If San Francisco were to repeal its rent control law, the prices for short rentals in the city listed on Airbnb and other peer-to-peer sites would likelyO A. fall because more housing units would become available as the average rent increased.O B. rise because so many more people would use these sites.OC. rise because there would be fewer apartments available.O D. fall because there would be fewer apartments available.

If San Francisco were to repeal its rent control law, the prices for short rentals in the city…

Answered: If San Francisco were to repeal its…

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 21
3. Suppose that the free market equilibrium price of bourbon is $5.00 a bottle, and that the government sets a price floor of $6.00 a bottle on bourbon. The most likely result of this action is that: a. b. C. d. there will now be an excess supply of bourbon the market price of bourbon will remain at $5.00 a bottle. the demand curve for bourbon will shift outward. there will now be an excess demand for bourbon.
In 1966, the Catholic Church eliminated the centuries-old requirement that members abstain from eating meat on Fridays. Catholics customarily ate fish on Friday. Given this, economics would predict that o a. the price of fish would increase and the price of meat would fall. o b. the price of both meat and fish would fall. o C. the price of both meat and fish would rise. o d. the price of fish would decrease and the price of meat would rise.
Suppose that a storm hits Antalya and wipes out tomato crop. What effect will this have on the Antalya tomato market? O Market prices wil increase, and the quantity will decrease Market prices will stay the same, and quantity will decrease. Market prices will stay the same, and quantity will rise O Market prices will fall, and quantity will rise O Market prices will fall, and the quantity will decrease
Exhibit: Consumer Equilibrium 2 Quantity of good Y per period. P M Q 0 C H K NSR B Quantity of good X per period (Exhibit: Consumer Equilibrium 2) Which of the following statements is true? Ca.Point F indicates the price of good Y. b. Point L indicates the price of good X. Oc. Points G and I represent the same level of total utility. Ⓒd. None of the above statements is true.
The graph shows the demand curve and the supply curve in the market for newpapers. Draw a horizontal line at a price at which there is a surplus of newpapers. Label it Surplus.
Suppose that the government decided to subsidize bacon producers. Will this impact supply or demand? O This will impact both supply and demand causing the supply curve and demand curve to shift to the left. This will only impact supply, causing the supply curve to shift to the left. This will only impact supply, causing the supply curve to shift to the right. This will impact both supply and demand causing the supply curve and demand curve to shift to the right.
Respond to the following matching statements with regard to the definition of supply. Match 1: The claim that other things being equal, the quantity supplied of a good increase when the price of that good rises. This matches the Law of Supply. Match 2: A graphical object showing the relationship between the price of a good and the amount that sellers are willing and able to supply at various prices. This matches the Supply curve. O Both matches are false O Match 2 is correct and Match 1 is false. O Both matches are correct. O Match 1 is correct and Match 2 is false. Next 1 Previous

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