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Select one: O a. decrease, and the quantity sold in the market will decrease. O b. increase, and the quantity sold in the market will decrease. O c. increase, and the quantity sold in the market will increase. O d. decrease, and the quantity sold in the market will increase.

Select one: O a. decrease, and the quantity sold in the market will decrease. O b. increase, and the quantity sold in the market will decrease. O c. increase, and the quantity sold in the market will increase. O d. decrease, and the quantity sold in the market will increase.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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If the government removes a binding price ceiling from a market, then the price paid by buyers will Select one: O a. decrease, and the quantity sold in the market will decrease. b. increase, and the quantity sold in the market will decrease. Oc. increase, and the quantity sold in the market will increase. d. decrease, and the quantity sold in the market will increase.
Transcribed Image Text:If the government removes a binding price ceiling from a market, then the price paid by buyers will Select one: O a. decrease, and the quantity sold in the market will decrease. b. increase, and the quantity sold in the market will decrease. Oc. increase, and the quantity sold in the market will increase. d. decrease, and the quantity sold in the market will increase.
The government of your country has recently decided to put a tax on calling cards. This decision by the government will result in an-increase in the tax paid by the sellers if: Select one: O a. The supply for phone cards is inelastic Ob. The demand for phone cards is price inelastic O c. The price is higher O d. The tax is placed on the buyer O e. The tax is placed on the seller
Transcribed Image Text:The government of your country has recently decided to put a tax on calling cards. This decision by the government will result in an-increase in the tax paid by the sellers if: Select one: O a. The supply for phone cards is inelastic Ob. The demand for phone cards is price inelastic O c. The price is higher O d. The tax is placed on the buyer O e. The tax is placed on the seller
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