29. Suppose the equilibrium price of a physical examination ("physical") by a doctor is $200, and thegovernment imposes a price ceiling of $150 per physical. As a result of the price ceiling, thea. demand curve for physicals shifts to the right.b. number of physicals performed stays the same.c. quantity demanded of physicals increases, and the quantity supplied of physicalsdecreases.d. supply curve for physicals shifts to the left.30. The country of lceland produces two goods, televisions and computers. Last year, it produced 200televisions and 500 computers. This year, it produced 250 televisions and 600 computers. Given no otherinformation, which of the following events could not explain this change?a. Iceland experienced a reduction in unemployment.b. Iceland experienced an improvement in computer-making technology.c. Iceland acquired more resources.d. Any of these events could, in fact, explain the change.31. A tax on the buyers of personal computer external hard drives encouragesa. buyers to demand a smaller quantity at every price.b. sellers to supply a smaller quantity at every price.c. buyers to demand a larger quantity at every price.d. Both a) and b) are correct.

Since you have asked multiple questions, we will provide answer for the first one. Price ceiling the…

29. Suppose the equilibrium price of a physical examination ("physical") by a doctor is $200, and the government imposes a price ceiling of $150 per physical. As a result of the price ceiling, the demand curve for physicals shifts to the right. b. number of physicals performed stays the same. c. quantity demanded of physicals increases, and the quantity supplied of physicals decreases. d. supply curve for physicals shifts to the left.

29. Suppose the equilibrium price of a physical examination ("physical") by a doctor is $200, and the government imposes a price ceiling of $150 per physical. As a result of the price ceiling, the demand curve for physicals shifts to the right. b. number of physicals performed stays the same. c. quantity demanded of physicals increases, and the quantity supplied of physicals decreases. d. supply curve for physicals shifts to the left.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

29. Suppose the equilibrium price of a physical examination ("physical") by a doctor is $200, and the
government imposes a price ceiling of $150 per physical. As a result of the price ceiling, the
a. demand curve for physicals shifts to the right.
b. number of physicals performed stays the same.
c. quantity demanded of physicals increases, and the quantity supplied of physicals
decreases.
d. supply curve for physicals shifts to the left.
30. The country of lceland produces two goods, televisions and computers. Last year, it produced 200
televisions and 500 computers. This year, it produced 250 televisions and 600 computers. Given no other
information, which of the following events could not explain this change?
a. Iceland experienced a reduction in unemployment.
b. Iceland experienced an improvement in computer-making technology.
c. Iceland acquired more resources.
d. Any of these events could, in fact, explain the change.
31. A tax on the buyers of personal computer external hard drives encourages
a. buyers to demand a smaller quantity at every price.
b. sellers to supply a smaller quantity at every price.
c. buyers to demand a larger quantity at every price.
d. Both a) and b) are correct.

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