1) When a binding price ceiling is imposed on a market, price no longer serves...
1)
When a binding price ceiling is imposed on a market,
price no longer serves as a rationing device.
the quantity supplied at the price ceiling exceeds the quantity that would have been supplied without the price ceiling.
all buyers benefit.
All of the above are correct.
2)
Constant returns to scale occur when a firm’s
marginal costs are constant as output increases.
long-run average total costs are decreasing as output increases.
long-run average total costs are increasing as output increases.
long-run average total costs do not vary as output increases.
Homework Answers
a) "A"
When a binding price ceiling is imposed in the market then the demand exceeds the supply and there is a shortage in the market, here, the price doesn't act as a rationing devices.
b) "D"
When the long run average total cost do not vary as output increases it is considered as constant return to scale.
Add Answer to:
1)
When a binding price ceiling is imposed on a market,
price no longer serves...
If a binding price ceiling is imposed on the computer market, then the quantity of computers demanded will increase. t...
If a binding price ceiling is imposed on the computer market, then the quantity of computers demanded will increase. the quantity of computers supplied will decrease. a shortage of computers will develop. all of the above. O
When a price ceiling is imposed, the price system is prohibited from rationing the product in...
When a price ceiling is imposed, the price system is prohibited from rationing the product in the market in which the ceiling was imposed What other alternative rationing methods are available to determine who receives the scarce commodity? O A. Queuing, shortages, and favoring customers. OB. Queuing, rationing, and ration coupons. O C. Queuing, favoring customers, and ration coupons OD. Queuing, shortages, and price increases
Suppose Price Control B is imposed as a price ceiling. Characterize the situation in the market...
Suppose Price Control B is imposed as a price ceiling. Characterize the situation in the market by selecting all of the correct responses below: Price (S) Price Control B is O A. a binding price ceiling. O B. a non-binding price ceiling. When Price Control B is imposed as a price ceiling. O A. the quantity sold in the market will be equal to the equilibrium quantity OB. the quantity sold in the market will be less than the equilibrium...
If a price ceiling is imposed below equiibrium in the market for apartments: a. it results...
If a price ceiling is imposed below equiibrium in the market for apartments: a. it results in a surplus of rental units in the near future. b. it acts as an incentive to landlords to invest more money in their property to attract more tenants c. it results in many rental units being poorly maintained. d. it reduces the amount of housing discrimination against minorities. it reduces the resulting shortage by allowing further pice reducins 23. Ifthe minimum wage for...
True or False: A price ceiling below $25 per box is a binding price ceiling in this market.
2. Price controls in the Florida orange market The following graph shows the annual market for Florida oranges, which are sold in units of 90-pound boxes. Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. In this market, the equilibrium price is $_______ per...
When binding price ceilings are imposed: a. every seller in the market benefits because of higher...
When binding price ceilings are imposed: a. every seller in the market benefits because of higher prices. b. some buyers will not be able to buy any of the product. c. every buyer in the market benefits because of higher prices. d. the quantity sellers want to sell will equal the quantity buyers want to buy.
When a binding price floor is imposed on a market to benefit sellers, a. no sellers...
When a binding price floor is imposed on a market to benefit sellers, a. no sellers actually benefit. b. some sellers benefit, but no sellers are harmed. c. some sellers benefit, and some sellers are harmed. d. all sellers benefit.
A binding price floor exists when the price is not allowed to increase above a certain...
A binding price floor exists when the price is not allowed to increase above a certain level. True False Effective and binding price floors will NOT lead to a social surplus "dead-weight-loss." True False Inferior goods are negatively correlated to changes in income, i.e., as income increases the demand for inferior goods decreases. True False If the price of tennis rackets increases and causes the demand for tennis balls to shift to the left, Tennis rackets and tennis balls are...
These two question please Question 8 (1 point) When do constant returns to scale occur? when...
These two question please
Question 8 (1 point) When do constant returns to scale occur? when long-run total costs are constant as output increases when long-run average total costs are constant as output increases when the firm's long-run average-cost curve is falling as output increases when the firm's long-run average-cost curve is rising as output increases Figure 13-4 The curves in this figure reflect information about the average total cost, average fixed cost, average variable cost, and marginal cost for...
Question 5 1 pts Diseconomies of scale occur when a firm's marginal costs are constant as...
Question 5 1 pts Diseconomies of scale occur when a firm's marginal costs are constant as output increases. long-run average total costs are decreasing as output increases. long-run average total costs are increasing as output increases. O marginal costs are equal to average total costs for all levels of output. Question 6 1 pts
If a binding price ceiling is imposed on the computer market, then the quantity of computers demanded will increase. the quantity of computers supplied will decrease. a shortage of computers will develop. all of the above. O
When a price ceiling is imposed, the price system is prohibited from rationing the product in the market in which the ceiling was imposed What other alternative rationing methods are available to determine who receives the scarce commodity? O A. Queuing, shortages, and favoring customers. OB. Queuing, rationing, and ration coupons. O C. Queuing, favoring customers, and ration coupons OD. Queuing, shortages, and price increases
Suppose Price Control B is imposed as a price ceiling. Characterize the situation in the market by selecting all of the correct responses below: Price (S) Price Control B is O A. a binding price ceiling. O B. a non-binding price ceiling. When Price Control B is imposed as a price ceiling. O A. the quantity sold in the market will be equal to the equilibrium quantity OB. the quantity sold in the market will be less than the equilibrium...
If a price ceiling is imposed below equiibrium in the market for apartments: a. it results in a surplus of rental units in the near future. b. it acts as an incentive to landlords to invest more money in their property to attract more tenants c. it results in many rental units being poorly maintained. d. it reduces the amount of housing discrimination against minorities. it reduces the resulting shortage by allowing further pice reducins 23. Ifthe minimum wage for...
These two question please
Question 8 (1 point) When do constant returns to scale occur? when long-run total costs are constant as output increases when long-run average total costs are constant as output increases when the firm's long-run average-cost curve is falling as output increases when the firm's long-run average-cost curve is rising as output increases Figure 13-4 The curves in this figure reflect information about the average total cost, average fixed cost, average variable cost, and marginal cost for...
Question 5 1 pts Diseconomies of scale occur when a firm's marginal costs are constant as output increases. long-run average total costs are decreasing as output increases. long-run average total costs are increasing as output increases. O marginal costs are equal to average total costs for all levels of output. Question 6 1 pts
Most questions answered within 3 hours.
-
The price of 1 lb of potatoes is $1.75. If all the potatoes sold
today at...
asked 41 minutes ago -
Garcia Company issues 20.00%, 15-year bonds with a par value of
$470,000 and semiannual interest payments....
asked 39 minutes ago -
In C++ Programming, Try using loops only.
This lab demonstrates the use of the While Loop...
asked 1 hour ago -
Effect of DCMU and sodium azide on Chlamydomonas? We did an
experiment where we had Chlamydomonas...
asked 2 hours ago -
1a) According to the ideal gas law, _______________.
a. a gas has infinite volume at absolute...
asked 3 hours ago -
Oakdale Fashions, Inc. had $245,000 in 2018 taxable income.
Using the tax schedule in Table 2.3...
asked 4 hours ago -
The marketing class at CSUS had an average score of 150. An
educational analyst determined that...
asked 5 hours ago -
Justin Case has purchased a $250 000 home by putting 20 % down
and taking out...
asked 5 hours ago -
1. In a labor market, marginal cost for a firm is
____________.
a. recruiting cost
b....
asked 6 hours ago -
On January 1, 2019, ABC Company issued $60,000,000 of 20-year,
10.5% bonds when the market rate...
asked 6 hours ago -
39.4% of US homes continue to use a landline in addition to cell
phone service. 3...
asked 7 hours ago -
Starting with benzene, synthesize 1-phenyl-1-butyne.
Show intermediates and reagents.
asked 8 hours ago