When are government intervention or government regulations beneficial to consumers?         when they impose regulations on businesses that limit profits         when they limit consumer choices by regulating goods sold by private firms         when they limit the number of businesses permitted to open and sell goods to consumers         when they impose safety regulations that determine how bicycle helmets are manufactured

Q: Click on the icon to read the news clip, then answer the following questions. The graph shows the…

A: Production of an additional unit of a good or service has an additional cost, known as the marginal…

Q: Show what happens to the supply or demand curve in each of the following situations (only ONE curve…

A: The demand curve is the graphical representation of the price and quantity demanded of a product,…

Q: Answer the following questions with the graph and match the key words with the correct box.   a)…

A: a) Before the government regulation, the price of crab is determined by the intersection of the…

Q: Recently, the Metropolitan Transportation Authority (MTA) voted to pass a policy that charges…

A: Externality in economics is a situation where the activities of one party impacts the other party…

Q: Describe one way the government might impact the Dairy products industry with price controls,…

A: Price control - This can be implemented in different ways such as price floors or ceilings which…

Q: Consider the market for outdoor porch swings. The following graph shows the supply and the demand…

A: Price controls are described as the economic tool utilized by the government to restrict price…

Q: If a government decided to impose price controls on gasoline, what could it do to avoid the time…

A: Price controls on commodities like gasoline are government-imposed limits on the prices charged for…

Q: If all consumers became vegetarians, what impacts would this have on the meat industry and animal…

A: The equilibrium price and quantity in a market are determined by the forces of demand and supply.…

Q: Explain how and why the "invisible hand" works to ensure that producers provide quality services and…

A: Invisible hand is simply the idea of how the market gets sorted through the forces of demand and…

Q: Which of the following are public goods? a. Air bags b. Pencils c. Cycle helmets d. City…

A: Public goods have two essential features which are non-rival and non-exclusion. 1) Non-rival –…

Q: How do price controls affect the market?

A: Price control is the technique used by the government to stabilize the demand and supply in the…

Q: There are several hamburger shops around you. You are trying to find ways to make your hamburger…

A: A monopolistically competitive firm will look to differentiate its product from its competitors as…

Q: Consider the market for outdoor porch swings. The following graph shows the supply and the demand…

A: The total surplus in a market is a computation of the total well-being of all participants in a…

Q: Which of the following statements is not one of the ways that government regulations protect the…

A: The objective of the question is to identify the statement that does not accurately represent how…

Q: How might price controls on gasoline lead to human fatalities in an area where there is an oncoming…

A: Price control in an area leads to a problem such as shortage, rationing, deterioration of product…

Q: Choose one of the following examples and explain whether you think that the government should ban…

A: Banning any product is not the ultimate solution to any of the issue because it will create a…

Q: How is the increase in post-secondary education (e.g. positive externality) going to effect consumer…

A: Education is the elementary right of every human being. It improves the capacity to locate and…