Author Question: If you were a government official that wanted to raise the equilibrium price of milk, which of the ... (Read 42 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?

Human kidneys will clean about 1 million gallons of blood in an average lifetime.

Did you know?

Throughout history, plants containing cardiac steroids have been used as heart drugs and as poisons (e.g., in arrows used in combat), emetics, and diuretics.

Did you know?

A headache when you wake up in the morning is indicative of sinusitis. Other symptoms of sinusitis can include fever, weakness, tiredness, a cough that may be more severe at night, and a runny nose or nasal congestion.

Did you know?

Limit intake of red meat and dairy products made with whole milk. Choose skim milk, low-fat or fat-free dairy products. Limit fried food. Use healthy oils when cooking.

Did you know?

The first-known contraceptive was crocodile dung, used in Egypt in 2000 BC. Condoms were also reportedly used, made of animal bladders or intestines.

For a complete list of videos, visit our video library