Answer please If the government removes a binding price ceiling from a market, then the price paid by buyers willSelect 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 thegovernment will result in an-increase in the tax paid by the sellers if:Select one:O a. The supply for phone cards is inelasticOb. The demand for phone cards is price inelasticO c. The price is higherO d. The tax is placed on the buyerO e. The tax is placed on the seller

Equilibrium is achieved at the output level where Qs equals Qd.

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.

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter5: Elastic And Its Application

Section: Chapter Questions

Problem 8PA: The New York Times reported (Feb. 17, 1996) that subway ridership declined after a fare increase:...

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Question

Answer please

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

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