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

Author Question: A price ceiling below the market clearing price results in I. excess quantity demand II. excess ... (Read 179 times)

future617RT

  • Hero Member
  • *****
  • Posts: 543
on: Jun 29, 2018
A price ceiling below the market clearing price results in I. excess quantity demand II. excess quantity supplied III. entry of new producers
 
  A) I only
  B) II only
  C) III only
  D) Both I and III

Question 2

Here's what we know about last year's weekly demand for 2-night DVD rentals in the Village of Harmony: When P = 3, Qd = 100; at P = 5, Qd = 75; and when P = 7, Qd = 50. This year the village population has increased by 25.
 
  What impact is this most likely to have? A) Each individual's demand for DVD rentals will increase.
  B) Each individual's demand curve for DVD rentals will shift to the left.
  C) The market demand curve for DVD rentals shifts left.
  D) The market demand for DVD rentals increases.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Sassygurl126

  • Sr. Member
  • ****
  • Posts: 320
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

D


future617RT

  • Member
  • Posts: 543
Reply 2 on: Jun 29, 2018
:D TYSM

Sarahjh

  • Member
  • Posts: 370
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Cyanide works by making the human body unable to use oxygen.

Did you know?

Multiple sclerosis is a condition wherein the body's nervous system is weakened by an autoimmune reaction that attacks the myelin sheaths of neurons.

Did you know?

Although the Roman numeral for the number 4 has always been taught to have been "IV," according to historians, the ancient Romans probably used "IIII" most of the time. This is partially backed up by the fact that early grandfather clocks displayed IIII for the number 4 instead of IV. Early clockmakers apparently thought that the IIII balanced out the VIII (used for the number 8) on the clock face and that it just looked better.

Did you know?

Certain topical medications such as clotrimazole and betamethasone are not approved for use in children younger than 12 years of age. They must be used very cautiously, as directed by a doctor, to treat any child. Children have a much greater response to topical steroid medications.

Did you know?

You should not take more than 1,000 mg of vitamin E per day. Doses above this amount increase the risk of bleeding problems that can lead to a stroke.

Norway lobsters on sale at a Spanish market Norway lobsters on sale at a Spanish market
Alan Price - Poor People Alan Price - Poor People
As the glass ceiling slowly cracks, women are gaining entry into the top positions of society. Shown ... As the glass ceiling slowly cracks, women are gaining entry into the top positions of society. Shown ...
Hillary Clinton broke through the glass ceiling in politics when she was elected senator from New ... Hillary Clinton broke through the glass ceiling in politics when she was elected senator from New ...
National Results of the Scholastic Assessment Test (SAT) National Results of the Scholastic Assessment Test (SAT)
Results of the serial dilution technique and subsequent culture of bacteria Results of the serial dilution technique and subsequent culture of bacteria
Video: Interview with Person who has Panic Attacks

For a complete list of videos, visit our video library