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Author Question: Assume that your state government has placed a price ceiling of .20 per kilowatt hour on ... (Read 57 times)

lilldybug07

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on: Jun 29, 2018
Assume that your state government has placed a price ceiling of .20 per kilowatt hour on electricity. The equilibrium price per kilowatt hour for electricity is .25. The government's action will result in
 
  A) a surplus of electricity in the electricity market.
  B) an increase in the price of electricity to .25 per kilowatt hour.
  C) an increase in producer surplus.
  D) a deadweight loss.

Question 2

A major purpose of tariffs is to
 
  A) encourage imports.
  B) encourage exports.
  C) discourage imports.
  D) discourage exports.


sylvia

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

C


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