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

Author Question: Refer to Figure 4-6. What is the value of producer surplus after the imposition of the price floor? ... (Read 83 times)

TVarnum

  • Hero Member
  • *****
  • Posts: 548
on: Jun 29, 2018
Refer to Figure 4-6. What is the value of producer surplus after the imposition of the price floor?
 
  A) 3,000 B) 3,600 C) 4,200 D) 4,500

Question 2

If incomes grow during the next year, what will happen in the market for RVs? (Assume that RVs are normal goods.)
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

frankwu0507

  • Sr. Member
  • ****
  • Posts: 322
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

If RVs are normal, an increase in income will lead to an increase in demand. The demand curve will shift to the right. This will increase the equilibrium price of an RV and also increase the equilibrium quantity sold.


TVarnum

  • Member
  • Posts: 548
Reply 2 on: Jun 29, 2018
Wow, this really help

ASDFGJLO

  • Member
  • Posts: 335
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

The most common childhood diseases include croup, chickenpox, ear infections, flu, pneumonia, ringworm, respiratory syncytial virus, scabies, head lice, and asthma.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates’s recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

Asthma is the most common chronic childhood disease in the world. Most children who develop asthma have symptoms before they are 5 years old.

Did you know?

No drugs are available to relieve parathyroid disease. Parathyroid disease is caused by a parathyroid tumor, and it needs to be removed by surgery.

Did you know?

As of mid-2016, 18.2 million people were receiving advanced retroviral therapy (ART) worldwide. This represents between 43–50% of the 34–39.8 million people living with HIV.

(A) Figure illustrating the location and appearance of a peptic ulcer in both the stomach and the du (A) Figure illustrating the location and appearance of a peptic ulcer in both the stomach and the du
Paul Colin, Figure of a Woman. Paul Colin, Figure of a Woman.
Ugonachomma display figure, Igbo, Nigeria. Ugonachomma display figure, Igbo, Nigeria.
Figure-8s on the toes mobilize joints of the foot. Figure-8s on the toes mobilize joints of the foot.
Producer acquiring energy and nutrients from the environment Producer acquiring energy and nutrients from the environment
The figure shows an LR circuit with a switch and a 240-volt battery. At the instant the switch ... The figure shows an LR circuit with a switch and a 240-volt battery. At the instant the switch ...
Video: Mechanics of Sound Animation

For a complete list of videos, visit our video library