Homework Answers
Answer
Option 3
A binding price floor
A binding price floor is a minimum price and it is binding if
the price is above the equilibrium
A price ceiling is a maximum price and it is binding if it is below
the equilibrium
equilibrium is at S=D
where
P=16 and the horizontal line above it is $23 which is a binding
price floor
=======
Answer
Option 3
C+F
The deadweight loss is the area between demand and supply and
changed quantities because of the price floor
before price floor Q=47 and after price floor Q=20
and the P=23 and producer willingness to accept at the place.
so it is C+F
Add Answer to:
204757 The graph shown best represents: Multiple Choice O a missing market. O a binding price...
Skipped F WE--- According to the graph shown, if the market goes from equilibrium to having...
Skipped F WE--- According to the graph shown, if the market goes from equilibrium to having its price set at $10 then: Multiple Choice consumer surplus will decrease from (A + B + C) to (B+C) only. consumer surplus will increase from (A + B + C) to A only. o ooo O consumer surplus (B+C) will transfer to producers. consumer surplus will decrease by (B+C). Pre (5) Skipped 10 20 30 40 50 60 70 80 90 Quantity According...
29 3 00:54:03 After a price ceiling of $8 is placed on the market in the...
29 3 00:54:03 After a price ceiling of $8 is placed on the market in the graph shown, which area represents total surplus? Multiple Choice O A+B+C+D E F G A.B.C.DE 0 A+CHE O A+B+C+D+E+F
According to the graph shown, if the market goes from equilibrium to having its price set at $10: Multiple Choice...
According to the graph shown, if the market goes from equilibrium to having its price set at $10: Multiple Choice O deadweight loss will occur. seven fewer units will be exchanged O ) consumer surplus will decrease. O < Page 18 of 35 18 Next > According to the graph shown, if the market goes from equilibrium to having its price set at $10 Multiple Choice o deadweight loss will occur. o seven fewer units will be exchanged. o consumer...
Consider the market shown below: 20 47 57 After a price floor of $23 per unit...
Consider the market shown below: 20 47 57 After a price floor of $23 per unit is placed on this market, the total number of units traded falls by 20 relative to equilibrium. falls by 27 relative to equilibrium. falls by 47 relative to equilibrium. increases by 10 relative to equilibrium. Consider the market shown below: If a price ceiling of $8 per unit were placed on this market, which area would represent surp! AC+D+F+G B.CD C.F+G D.C
The graph represents a market with a price floor. Drag and drop the markers to identify...
The graph represents a market with a price floor. Drag and drop the markers to identify which areas on the graph represent consumer surplus (CS), producer surplus (PS) and deadweight loss (DWL). You will need to place a marker in each of the identified areas: A, B, C, D. Markers may be used multiple times. For best results, place th Question 12 Not yet answered Points out of marker's circle in the center of the area.) 2.22 P Flag question...
Which of the following changes to the market in the graph shown could cause the price floor to become non-binding?
Which of the following changes to the market in the graph shown could cause the price floor to become non-binding?Multiple ChoiceSupply could decrease, and shift to the left.Supply could increase, and shift to the right.Demand could decrease, and shift to the left.Supply could increase, and shift to the left.
050105 Consider the market shown below: If a price ceiling of $8 per unit were placed...
050105 Consider the market shown below: If a price ceiling of $8 per unit were placed on this market, which area would represent producer surplus? O C + D +E O C+D+F+G Ο Ε O A + C + E
7. The following graph represents the market for baseball tickets. Assume the government places ceiling of...
7. The following graph represents the market for baseball tickets. Assume the government places ceiling of $30. (3 pts.) Price Market for Baseball Tickets $40 L - - $30 Quantity a. What benefit occurs as a result of the price ceiling? b. Is there a shortage or a surplus of tickets? Or will the market remain in equilibrium? c. Identify the area that represents the deadweight loss.
Midterm Part 2 t 2 Help Save & E If a price floor of $23 were...
Midterm Part 2 t 2 Help Save & E If a price floor of $23 were placed on the market in the graph shown, which area represents the surplus that is transferred f consumers to producers? Multiple Choice + C
After a price floor of $23 is placed on the market in the graph shown, the...
After a price floor of $23 is placed on the market in the graph shown, the total number of units traded: Multiple Choice falls by 27 relative to equilibrium O falls by 20 relative to equilibrium falls by 37 relative to equilibrium < Prev 22 of 35 Next > Multiple Choice falls by 27 relative to equilibrium. O falls by 20 relative to equilibrium. o falls by 37 relative to equilibrium. o increases by 10 relative to equilibrium. < Prev...
Skipped F WE--- According to the graph shown, if the market goes from equilibrium to having its price set at $10 then: Multiple Choice consumer surplus will decrease from (A + B + C) to (B+C) only. consumer surplus will increase from (A + B + C) to A only. o ooo O consumer surplus (B+C) will transfer to producers. consumer surplus will decrease by (B+C). Pre (5) Skipped 10 20 30 40 50 60 70 80 90 Quantity According...
29 3 00:54:03 After a price ceiling of $8 is placed on the market in the graph shown, which area represents total surplus? Multiple Choice O A+B+C+D E F G A.B.C.DE 0 A+CHE O A+B+C+D+E+F
According to the graph shown, if the market goes from equilibrium to having its price set at $10: Multiple Choice O deadweight loss will occur. seven fewer units will be exchanged O ) consumer surplus will decrease. O < Page 18 of 35 18 Next > According to the graph shown, if the market goes from equilibrium to having its price set at $10 Multiple Choice o deadweight loss will occur. o seven fewer units will be exchanged. o consumer...
Consider the market shown below: 20 47 57 After a price floor of $23 per unit is placed on this market, the total number of units traded falls by 20 relative to equilibrium. falls by 27 relative to equilibrium. falls by 47 relative to equilibrium. increases by 10 relative to equilibrium. Consider the market shown below: If a price ceiling of $8 per unit were placed on this market, which area would represent surp! AC+D+F+G B.CD C.F+G D.C
The graph represents a market with a price floor. Drag and drop the markers to identify which areas on the graph represent consumer surplus (CS), producer surplus (PS) and deadweight loss (DWL). You will need to place a marker in each of the identified areas: A, B, C, D. Markers may be used multiple times. For best results, place th Question 12 Not yet answered Points out of marker's circle in the center of the area.) 2.22 P Flag question...
050105 Consider the market shown below: If a price ceiling of $8 per unit were placed on this market, which area would represent producer surplus? O C + D +E O C+D+F+G Ο Ε O A + C + E
7. The following graph represents the market for baseball tickets. Assume the government places ceiling of $30. (3 pts.) Price Market for Baseball Tickets $40 L - - $30 Quantity a. What benefit occurs as a result of the price ceiling? b. Is there a shortage or a surplus of tickets? Or will the market remain in equilibrium? c. Identify the area that represents the deadweight loss.
Midterm Part 2 t 2 Help Save & E If a price floor of $23 were placed on the market in the graph shown, which area represents the surplus that is transferred f consumers to producers? Multiple Choice + C
After a price floor of $23 is placed on the market in the graph shown, the total number of units traded: Multiple Choice falls by 27 relative to equilibrium O falls by 20 relative to equilibrium falls by 37 relative to equilibrium < Prev 22 of 35 Next > Multiple Choice falls by 27 relative to equilibrium. O falls by 20 relative to equilibrium. o falls by 37 relative to equilibrium. o increases by 10 relative to equilibrium. < Prev...
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