This topic contains a solution. Click here to go to the answer

Author Question: If the government fixes the price of good X above its free-market equilibrium level, we should expect (Read 89 times)

lol1012

  • Full Member
  • ***
  • Posts: 149

Question 1

The diagram below shows the market for some agricultural product, X.



FIGURE 5-8

Refer to Figure 5-8. Assume the market for product X is at its free-market equilibrium. What is the weekly amount of economic surplus in this market?


◦ $900
◦ $1800
◦ $450
◦ $2700
◦ $5400

Question 2

If the government fixes the price of good X above its free-market equilibrium level, we should expect
◦ a surplus of good X to occur.
◦ an excess demand for good X.
◦ a new free-market equilibrium price to be established.
◦ a hidden market to arise for good X.
◦ a shortage of good X to occur.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by lol1012 on Oct 12, 2022

brunoanthony

  • Full Member
  • ***
  • Posts: 169
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 56% of students answer this correctly




lol1012

  • Member
  • Posts: 149
Reply 2 on: Oct 12, 2022
Excellent


upturnedfurball

  • Member
  • Posts: 334
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

Did you know?

Warfarin was developed as a consequence of the study of a strange bleeding disorder that suddenly occurred in cattle on the northern prairies of the United States in the early 1900s.

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?

Normal urine is sterile. It contains fluids, salts, and waste products. It is free of bacteria, viruses, and fungi.

Did you know?

Vampire bats have a natural anticoagulant in their saliva that permits continuous bleeding after they painlessly open a wound with their incisors. This capillary blood does not cause any significant blood loss to their victims.

Did you know?

Eat fiber! A diet high in fiber can help lower cholesterol levels by as much as 10%.

For a complete list of videos, visit our video library