If a government price control was set at a price of $4. Which type of price control would it be? price ceiling price floor No price control could exist above the equilibrium

Q: Suppose that the demand curve for wheat is Q=140-10p and the supply curve is Q = 10p. The government…

A: Equilibrium occurs when there is a state of no change in the market. At the point of equilibrium,…

Q: Suppose the equilibrium for the market of staplers has a price of $49 , at which 136 staplers are…

A: Price floor is the minimum price that must be paid to sellers. It is imposed to protect producers…

Q: price quantity demanded quantity supplied 300 60  30 400 55 40 500 50 50 600 45 60 700 40 70 800 35…

A: The type of price control being imposed by the government and is the highest point at which services…

Q: A deadweight loss occurs because a tax on a good (A) increases the equilibrium price in the market.…

A: The value of trades that are not completed because of taxes is known as deadweight loss. The…

Q: Which policy increases the consumption of a good?  a price floor/a price ceiling / a subsidy/ a tax

A: Consumption of goods and services is to satisfy the unlimited wants of the consumers. An increase in…

Q: Refer to the above table. If the government implemented a price control at $20 which of the…

A: A market is in equilibrium at quantity demanded equal to quantity supplied. A shortage is where the…

Q: Why do taxes create a deadweight loss the same way that regulations do? If a tax and a quota raise…

A: The loss of something which is considered to be good economically that tends to occurs due to the…

Q: In this market, the equilibrium hourly wage is S ], and the equilibrium quantity of labor is…

A: Equilibrium in a Labor Market:  The labor market is in equilibrium when the total supply of workers…

Q: Discuss the type of price control that a government would implement if it wishes to impose a…

A: Maximise social welfare is the government aim so the government interfere in the market. If the…

Q: Price Floor is the minimum legal price fixed by the Government. Select one: True O False

A: Definition  of price floor:  It is a minimum price a good or service decided by the government below…

Q: Suppose the government sets a Price Ceiling at $5. If the market equilibrium price is $3, the Price…

A: Price Ceiling is the maximum price set by the government which can be charged for a good or service.…

Q: A price ceiling is intended to benefit which group of people? consumers   producers   The…

A: Answer to the question is as follows:

Q: What potential costs and benefits might a government have to consider in deciding whether to impose…

A: Price ceiling is the government imposed price control. It is a limit on how high a price can be…

Q: Select the correct answer. When looking at rent control a price ceiling typically impacts: Group of…

A: A price ceiling is a limit set by the government or a group on how much a product, commodity, or…

Q: Suppose government regulates the price of beef and sets it below the market clearing price. Explain…

A: Price floor:- Some commodities are subject to price floors, which set a minimum price for them.…

Q: 1. What is the equilibrium price and quantity of sugar in the absence of any agricultural policy? P…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: (i) Find the equilibrium price and quantity. (ii) After parents complained about high prices, a…

A:

Q: Minimum Price  The role of the government and further government action Calculate the effects on…

A: Minimum price is also known as “Price floor”.  It is determined for the producers benefits only…

Q: government imposes a price floor of $5, then there will be a shortage there will be a surplus there…

A: Price Floor: The simple meaning of the price floor is the minimum price mandated by the government.…

Q: If a legal ceiling price is set above the equilibrium price, a shortage of the product will occur. a…

A: Price ceiling is the maximum price which can be charged for a good or service. It is generally…

Q: how can price controls be used to avoid prices from increasing further

A: Price controls are the controls over the price that are made by the government. It is often seen…

Q: Rent controls are a typical example of a price ceiling. Please select all likely consequences of…

A: answer:- •Inefficient allocation ,of apartment  •More subleting of apartment •Black market…

Q: QUESTION 9: Explain the impact on consumers, producers and society if the government decides to…

A: In a market, price control will have a significant impact on the consumer, producer, and overall…

Q: A price ceiling is not binding if what? A. people does not agree to abide by it  B. the…

A: Equilibrium is achieved in the market where quantity supplied equals quantity demand at that price.

Q: Consider rent control (a price ceiling). Who does rent control intend to benefit? Discuss some of…

A: Equilibrium is achieved at the output level where number of  property demanded equals number of…

Q: Which of the following would be the least likety result of a binding price ceiling imposed on the…

A: The price ceiling being set below the price being at equilibrium would tend to create fo shortage in…

Q: Suppose the government sets a price ceiling of $20 per gallon of gasoline in this market. What is…

A: Given Supply equation Q=4P and Demand equation: Q=200-P Price ceiling set by government at P=$20

Q: Lovers of classical music persuade the government to impose a price ceiling of €40 per ticket at…

A: Price ceiling refers to the maximum mandated amount which a seller is permitted to ask for a service…

Q: . Explain why economists usually oppose price control

A: Price control is one type of restriction on the price(P) of goods in the market. A particular…

Q: The equilibrium price is € per flu jab, and the equilibrium quantity is jabs per day. If the…

A: Since you have posted a question with multiple sub-parts, we will solve the first three subparts for…

Q: Explain some problems the government must solve, as a result of the effects of a price ceiling.…

A: Prices are a sensitive thing especially when they are of necessities. In some cases, discontent over…

Q: Suppliers of breakfast cereal persuade the government to impose a binding price floor of $5 per box…

A: When the suppliers persuade the government to impose the binding price floor of 5 $, the result will…

Q: Government price controls like price ceilings and price floors will still lead to equilibrium…

A: Government use price ceiling for the protection of consumers and price floor for the protection of…

Q: а) In this market, the equilibrium hourly wage is $ and the equilibrium quantity of labor is…

A: Equilibrium is achieved where the wage is equal to labor.

Q: The imosition of a price ceiling on a market will result

A: A ‘price ceiling’ is a price control imposed by the government on a market. A government generally…

Q: 3. The government decides that the sugar price support program is getting too expensive. It abandons…

A: As requested only question 3 will be answered here.

Q: A market is described by these equations: Demand: Q = 1300 - 4P Supply: P = 100 +.5Q Calculate…

A: Note: You have uploaded a question with multiple sub parts. Therefore, we have solved the first…

Q: The government intervenes by setting a minimum price to buy at of 600$. What type of Price control…

A: The price control is the government policy of pricing practice to regulate the economy with the…

Q: In a market with a binding price ceiling, increasingthe ceiling price willa. increase the surplus.b.…

A: A market is the collection of buyers and sellers. Demand and supply are two important forces of the…

Q: A price ceiling set below the equilibrium price search activity and the use of black markets. a.…

A: The government might regulate a market. A price ceiling or a price cap may be a government…

Q: Which government policy measure would reduce the price of a product and increase the quantity traded…

A: d. The granting of subsidy Option "d" is correct. A subsidy is a government payment paid to…

Q: Which of the following is the most likely result of a rent control law that creates a binding price…

A: A binding price ceiling happens when the public authority sets a necessary/required price on…

Q: Which group is a price floor intended to benefit? consumers   producers   The Government

A: Price floor is a minimum price at which a seller can sell a commodity.