Author Question: If you were a government official that wanted to raise the equilibrium price of milk, which of the ... (Read 16 times)

kaid0807

  • Hero Member
  • *****
  • Posts: 515
If you were a government official that wanted to raise the equilibrium price of milk, which of the following actions would you take?
 a. Take milk from government storage and sell it.
  b. Encourage farmers to produce more milk.
  c. Subsidize purchases of dairy equipment.
  d. Encourage farmers to produce less milk.

Question 2

If Congress decides to reduce the tax per pack paid by sellers of cigarettes, other things being equal, the equilibrium price of cigarettes will fall. This fall in the equilibrium price can be attributed to a(n):
 a. upward movement along the supply curve for cigarettes.
  b. rightward shift of the supply curve for cigarettes.
  c. upward movement along the demand curve for cigarettes.
  d. leftward shift of the supply curve for cigarettes.



ms_sulzle

  • Sr. Member
  • ****
  • Posts: 320
Answer to Question 1

d

Answer to Question 2

b



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question


 

Did you know?

The types of cancer that alpha interferons are used to treat include hairy cell leukemia, melanoma, follicular non-Hodgkin's lymphoma, and AIDS-related Kaposi's sarcoma.

Did you know?

The first successful kidney transplant was performed in 1954 and occurred in Boston. A kidney from an identical twin was transplanted into his dying brother's body and was not rejected because it did not appear foreign to his body.

Did you know?

About 600,000 particles of skin are shed every hour by each human. If you live to age 70 years, you have shed 105 pounds of dead skin.

Did you know?

Colchicine is a highly poisonous alkaloid originally extracted from a type of saffron plant that is used mainly to treat gout.

Did you know?

Eating food that has been cooked with poppy seeds may cause you to fail a drug screening test, because the seeds contain enough opiate alkaloids to register as a positive.

For a complete list of videos, visit our video library