Homework Answers
A price floor is the minimum price or a lower limit placed by the government or a regulatory authority on the price of a commodity. A non-binding price floor is the price floor that is less than the current market price. A non binding price floor does not have any consequences.
Option 3
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It had no effect on consumers or firms in this situation. O It increased the incentive...
O The quantity demanded will always be smaller than the quantity su Question 8 2 pts...
O The quantity demanded will always be smaller than the quantity su Question 8 2 pts What will happen in a market where a nonbinding price floor is removed? The products sold will become more plentiful. The price or quantity of the product sold on the legal market will ot change. 0 There will be upward pressure on the prices 0 There will be downward pressure on the pric There will be increased pressure to buy and sell the good...
I want to know the answer of these question and why this is not correct. Incorrect...
I want to know the answer of these question and why this is not
correct.
Incorrect Question 9 0/0.5 pts Market equilibrium occurs when: the market clears. there is no incentive for prices to change in the market, quantity demanded equals quantity supplied, and the market clears. there is no incentive for prices to change in the market. O quantity demanded equals quantity supplied. Incorrect Question 36 0/0.5 pts Which factor will NOT cause an increase in demand for good...
7. Market equilibrium occurs when: A) there is no incentive for prices to change in the...
7. Market equilibrium occurs when: A) there is no incentive for prices to change in the market. B) quantity demanded equals quantity supplied. C) the market clears. D) there is no incentive for prices to change in the market, quantity demanded equals quantity supplied, and the market clears. in equilibrium 8. An increase in supply with no change in demand will lead to quantity and in equilibrium price. A) an increase; an increase B) an increase; a decrease C) a...
Transaction costs include costs of negotiating contracts with other firms. cost of enforcing contracts. the existence...
Transaction costs include
costs of negotiating contracts with other firms.
cost of enforcing contracts.
the existence of asset-specificity.
all of the above
1.25000 points
QUESTION 8
Firms are organized to keep their costs as low as possible
by
comparing internal operating cost and external transactions cost
associated with outsourcing.
analyzing supply and demand conditions.
minimizing their use of borrowed funds.
pricing their products appropriately.
1.25000 points
QUESTION 9
Consider the following graph, which shows two lines. The
downward-sloping...
market-clearing level? O A. shift the demand curve to the left, initially creating a shortage until...
market-clearing level? O A. shift the demand curve to the left, initially creating a shortage until the price falls to where quantity supplied again equals quantity demanded B. shift the demand curve to the left, initially creating a surplus until the price rises to where quantity supplied again equals quantity demanded O C. cause the supply curve to become fixed, initially creating a surplus until the price falls to where quantity supplied again equals quantity D. ○ E. shift the...
What do economists say is problematic with the allocative efficiency of a monopoly? Consumers will suffer...
What do economists say is problematic with the allocative efficiency of a monopoly? Consumers will suffer from a monopoly because it will sell a higher quantity in the market at a lower price compared to a firm in a perfectly competitive market. Monopolies are not inefficient. They produce the optimal quantity of some output the quantity where the marginal benefit to society of one more unit just equals the marginal cost. Companies can offer a wide range of services at...
4. The following gives some fake data for the quantity of flights from NYC to LA...
4. The following gives some fake data for the quantity of flights from NYC to LA on December 1" demanded and supplied. Price Quantity Demanded (hundreds) Quantity Supplied (hundreds) $100 $200 $300 $400 $500 $600 a. Graph the supply and demand curves (your drawing does not have to be exactly to scale) b. Find the equilibrium price and quantity. c. Why is $500 not the equilibrium price for this market? d. Suppose Thanksgiving is postponed until December 2d. How would...
DQuestion 1 2 pts The dynamic laws of supply and demand tell us that: prices have...
DQuestion 1 2 pts The dynamic laws of supply and demand tell us that: prices have a natural tendency to rise or increase even when the quantity supplied equals the quantities demanded. excess demand leads to a tendency of prices to fall or decrease. the greater the excess supply, the greater the tendency of prices to fall or decrease. excess supply leads to a tendency of prices to rise or increase. D Question 2 2 pts Simple Supply and Demand...
Recall this information from the text: “Price ceilings prevent a price from rising above a certain...
Recall this information from the text: “Price ceilings prevent a price from rising above a certain level. When a price ceiling is set below the equilibrium price, the quantity demanded will exceed quantity supplied, and excess demand or shortages will result. Price floors prevent a price from falling below a certain level. When a price floor is set above the equilibrium price, quantity supplied will exceed quantity demanded, and excess supply or surpluses will result. Price floors and price ceilings...
12. Market equilibrium and disequilibrium Use the graph input tool to help you answer the following...
12. Market equilibrium and disequilibrium The following graph shows the monthly demand and supply curves in the market for keyboards.Use the graph input tool to help you answer the following questions. Enter an amount into the Price field to see the quantity demanded and quantity supplied at that price.The equilibrium price in this market is $_______ per keyboard, and the equilibrium quantity is _______ keyboards bought and sold per month. Complete the following table by indicating at each price whether there is...
O The quantity demanded will always be smaller than the quantity su Question 8 2 pts What will happen in a market where a nonbinding price floor is removed? The products sold will become more plentiful. The price or quantity of the product sold on the legal market will ot change. 0 There will be upward pressure on the prices 0 There will be downward pressure on the pric There will be increased pressure to buy and sell the good...
I want to know the answer of these question and why this is not
correct.
Incorrect Question 9 0/0.5 pts Market equilibrium occurs when: the market clears. there is no incentive for prices to change in the market, quantity demanded equals quantity supplied, and the market clears. there is no incentive for prices to change in the market. O quantity demanded equals quantity supplied. Incorrect Question 36 0/0.5 pts Which factor will NOT cause an increase in demand for good...
7. Market equilibrium occurs when: A) there is no incentive for prices to change in the market. B) quantity demanded equals quantity supplied. C) the market clears. D) there is no incentive for prices to change in the market, quantity demanded equals quantity supplied, and the market clears. in equilibrium 8. An increase in supply with no change in demand will lead to quantity and in equilibrium price. A) an increase; an increase B) an increase; a decrease C) a...
Transaction costs include
costs of negotiating contracts with other firms.
cost of enforcing contracts.
the existence of asset-specificity.
all of the above
1.25000 points
QUESTION 8
Firms are organized to keep their costs as low as possible
by
comparing internal operating cost and external transactions cost
associated with outsourcing.
analyzing supply and demand conditions.
minimizing their use of borrowed funds.
pricing their products appropriately.
1.25000 points
QUESTION 9
Consider the following graph, which shows two lines. The
downward-sloping...
market-clearing level? O A. shift the demand curve to the left, initially creating a shortage until the price falls to where quantity supplied again equals quantity demanded B. shift the demand curve to the left, initially creating a surplus until the price rises to where quantity supplied again equals quantity demanded O C. cause the supply curve to become fixed, initially creating a surplus until the price falls to where quantity supplied again equals quantity D. ○ E. shift the...
What do economists say is problematic with the allocative efficiency of a monopoly? Consumers will suffer from a monopoly because it will sell a higher quantity in the market at a lower price compared to a firm in a perfectly competitive market. Monopolies are not inefficient. They produce the optimal quantity of some output the quantity where the marginal benefit to society of one more unit just equals the marginal cost. Companies can offer a wide range of services at...
4. The following gives some fake data for the quantity of flights from NYC to LA on December 1" demanded and supplied. Price Quantity Demanded (hundreds) Quantity Supplied (hundreds) $100 $200 $300 $400 $500 $600 a. Graph the supply and demand curves (your drawing does not have to be exactly to scale) b. Find the equilibrium price and quantity. c. Why is $500 not the equilibrium price for this market? d. Suppose Thanksgiving is postponed until December 2d. How would...
DQuestion 1 2 pts The dynamic laws of supply and demand tell us that: prices have a natural tendency to rise or increase even when the quantity supplied equals the quantities demanded. excess demand leads to a tendency of prices to fall or decrease. the greater the excess supply, the greater the tendency of prices to fall or decrease. excess supply leads to a tendency of prices to rise or increase. D Question 2 2 pts Simple Supply and Demand...
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