Author Question: If you were a government official that wanted to raise the equilibrium price of milk, which of the ... (Read 35 times)

kaid0807

  • Hero Member
  • *****
  • Posts: 515
If you were a government official that wanted to raise the equilibrium price of milk, which of the following actions would you take?
 a. Take milk from government storage and sell it.
  b. Encourage farmers to produce more milk.
  c. Subsidize purchases of dairy equipment.
  d. Encourage farmers to produce less milk.

Question 2

If Congress decides to reduce the tax per pack paid by sellers of cigarettes, other things being equal, the equilibrium price of cigarettes will fall. This fall in the equilibrium price can be attributed to a(n):
 a. upward movement along the supply curve for cigarettes.
  b. rightward shift of the supply curve for cigarettes.
  c. upward movement along the demand curve for cigarettes.
  d. leftward shift of the supply curve for cigarettes.



ms_sulzle

  • Sr. Member
  • ****
  • Posts: 320
Answer to Question 1

d

Answer to Question 2

b



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question


 

Did you know?

The U.S. Preventive Services Task Force recommends that all women age 65 years of age or older should be screened with bone densitometry.

Did you know?

In 1844, Charles Goodyear obtained the first patent for a rubber condom.

Did you know?

In most climates, 8 to 10 glasses of water per day is recommended for adults. The best indicator for adequate fluid intake is frequent, clear urination.

Did you know?

Over time, chronic hepatitis B virus and hepatitis C virus infections can progress to advanced liver disease, liver failure, and hepatocellular carcinoma. Unlike other forms, more than 80% of hepatitis C infections become chronic and lead to liver disease. When combined with hepatitis B, hepatitis C now accounts for 75% percent of all cases of liver disease around the world. Liver failure caused by hepatitis C is now leading cause of liver transplants in the United States.

Did you know?

As many as 28% of hospitalized patients requiring mechanical ventilators to help them breathe (for more than 48 hours) will develop ventilator-associated pneumonia. Current therapy involves intravenous antibiotics, but new antibiotics that can be inhaled (and more directly treat the infection) are being developed.

For a complete list of videos, visit our video library