This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: In 1970s the federal government imposed price controls on natural gas. Which of the following ... (Read 37 times)

cagreen833

  • Hero Member
  • *****
  • Posts: 544
on: Jul 1, 2018
In 1970s the federal government imposed price controls on natural gas. Which of the following statements is true?
 
  A) These price controls caused a chronic excess supply of natural gas.
  B) Consumers gained from the price controls, because consumer surplus was larger than it would have been under free market equilibrium.
  C) Producers gained from the price controls because producer surplus was larger than it would have been under free market equilibrium.
  D) This episode of price controls was unusual, because it resulted in no deadweight loss to society.

Question 2

Sugar can be refined from sugar beets. When the price of those beets falls,
 
  A) the demand curve for sugar would shift right.
  B) the demand curve for sugar would shift left.
  C) the supply curve for sugar would shift right.
  D) the supply curve for sugar would shift left.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

coreycathey

  • Sr. Member
  • ****
  • Posts: 333
Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

C


cagreen833

  • Member
  • Posts: 544
Reply 2 on: Jul 1, 2018
Great answer, keep it coming :)

jackie

  • Member
  • Posts: 324
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

The heart is located in the center of the chest, with part of it tipped slightly so that it taps against the left side of the chest.

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Did you know?

Asthma occurs in one in 11 children and in one in 12 adults. African Americans and Latinos have a higher risk for developing asthma than other groups.

Did you know?

Glaucoma is a leading cause of blindness. As of yet, there is no cure. Everyone is at risk, and there may be no warning signs. It is six to eight times more common in African Americans than in whites. The best and most effective way to detect glaucoma is to receive a dilated eye examination.

Did you know?

HIV testing reach is still limited. An estimated 40% of people with HIV (more than 14 million) remain undiagnosed and do not know their infection status.

Blending inheritance formed the basis of nineteenth-century critiques of evolution by natural select Blending inheritance formed the basis of nineteenth-century critiques of evolution by natural select
Should we restore YellowstoneNationalPark, as our flagship National Park, to include the natural ... Should we restore YellowstoneNationalPark, as our flagship National Park, to include the natural ...
Action! Children love to talk about the actions of adults and animals, which provides a natural way ... Action! Children love to talk about the actions of adults and animals, which provides a natural way ...
Prentice Hall's Federal Taxation 2014 Corporations, Partnerships, Estates & Trusts, 27th ... Prentice Hall's Federal Taxation 2014 Corporations, Partnerships, Estates & Trusts, 27th ...
If the price charged for a candy bar is p(x) cents, then x thousand candy bars will be sold in ... If the price charged for a candy bar is p(x) cents, then x thousand candy bars will be sold in ...
The consequences of the intensity of natural selection on allele frequency. The consequences of the intensity of natural selection on allele frequency.
Video: Carbohydrate Metabolism: Introduction to renal processes and filtrate formation and composition

For a complete list of videos, visit our video library