Which of the following policies would result in an increase in the quantitysupplied of a good in a market? *Providing a per-unit subsidy to sellersLevying a per-unit tax on sellersImposing a binding price ceilingO Imposing a nonbinding price floorO Imposing a binding price floor

Increase in the quantity supplied of a good in the market implies imposing a binding price floor .

Answered: Which of the following policies would…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Assume the world market for crude oil is in equilibrium at $120/barrel. How would an increase in demand together with an increase in supply (all else equal) be expected to affect the equilibrium price and quantity of crude oil? Using supply, demand and any appropriate changes, graphically illustrate your answer as part of your explanation
In Country A, it is popular for the citizen to have a glass of orange juice together with a piece of cupcake at the tea time. Recently, the citizens found that the price of orange juice increases dramatically. What are the effects on the equilibrium price and equilibrium quantity in the market of cupcake? No diagram is needed but you need to describe how the curve(s) shifts in your written explanation.
In the early 2000s the price of gasoline rose, causing the demand for hybrid cars to rise. As a result the price of hybrid cars rose. This made _____________ rise. Should the missing words be the supply or the quantity supplied?
If a market is NOT in equilibrium, then which of the following is likely to occur? The supply curve will shift to bring the market to equilibrium. The demand curve will shift to bring the market to equilibrium. The price will adjust to bring the market to equilibrium. O Nothing
What would happen to the equilibrium price and quantity of coffee if the wages of coffee-bean pickers fell and the price of tea fell?
Over the past 20 years, the average price of avocados has more than doubled. Assume that the price of avocados is determined by the forces of supply and demand. Using concepts that you have learned about supply and demand, explain whether the following is or is not a cause of the increase in price of avocado. Restrictions on imports of avocados from Mexico were gradually lifted. Improved production methods allowed for slower ripening of avocados and therefore more avocados can be reliably shipped. Mexican food, which regularly features avocados, has become more popular.
Consider that the price of basketball tickets at your college is determined by market forces. Currently, the demand and supply schedule is as follows: Quantity Demanded (# of tickets) Price Quantity Supplied (S) (# of tickets) 4 10000 7000 8 8000 7000 12 7000 7000 16 3000 7000 20 2000 7000 What are the equilibrium price and quantity of tickets? $16 and 3000 tickets. $8 and 8000 tickets. $12 and 7000 tickets. None of these answers. O O
Will the equilibrium price and quantity of ventilators increase or decrease if a new cost-saving technology is discovered?Select one: a. The discovery of this new technology is a supply shifter and will result in an increase in the quantity and decrease in the price of ventilators. b. The discovery of this new technology is a demand shifter and will result in an increase in both the quantity and price of ventilators. c. The discovery of this new technology is a supply shifter and will result in an increase in the price and decrease in the quantity of ventilators. d. The discovery of this new technology is a
Suppose the price of gasoline is $1.60 per gallon. Is the quantity demanded higher or lower than at the equilibrium price of $1.40 per gallon? What about the quantity supplied? Is there a shortage or a surplus in the market? If so, how much?
what is a rationing mechanism?
Suppose a tax on gasoline is imposed on consumers in order to discourage the consumption of oil. What will shift in the market? Demand will decrease and quantity supplied will decrease. Demand will increase and quantity supplied will decrease. Demand will decrease and quantity supplied will increase. Demand will increase and quantity supplied will increase.

Recommended textbooks for you

ENGR.ECONOMIC ANALYSIS

Economics

ISBN:

9780190931919

Author:

NEWNAN

Publisher:

Oxford University Press

Principles of Economics (12th Edition)

Economics

ISBN:

9780134078779

Author:

Karl E. Case, Ray C. Fair, Sharon E. Oster

Publisher:

PEARSON

Engineering Economy (17th Edition)

Economics

ISBN:

9780134870069

Author:

William G. Sullivan, Elin M. Wicks, C. Patrick Koelling

Publisher:

PEARSON

ENGR.ECONOMIC ANALYSIS

Economics

ISBN:

9780190931919

Author:

NEWNAN

Publisher:

Oxford University Press

Principles of Economics (12th Edition)

Economics

ISBN:

9780134078779

Author:

Karl E. Case, Ray C. Fair, Sharon E. Oster

Publisher:

PEARSON

Engineering Economy (17th Edition)

Economics

ISBN:

9780134870069

Author:

William G. Sullivan, Elin M. Wicks, C. Patrick Koelling

Publisher:

PEARSON

Principles of Economics (MindTap Course List)

Economics

ISBN:

9781305585126

Author:

N. Gregory Mankiw

Publisher:

Cengage Learning

Managerial Economics: A Problem Solving Approach

Economics

ISBN:

9781337106665

Author:

Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:

Cengage Learning

Managerial Economics & Business Strategy (Mcgraw-…

Economics

ISBN:

9781259290619

Author:

Michael Baye, Jeff Prince

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS

Which of the following policies would result in an increase in the quantity supplied of a good in a market? *