2. Which of the following is an economic policy that promotes the efficient quantityof apartments?a rent floor above the equilibrium renta rent ceiling below the equilibrium renta sales tax imposed on renting an apartmentnone of the above

An efficient quantity of output is considered as the one at which a market is able to maximize the…

Answered: 2. Which of the following is an…

Principles of Macroeconomics (MindTap Course List)

7th Edition

ISBN:9781285165912

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter7: Consumers, Producers, And The Efficiency Of Markets

Section: Chapter Questions

Problem 7PA

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5 enter your answer as whole numbers A. What is the market equilibrium rental price per month and the market equilibrium number of apartments demand and supplied? market equivalent rental price is: ______ per month B. If the local government can enforce a rental control law that sets the maximum monthly rent at $2250 will there be a surplus or a shortage? ______ Of how may units ______ apartments per month How many units will actually be rented each month? ________ apartments C. Suppose that a new government is elected that wants to keep out the poor. It declares that the minimum rent that can be charged is $3,250 per month. If the government can enforce that price floor will there be a surplus or a shortage? _______ Of how many units? _______ apartments per month how many units will actually be rented each month? _______ apartments
1. Create a price ceiling that makes it against the law for landlords to charge more than $1000 per month. 2. Give low-income renters a voucher of $300 that can be used to help pay for housing costs each month. Organize the items according to which idea they are associated with. Associated with the price ceiling Associated with the voucher Answer Bank pushes down housing costs for people who are well-off and рor alike increase the amount of available housing relies upon funding from the government reduce landlords' incentive to spend money on maintenance can be targeted to help specific subsets of the population results in firms having a reduced incentive to build new housing
The graph shows the market for rental housing in Little Rock. The market for apartments is efficient when O A. there is no rent ceiling O B. the rent ceiling is set at $300 a month O C. the quantity of apartments supplied is 6,000 a month O D. the quantity of apartments demanded is 12,000 a month O E. the rent charged is less than $450 Rent (dollars per month) 600 450 300 150 S D 8 Quantity (thousands of units)
what will happen to the equilibrium of mobile phones of government announces higher sales taxes on mobile phones?
3. Graph the demand curve and if the price is 6 please shade the consumer surplus Price 0 2 4 6 8 10 12 Demand 60 50 40 30 20 10 0
5. The Canadian government provides subsidies to diaper manufacturers to produce biodegradable diapers and reduce waste created. What happens to the market when the government introduces a subsidy?
What is the relationship between total surplus and economic efficiency?
BN7.3 (c) (d) Survivor 1 & Survivor 2 are lost in the Woods. The Quantities of Good A & Good B are in Fixed Supply. The Edgeworth Box below shows all the possible allocations of these 2 Goods & can be used to answer the following Questions: For each statement below, note whether the Statement is True or False & Why? Good B Survivor 2 B A Good A c) Point A is less efficient than Point B. True or False? Survivor 1 d) If Survivor 2 has more of Good A than Survivor 1, then Survivor 1 prefers Point A to Point B. True or False?
11:13 AM Mon 22 Mar @ 62% McGraw-Hill ConnectEd Question 4 Section 1: 4/30 A Surplus $12 10 | 4 demanded At $9 there is a surplus of burritos 44 supplied 8. 2 4 12 20 28 36 44 52 60 Quantity The graph indicates a surplus of burritos at a price of $9. Why did this surplus occur? 200 words remaining Save & Continue » Price 4.
Look at the figure The Market for Hotel Rooms. Suppose the equilibrium price is $110 and the equilibrium quantity is 250. If the local government levies a tax of $30 per night on each hotel room rented, the new equilibrium price will equal_ and the new equilibrium quantity will equal .(explain solving process please) A) $140; 100 B) $130; 150 C) $120; 200 D) $110; 250 Price $140 130 120 110 100 S3 .S₂ S₁ So 100 150 200 250 300 Quantity
Graph the following data on social and market demand: Im pretty sure I have the graph correct but I am unsure how to find the anwsers to the questions. Price ($) 20 18 16 14 12 10 Market quantity demanded (units per month) 10 20 30 40 50 60 Social quantity demanded (units per month) 20 30 40 50 60 70 Does this product have external benefits or external costs? How large ($) is that externality
9 Erika's evaluation of packets of nacho chips in terms of $MU is shown in table below. Marginal Consumer Surplus Quantity of Chips 1 2 3 4 5 SMU $ 3.50 2.70 1.90 1.50 1.40 Price $1.30 1.30 1.30 1.30 1.30 $ Total Consumer Surplus $ If Erika buys five packets, calculate her marginal consumer surplus for each packet and the total consumer surp complete table above. Round your answers to 2 decimal places.

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2. Which of the following is an economic policy that promotes the efficient quantity of apartments? a rent floor above the equilibrium rent a rent ceiling below the equilibrium rent a sales tax imposed on renting an apartment none of the above