Rent control creates the incentive for landlords to: a. not build and maintain more apartments. Ob. build and maintain more apartments. Oc. convert apartments into office space, which is not subject to rent control. O a and c Ob and c
Q: A 30 Premium (high income) EQ 2 Premium (low income) 100 EQ 1 50 55 High income households in A…
A: Answer -
Q: a. What factors determine the elasticity of resource demand? Ease of resource substitutability,…
A: a. The elasticity of resource demand is determined by whether or not the resource has close…
Q: Monthly income = salary of 1200 and a gov welfare payment of 800 Y= 2000 Needs to use this income…
A: Given Monthly Income = 1200 Price of Food (PF) = 1 Price of Goods (PG) = 2 We know that Bidgte…
Q: Mr. Ali buys salt from the grocery store near his house. Which type of buying behavior it is? O a.…
A: Buying behavior of consumer depicts the decision making act of a consumer while making a purchase.…
Q: Production Possibility Curve is also known as O a. None of these O b. Demand curve Oc. Supply curve…
A: Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: Mr. Renato put up a cafeteria without applying for a business permit, one-day government…
A: Licensing: The term licensing refers to getting permission from the licensor. Basically, it is a…
Q: 300 250 200 150 100 D2 Do D1 1 2 3 5 6 4 a. What causes the demand curve to shift? Create a…
A: Factors causing shift in demand curve:- 1) Consumer income:- Any changes in customer's income will…
Q: Metcalf (2009) argues that a significant contributor to housing shortages in high growth/restricted…
A: The housing market, too, depends heavily on supply and demand, which is the reason it is a much…
Q: 4. Effects of Rent Control Rent controls force landlords to price property below the equilibrium…
A: Rent control: - Rent control restricts the property owners to charge above a certain price level for…
Q: Marginal rate of transformation is negative because of O A) Law of diminishing marginal utility O B)…
A: Marginal rate of transformation(MRT) is the units of a good sacrificed in order to achieve one unit…
Q: PF+ 5Pc PE price pod F, PF is the price of good C related in consumption, I is the consumer come.…
A: Quantity demand has an inverse relationship with price of a good as increase in price lead to…
Q: Suppose that Congress caps executive pay at a level below the equilibrium. The quantity of…
A: The demand curve depicts the quantity demanded at each price level, keeping other factors of demand…
Q: Milk is flowing like never before in the U.S., where dairies have expanded output enough to send…
A: Demand refers to the total amount of a good an individual is able and willing to buy at the given…
Q: 2. An infinite number of sellers exist in this type of market. 3. It is a past expenditure that…
A: Factors of production are the inputs used in the process of production, these can be labor(L),…
Q: When consumers have less disposable income, they. Select one: O a. spend more on non-essential…
A: Answer to the question is as follows :
Q: elect one: D a. demand is elastic O b. supply is elastic Oc. the tax is placed on the buyer O d. the…
A: Elasticity of demand depicts how much consumer responds with the change in the price level.
Q: Price and quantity supplied shares_ relationship. a. Positive O b. No relationship O c. Negative d.…
A: In an economy, the curve that is used to explain the connection between the price and quantity…
Q: 47. An increase in the supply of a commodity is caused by A. O Improvements in technology B. O Fall…
A: Answer 47) An increase in supply of the commodity is caused by Option(d) is correct that is all the…
Q: Variables to consider for consumer markets are? O d. Space specific, race or age, and mental states…
A: While studying the consumer market or selling the product, the businesses study “Demographics of the…
Q: QUESTION 19 Which of the following is a microeconomic statement? O A. The real domestic output…
A: Microeconomics deals with individual firms and goods. Macroeconomics deals with the whole economy as…
Q: In the market for a nonrenewable natural resource, the equilibrium price is the price that gives…
A: At the marketplace, when buyers and sellers are exchanging a non-renewable resource, it can be said…
Q: 2. State whether the following claims are True, False, or Uncertain. Explain why your respo is…
A: The profit of the firm is given by the difference between total revenue and total cost And this…
Q: 2. Attending college is a case where the Lof not going exceeds the monetary cost of tuition. A) A.…
A: In economics, two activities are related if they both are performed using a specific input, for…
Q: 1. In case of perfectly inelastic supply- a. The resource substitution for the good is nearly…
A:
Q: The opportunity cost of a purchase is: O A) always equal to the selling price of what you purchased.…
A: Opportunity cost is defined as the benefits an individual, business, or investor forgoes when he/she…
Q: Equilibrium price or market clearing price is the price where Select one: a. Demand and supply…
A: Market refers to the place where goods are exchanged. There are different kinds of markets that have…
Q: Price Floors is a maximum legal price fixed by the government Select one: O a. False O b. True
A: Price ceiling is a kind of price control where the government sets the highest bound on the price of…
Q: Aji used to consume 100 units of X and 50 units of Y when the price of X was $2 and the price of Y…
A: Budget Constraint shows the different combinations of goods that a consumer is able to afford with…
Q: On April 1, thne price gas at B65' ner Station was $3./0 per gallon. On 1, the price was $4.45 per…
A: Here we calculate the following blanks and explain by using the given information , so the…
Q: Salem saves 300 riyals every month to build his future. What is the value of this position? A-…
A: Salem saves 300 riyals every month to build his future. What is the value of this position? A-…
Q: Goods that are produced by one firm for use in further processing by another firm is Select one: a.…
A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a…
Q: In the figure above, the initial demand curve is Do. There are no rent celilings nor rent floors.…
A: Initially, the demand curve is D0 and the equilibrium will be at $300 per month.
Q: 2.Ques-A high school social science teacher reads an article about a shopping mall that straddles…
A: Macroeconomics focuses on aggregate economic developments that study the processes, structures, and…
Q: All else equal, airline tickets are typically more expensive if bought close to the date of travel.…
A: Businesses employ price discrimination to optimize revenue by charging clients various prices…
Q: O a. -520 O'b.-600 Oc. -560 O d. -480 QUESTION 25 Tim loves to collect Lego architecture sets.…
A: Consumer Surplus = Maximum Willingness to pay Price - Actual Price of the product. Tims willingness…
Q: The condition that arises because the available resources are insufficient to satisfy wants Select…
A: All the economic terms provide information about a specific market or economic condition that is…
Q: 1. The cost of production is a major determinant of consumer demand. O a. True O b. False
A: Cost of production can be defined as the entire or the total amount of cost that a business/firm…
Q: Teresa spends her entire scholarship of PLN 600 for the purchase of drinks and food. 1. Draw…
A: Total Budget: PLN 600 Price of drink (x) = 5 zlotys Price of dinner (y) = 20 zlotys
Q: Table 2.2: Supply of Units of Pizza (in a Month) in a Small Town Prices Firm A Firm B Firm C $4 10 4…
A: There are generally two terms: Quantity supplied and supply When price remains same and other…
Q: If occupancy is higher than the equilibrium level, what are you likely to observe in the market for…
A: Since you have asked multiple questions, we will solve first question for you. If you want any…
Q: Homogeneous goods are O A. always inferior goods O B. perfect substitutes OC. similar but not…
A: A homogenous product is one that is indistinguishable from rival products from various providers. To…
Q: Suppose the money wage rate rises from $40.00 to $46.74 an hour and consumer prices rises by 14…
A: The labor market refers to the market wherein the quantity of labor is demanded and supplied. The…
Q: Refer to the accompanying table to answer the next six questions. Quantity of Quantity of Monthly…
A: Equilibrium in the market occurs at the intersection of demand and supply curves.
Q: Government intervention can increase total welfare when O A. there are costs or benefits that are…
A: Government intervention is desired when market fails to produce efficient quantity.
Q: Assume that the basket of goods consumed in an economy are: Hamburger, leans and Movie tickets The…
A: The measure that depicts the final value of goods and services produced in an economy within a given…
Q: 10: Market denmand Is most dosely related to the: O (A) law of increasing opportunity cost aspect of…
A: Scarcity implies that the world has a limited amount of resources to fulfill unlimited human wants.…
Q11
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Diagram SD1 SO S1 SO SO $1 D1 DO DO DO DO Quantity Quantity Quantity Quantity Graph A Graph B Graph C Graph D Refer to Diagram SD1. A rise in worker's productivity can be best illustrated by Graph O B O A O D Price Price Price PriceDo 100 200 300 400 500 600 Quantity (thousonds of aportments per month) In the figure above, the initial demand curve is Do. There are no rent celilings nor rent floors. The equilibrium monthly rent is Select one: O a. $100 per month. O b. $200 per month. O c. $300 per month. O d. $400 per month. Rent (hundreds of dollars per month) 21An increase in product A's supply is likely to result from an O a. Increase in the price of product A. O b. Improvement in technology that lowers the cost of producing product A. c. Increase in the price of substitute product B. O d. Increase in the price of a factor of production used in the production of product A.
- 4. Effects of Rent Control Rent controls force landlords to price property below the equilibrium price level. An effect of this is to create a shortage (excess demand) of rental property, as the quantity of rental property demanded is greater than the quantity supplied at that price. When legislation prevents landlords from charging market rents, what can happen in the long run as a result? Check all that apply O Non-price methods of rationing emerge. O The future supply of rental housing units increases. O Efficient use of housing space results. O Landlords earn lower profits from renting housing units, but the rent charged has no effect on either the quanbty or quality of rental units. Grade it Now Save & Continue Continue without saving202 -2021 Bahar A car retail store reduces prices by 15 percent each year until the cars are sold. What will a $190000 car sell for in 7 years? O A. $60709.60 O B. $60909.60 OC. $60609.60 O D. $60809.60 Seçimimi temizle Sonraki sayfaA 0. Number of cassette tapes per month Mark's budget constraint is AB. It would pivot to AC if the price of Select one: O a. CDs increased. O b. CDs decreased. O c. cassette tapes decreased. O d. cassette tapes increased. Number of CDs month per
- K Figure 4.2.2 The Market for Robotic Rubber Ducks Price $40 $ 50 $ 60 $70 $ 80 $ 90 $100 Quantity Demanded OA 70,450 OB. 70: 350 OC. 50:450 OD. 50, 350 OE 60,400 500 450 400 350 300 250 200 Quantity Supplied 300 350 400 450 500 550 600 Look at Table 4.2.2. Consumers learn that rubber ducks wear out batteries quickly. As a result, demand decreases by 100 rubber ducks at each pnce. The new equum price nubber ducks the new equilibrium quantity is Tine Remaining 00:30-40 NestA numeraire good is O A) A good worth money O B) A good whose value is agreed upon O C) A good widely used in trade O D) A good in which the value of other goods is expressed5 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  
- Think back to a purchase that you made recently. How would you describe your thinking before you made that purchase?04. The maximum that buyers are willing to pay for the 8-th unit of this product is a) $2 b) $4 c) $8 d) $12By definition: a substitute is a good that: Select one: O a. has same likeness as another good O b. that is not used in place of another good O c. of lower quality than another good O d. of higher quality than another good