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

Author Question: What happens to the quantity of cell phones supplied and the supply of cell phones if the price of a ... (Read 180 times)

hbsimmons88

  • Hero Member
  • *****
  • Posts: 526
on: Jun 29, 2018
What happens to the quantity of cell phones supplied and the supply of cell phones if the price of a cell phone falls?
 
  What will be an ideal response?

Question 2

Refer to Figure 4-5. Suppose that instead of a price ceiling, the government imposed a price floor of R1. What is the area representing producer surplus after the imposition of the price floor?
 
  A) B + C + D + E + F B) A C) B + D + F D) C + E


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

jaygar71

  • Sr. Member
  • ****
  • Posts: 323
Reply #1 on: Jun 29, 2018
Answer to Question 1

If the price of cell phones falls and nothing else changes, then the quantity of cell phones supplied will decrease and there is a movement down along the supply curve for cell phones. The supply of cell phones, however, remains unchanged and the supply curve does not shift.

Answer to Question 2

C


hbsimmons88

  • Member
  • Posts: 526
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

JaynaD87

  • Member
  • Posts: 368
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

The modern decimal position system was the invention of the Hindus (around 800 AD), involving the placing of numerals to indicate their value (units, tens, hundreds, and so on).

Did you know?

Aspirin is the most widely used drug in the world. It has even been recognized as such by the Guinness Book of World Records.

Did you know?

A seasonal flu vaccine is the best way to reduce the chances you will get seasonal influenza and spread it to others.

Did you know?

The first monoclonal antibodies were made exclusively from mouse cells. Some are now fully human, which means they are likely to be safer and may be more effective than older monoclonal antibodies.

Did you know?

Calcitonin is a naturally occurring hormone. In women who are at least 5 years beyond menopause, it slows bone loss and increases spinal bone density.

Microfilaments and Cell Movements Microfilaments and Cell Movements
Local/long distance cell Signaling Local/long distance cell Signaling
Stem Cell Hierarchy Stem Cell Hierarchy
EEG and Single-Cell Activity EEG and Single-Cell Activity
Schematic of a flow cytometer. The laser interacts with the cell in the quartz flow cell. Three ... Schematic of a flow cytometer. The laser interacts with the cell in the quartz flow cell. Three ...
Surface molecules involved in the interaction between an antigen-presenting cell and a CD4+ T cell. Surface molecules involved in the interaction between an antigen-presenting cell and a CD4+ T cell.
Video: What are Taste Receptors? How Does it Work? Animation

For a complete list of videos, visit our video library