' costs the sum of producer surplus and consumer surplus is maximized all firms are producing the end at the same low cost per unit. no buyer is willing to pay more than the equilibrium price for any unit of the good. C ( 38. Total surplus...
QUESTION 1 Which of the folllowing statements is correct? Oa The tax revenue can go up or go down depending on th...
QUESTION 1 Which of the folllowing statements is correct? Oa The tax revenue can go up or go down depending on the situation when the tax size is increased. Ob.Tax revenue will not change when the tax size is changed. OCThere is always a negative relationship between the tax size and tax revenue. d. There is always a positive relationship between the tax size and tax revenue. QUESTION 2 In which of the following cases the deadweight loss will increase...
1. The services of real estate brokers are provided in a competitive market. If the Oregon...
1. The services of real estate brokers are provided in a competitive market. If the Oregon Association of Realtors enacts new requirements that limit the number of real estate brokers, which of the following is most likely to occur? A) Producer surplus will increase. B) Entry of new brokers will increase. C) Consumer surplus will increase. D) Social welfare will increase. 2. Which of the following best describes the market reaction if the Oregon Liquor Control Commission restricts the number...
25. Too few resources are devoted to the creation of knowledge because profit-seeking firms A) B) C) D) undervalue...
25. Too few resources are devoted to the creation of knowledge because profit-seeking firms A) B) C) D) undervalue knowledge in their pursuit of revenues. abuse their patents. tend to free-ride on the knowledge that others have developed. tend to rely on existing employee knowledge. 26. If policymakers use a pollution tax to control pollution, the tax per unit of pollution should be set A) B) equal to the marginal external cost at the economically efficient level of pollution. equal...
1.) What is the main difference between a competitive firm and a monopoly? a. A competitive...
1.) What is the main difference between a competitive firm and a monopoly? a. A competitive firm owns a key resource, but a monopoly firm does not. b. A competitive firm is a price taker, and a monopoly is a price maker. c. A competitive firm produces output at a lower cost than a monopoly firm. d. A competitive firm is subject to government regulations, but a monopoly firm is not. 2.) What is the main social problem caused by...
1) After considering the situation of market power for my software and how it changed after...
1) After considering the situation of market power for my software and how it changed after the introduction of competitors, consider situations of natural disasters and how governments respond to shortages resulting from them. Read this article; what is the most likely way that anti-gouging laws potentially can increase social welfare? Select one: a. Penalties assessed on price gougers can be redistributed to victims or the area at large that was affected by the natural disaster. In that sense, the...
(1) If the world price is above the domestic equilibrium price, the domestic country is likely...
(1)
If the world price is above the domestic equilibrium price, the
domestic country is likely to ____________________ the good.
(2)
The difference between what an economy sells to and buys from
foreigners is _________________.
(3)
The idea that exchange rates and prices adjust to equalize the
cost of living across international boundaries is called
__________________________.
(4)
In the graph below, when the world price is $3, how many units
are...
Economic quizs, please help check my answers. UNIVERSITY JON Question 1 Ia member of a cartel...
Economic quizs, please help check my answers.
UNIVERSITY JON Question 1 Ia member of a cartel is the first to alert authorities to the cartel behavior, which of the following w occur to this member firm? Not yet answered Points out of 1.00 P er question 3 10 11 12 Select one: • A. The firm will not be penalized. B. The firm's most senior managers will face jail time. 5 16 17 18 C. The firm will face significant...
I need Summary of this Paper i dont need long summary i need What methodology they used , what is the purpose of this...
I need Summary of this Paper i dont need long summary i need
What methodology they used , what is the purpose of this paper and
some conclusions and contributes of this paper. I need this for my
Finishing Project so i need this ASAP please ( IN 1-2-3 HOURS
PLEASE !!!)
SPECIAL ARTICLES tole of Monetary Policy C Rangarajan What should be the objectives of monetary policy? Does the objective of price stability conflict with the goal of achieving...
I need help with these Mcq's please. Thank you
37. Efficiency in a market is achieved when cial planner intervenes and sets the quantity of output after evaluating buyers willingness to pay and sellers' costs the sum of producer surplus and consumer surplus is maximized all firms are producing the end at the same low cost per unit. no buyer is willing to pay more than the equilibrium price for any unit of the good. C ( 38. Total surplus...
QUESTION 1 Which of the folllowing statements is correct? Oa The tax revenue can go up or go down depending on the situation when the tax size is increased. Ob.Tax revenue will not change when the tax size is changed. OCThere is always a negative relationship between the tax size and tax revenue. d. There is always a positive relationship between the tax size and tax revenue. QUESTION 2 In which of the following cases the deadweight loss will increase...
25. Too few resources are devoted to the creation of knowledge because profit-seeking firms A) B) C) D) undervalue knowledge in their pursuit of revenues. abuse their patents. tend to free-ride on the knowledge that others have developed. tend to rely on existing employee knowledge. 26. If policymakers use a pollution tax to control pollution, the tax per unit of pollution should be set A) B) equal to the marginal external cost at the economically efficient level of pollution. equal...
(1)
If the world price is above the domestic equilibrium price, the
domestic country is likely to ____________________ the good.
(2)
The difference between what an economy sells to and buys from
foreigners is _________________.
(3)
The idea that exchange rates and prices adjust to equalize the
cost of living across international boundaries is called
__________________________.
(4)
In the graph below, when the world price is $3, how many units
are...
Economic quizs, please help check my answers.
UNIVERSITY JON Question 1 Ia member of a cartel is the first to alert authorities to the cartel behavior, which of the following w occur to this member firm? Not yet answered Points out of 1.00 P er question 3 10 11 12 Select one: • A. The firm will not be penalized. B. The firm's most senior managers will face jail time. 5 16 17 18 C. The firm will face significant...
I need Summary of this Paper i dont need long summary i need
What methodology they used , what is the purpose of this paper and
some conclusions and contributes of this paper. I need this for my
Finishing Project so i need this ASAP please ( IN 1-2-3 HOURS
PLEASE !!!)
SPECIAL ARTICLES tole of Monetary Policy C Rangarajan What should be the objectives of monetary policy? Does the objective of price stability conflict with the goal of achieving...
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