Assuming the original four physicians, if a price ceiling is set at $25 per office visit, How many will be supplied?
Price per visit | Quantity demanded | Quantity supplied |
$20 | 300 | 150 |
25 | 275 | 175 |
30 | 250 | 200 |
35 | 225 | 225 |
40 | 200 | 250 |
45 | 175 | 275 |
50 | 150 | 300 |
Assuming the original four physicians, if a price ceiling is set at $25 per office visit, How many will be supplied?
| a. 200 |
| b. 175 |
| c. 150 |
| d. 125 |
| e. None of the above |
Homework Answers
Answer : Option B is correct. If the price ceiling of $25 has been set than the Quantity supplied has been decreased as the Quantity supplied is 175 units. It is below equiliburm price.
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Assuming the original four physicians, if a price ceiling is set at $25 per office visit, How many will be supplied?
Assuming the original four physicians, if a price ceiling is set at $25 per office visit, how many office visits will be demanded per week?
Price per visitQuantity demandedQuantity supplied$20300150252751753025020035225225402002504517527550150300Assuming the original four physicians, if a price ceiling is set at $25 per office visit, how many office visits will be demanded per week?a. 300b. 250c. 275d. 225e. None of the above
Assuming the original four physicians, if a price ceiling is set at $25 per office visit, the outcome of such a policy will be
Price per visitQuantity demandedQuantity supplied$20300150252751753025020035225225402002504517527550150300Assuming the original four physicians, if a price ceiling is set at $25 per office visit, the outcome of such a policy will be a. A stable equilibrium. b. Higher quantity supplied than demanded. c. An oversupply of physician visits. d. A shortage of physician visits. e. None of the above.
If one of the physicians moves to another city, reducing quantity supplied by 25 at each price, what are the price and quantity at the new equilibrium (roughly)?
Price per visitQuantity demandedQuantity supplied$20300150252751753025020035225225402002504517527550150300If one of the physicians moves to another city, reducing quantity supplied by 25 at each price, what are the price and quantity at the new equilibrium (roughly)?a. P= between 35 & 40, Q= between 200 & 225b. P= between 25 & 30, Q= between 175 & 200c. P= between 45 & 50, Q= between 275 & 300d. P= between 20 & 25, Q= between 150 & 175e. None of the above
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Year Price of Good A Quantity of Good A Price of Good B Quantity of Good...
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