Typed plz and asap thanks Solve all parts I will upvote How is a surplus in the market typically eliminated?By decreasing the quantity demandedBy increasing the price of the good or serviceBy reducing the price of the good or service, which encourages consumers to demand more and producers to supply lessNone of the optionsWhat is the definition of Price Elasticity of Supply (PES)?The responsiveness of the quantity supplied of a good or service to a change in its price, holding all other factors constantThe responsiveness of the quantity demanded of a good or service to a change in its price, holding all other factors constant.The responsiveness of producer income to a change in the price of a good or serviceNone of the optionsA negative externality in the real estate market could be the result of:O The construction of a new school, increasing the value of nearby homesThe opening of a landfill site near a residential area, decreasing the value of nearby propertiesThe renovation of a historic building, attracting tourists and boosting local businessesNone of the options

A surplus is an economic term that refers to a situation where the quantity of a good or service…

How is a surplus in the market typically eliminated? OBy decreasing the quantity demanded O By increasing the price of the good or service. By reducing the price of the good or service, which encourages consumers to demand more and producers to supply less None of the options

How is a surplus in the market typically eliminated? OBy decreasing the quantity demanded O By increasing the price of the good or service. By reducing the price of the good or service, which encourages consumers to demand more and producers to supply less None of the options

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Typed plz and asap thanks

Solve all parts I will upvote

How is a surplus in the market typically eliminated?
By decreasing the quantity demanded
By increasing the price of the good or service
By reducing the price of the good or service, which encourages consumers to demand more and producers to supply less
None of the options
What is the definition of Price Elasticity of Supply (PES)?
The responsiveness of the quantity supplied of a good or service to a change in its price, holding all other factors constant
The responsiveness of the quantity demanded of a good or service to a change in its price, holding all other factors constant.
The responsiveness of producer income to a change in the price of a good or service
None of the options
A negative externality in the real estate market could be the result of:
O The construction of a new school, increasing the value of nearby homes
The opening of a landfill site near a residential area, decreasing the value of nearby properties
The renovation of a historic building, attracting tourists and boosting local businesses
None of the options

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