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Author Question: If the government fixes the price of good X above its free-market equilibrium level, we should expect (Read 56 times)

lol1012

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on: Oct 12, 2022

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.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by lol1012 on Oct 12, 2022

brunoanthony

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Reply #1 on: Oct 12, 2022
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.
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lol1012

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Reply 2 on: Oct 12, 2022
Excellent

shewald78

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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