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

Author Question: The price of a gallon of gasoline in Bonland is 3.20. However, just before the election, the ... (Read 31 times)

savannahhooper

  • Hero Member
  • *****
  • Posts: 576
on: Jun 29, 2018
The price of a gallon of gasoline in Bonland is 3.20. However, just before the election, the government decides to fix the price of gasoline at 2.80 per gallon. This is an example of a ________.
 
  A) positive externality
  B) negative externality
  C) price floor
  D) price ceiling

Question 2

What are the conditions that define a monopoly?
 
  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

Leostella20

  • Sr. Member
  • ****
  • Posts: 337
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

There is only one firm producing a good or service with no close substitutes for the good or service sold and there are barriers to entry that prevent competing firms from entering the market.


savannahhooper

  • Member
  • Posts: 576
Reply 2 on: Jun 29, 2018
Wow, this really help

AngeliqueG

  • Member
  • Posts: 343
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Nitroglycerin is used to alleviate various heart-related conditions, and it is also the chief component of dynamite (but mixed in a solid clay base to stabilize it).

Did you know?

For pediatric patients, intravenous fluids are the most commonly cited products involved in medication errors that are reported to the USP.

Did you know?

A serious new warning has been established for pregnant women against taking ACE inhibitors during pregnancy. In the study, the risk of major birth defects in children whose mothers took ACE inhibitors during the first trimester was nearly three times higher than in children whose mothers didn't take ACE inhibitors. Physicians can prescribe alternative medications for pregnant women who have symptoms of high blood pressure.

Did you know?

In the ancient and medieval periods, dysentery killed about ? of all babies before they reach 12 months of age. The disease was transferred through contaminated drinking water, because there was no way to adequately dispose of sewage, which contaminated the water.

Did you know?

The Romans did not use numerals to indicate fractions but instead used words to indicate parts of a whole.

The Disputed Election of 1876 The Disputed Election of 1876
Alan Price - Poor People Alan Price - Poor People
Many gasoline service stations have signs posted warning customers to place plastic fuel containers ... Many gasoline service stations have signs posted warning customers to place plastic fuel containers ...
A flex-fuel vehicle often has a yellow gas cap, which is labeled “E85/gasoline”. A flex-fuel vehicle often has a yellow gas cap, which is labeled “E85/gasoline”.
How to create a price index to calculate inflation for a basket of goods How to create a price index to calculate inflation for a basket of goods
The retail price of a packaged CD is $60.00, which includes a tax of 4%. What is the actual ... The retail price of a packaged CD is $60.00, which includes a tax of 4%. What is the actual ...
Video: Requirements for nervous signals

For a complete list of videos, visit our video library