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Author Question: Suppose the demand for eggs is inelastic and that the market-clearing price is $1.50 per dozen. Now ... (Read 69 times)

llesku

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on: Oct 12, 2022

Question 1




FIGURE 5-3

Refer to Figure 5-3. If the government imposes a price floor at P3, the result would be a price and quantity combination of


◦ P3 and Q3.
◦ P1 and Q0.
◦ P3 and Q0.
◦ P3 and Q4.
◦ P2 and Q1.

Question 2

Suppose the demand for eggs is inelastic and that the market-clearing price is $1.50 per dozen. Now suppose the government imposes a minimum price of $2.00 per dozen. Why might the government implement such a policy?
◦ to decrease tax revenues from egg farmers
◦ to make consumers better off
◦ to increase the incomes of egg farmers
◦ to reduce excess supply in the egg market
◦ to increase excess demand in the egg market
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by llesku on Oct 12, 2022

kuttz

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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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llesku

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Reply 2 on: Oct 12, 2022
Thanks for the timely response, appreciate it

Dominic

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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