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- The table shows the demand and supply schedules for on-campus housing. If the college puts a rent ceiling on rooms of $600 a month, what is the rent, how many rooms are rented, and is the on-campus housing market efficient? CELEB If the college puts a rent ceiling on rooms of $600 a month, the rent is $ and the number of rooms rented is Rent (dollars per month) 500 550 600 650 700 750 Quantity demanded 5,000 4,500 4,000 3,500 3,000 2,500 (rooms) Quantity supplied 4,500 4,500 4,500 4,500 4,500 4,500The graph shows the market for apartments in a city. Monthly rent (per apartment) $1,200 1,000 Winners and Losers from Rent Control D B C 160 A 200 S D Quantity of apartments (thousands) If the maximum monthly rent is $1,000, the quantity of apartments rented is units less than the equilibrium amount. thousandThe following graph shows the supply curve for a group of students looking to sell used statistics textbooks. Each student has only one used textbook to sell. Each rectangular segment under the supply curve represents the "cost," or minimum acceptable price, for one student. Assume that anyone who has a cost just equal to the market price is willing to sell his or her used textbook. (?) 430 190 Eleen ancy Susan 70 Raphael 1. QUANTITY (Ued lebeoka) Region A (the purple shaded area) represents the total producer surplus when the market price is , while Region B (the grey shaded area) represents * when the market price In the following table, indicate which statements are true or false based on the information provided on the previous graph. Statement True False Producer surplus is smaller when the price is $245 than when it is $175. Assuming each student receives a positive surplus, Susan will always receive more producer surplus than Alex. In order for Eileen to earn a producer surplus…
- The two market diagrams below show the market for public and private colleges. Market for Higher Education Private Colleges Sprivate F E IX ¹X O demand will shift to the left. O supply will shift to the left. O demand will shift to the right. O supply will shift to the right. Market for Higher Education Public Colleges b. In the market for private colleges: Enrollment (students per semester) Enrollment (students per semester) How will an increase in state subsidies to public colleges affect the market for public and private colleges? a. In the market for public colleges: O supply will shift to the left. O demand will shift to the right. Spublic ✓ Proy D₁ 5 of 7 HH Noxt A1. The government wishes to encourage students to become more literate in economics and is therefore giving a S10 per unit subsidy to the purchasers of microeconomics textbooks. Given the following demand and supply, what are the economic effects of this subsidy? Illustrate with a diagram. Show work. P= 100 - Qa P= 20 + 3Q. (1) (2) Original Price Original Output New Price Consumer Pays New Output New Price Producer Receives Benefit to consumer Benefit to producer Cost to governmentSaved Help Save&Exit Submit Quantity Supplied Quantity Price Demanded $6 300 $1 10 250 $2 50 180 $3 90 150 $4 120 120 $5 150 90 $6 180 50 Refer to Table 6.1, which gives the daily supply and demand schedules for cups of coffee at a kiosk in a shopping mall. If there is no tax placed on coffee, how many cups of coffee will be bought and sold? Multiple Choice 50 90 Next T47 F 24 of 67 < Prev T0/20/20 o search lp qim
- A/B/C Price $2.00 1.50 1.00 20 27 28 35 aty A $2.00 B $1.50 C $1.00 3 Which price would result in a shortage?pe diagram below shows the market for some agricultural product, X. 6.00 5.00 4.00 3.00 2.00 1.00 300 600 900 1200 1500 1800 Quantity of X (units per week) IGURE 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 producer surplus in this market? $1800 $2700 $1350 $900 $450The United States government subsidizes many so-called green companies. For instance, it has given millions of dollars to solar panel companies. In the market for solar power, illustrate what the government subsidies mean.
- Graph the following data on social and market demand: Im pretty sure I have the graph correct but I am unsure how to find the anwsers to the questions. Price ($) 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 externalityThe 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)The graph shows the market for college education. To encourage the efficient number of students to enroll colleges receive a subsidy. Draw the new supply curve following introduction of the subsidy. Label it. A subsidy is a payment that_ to cover part of the costs of education. O A. students make to the teachers B. the government makes to colleges C. students make to the colleges D. colleges make to students 60- 50- 40- 30- 20- 10- 0- Price and cost (thousands of dollars per student per yea 0 S=MC MSB D=MB 2 10 Quantity (thousands of students per year) >>> Draw only the objects specified in the question. 12