User Account

All Pages

Statements best describes an effect

Assignment Help Microeconomics
Reference no: EM131038699

Suppose that the government set the price of chocolate at $6 per pound. Which of the following statements best describes an effect of this price control? There would be a surplus of 40 pounds of chocolate.

A) There would be a surplus of 40 pounds of chocolate.

B) Less chocolate would be demanded at $4 than at $6.

C) Producers of chocolate would want the price set at $4.

D) There would be a shortage of 20 pounds of chocolate.

Reference no: EM131038699

Questions Cloud

Economic outcome of single-price monopoly : Describe the economic outcome of this single-price monopoly in terms of profit. Who gains and who loses in the long run? How does the Futures Unlimited Corporation make output and price decisions? How do different types of price discrimination affect..
Describe measurable benefits of progressing up cmmi model : Elaborate on three (3) of the obstacles that must be overcome as a business moves up the CMMI model. Suggest key methods for overcoming the obstacles you have identified.
Intercept of ann budget line : A candy bar sells for 50 cents, video games are 25 cents each, the horizontal (candy) intercept of Ann's budget line is 12, and the vertical (video game) intercept of Ann's budget line is 24. If Ann's income increased to $20, the horizontal interc..
Write response about a study of the paly-element in culture : Write a Reading Response about A Study of the Paly-Element in Culture by J. Huizinga and "Play and Games" translated from the french by Meyer Barash.
Statements best describes an effect : Suppose that the government set the price of chocolate at $6 per pound. Which of the following statements best describes an effect of this price control? There would be a surplus of 40 pounds of chocolate.
Identify and discuss the ethical issues in this scenario : Identify and discuss the ethical issues in this scenario and prepare a 1- to 2-page paper discussing whether you agree or don't agree with him. Discuss what you would recommend to management regarding the list.
Describe the need for project control and monitoring : Describe the need for project control and monitoring - Compare project progress to plans and manage work that deviates from project baselines
Why was the racial organization of society contested : how did they shape present societal dynamics (e.g. gender, labor, politics, culture, laws, demographics)? Why was the racial organization of society contested/not contested? Use the text, Davis's Inhuman Bondage
Understanding of the aggregate supply : 1.Based on your understanding of the aggregate supply and aggregate demand model and the IS-LM model.

Reviews

Write a Review

Microeconomics Questions & Answers

  1 consider the public good model of the two flatmates and

1. consider the public good model of the two flatmates and tv with the initial wealths w1 w2 100.a suppose the tv

  In considering materials for a retail package

In considering materials for a retail package (one that will be displayed on the shelf in a retail environment), discuss the advantages and disadvantages of using paper packaging and the advantages and disadvantages of using plastic packaging for thi..

  Pollutants sulfur dioxide and nitrogen dioxide

In the production of energy, burning of coal in power plants produces the pollutants sulfur dioxide and nitrogen dioxide which create smog. According to economics, coal production is an example of A.      Public Good    B.      Negative Externality

  What was the role of keynesian economics

What were the root causes/events that led to the Great Depression - what was the role of Keynesian economics in fighting the depression and was it effective?

  Beer even though most would rather drink beer than tequila

Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 ..

  Diminishing marginal product of labor

Describe the difference between a diminishing marginal product of labor and a negative marginal product of labor. Why would a profit-maximizing firm always choose to operate where the marginal product of labor is decreasing (but not negative)?

  What is the knowledge required to perform your job

What is the nature of your work? Briefly describe the general nature and variety of the tasks, methods, functions, projects, or programs you carry out in your position. What is the knowledge required to perform your job. Knowledge/Skill Set

  Analyze the past current and future cost considerations of

analyze the past current and future cost considerations of the company and on the basis of your costs analysis create a

  Iceberg corporations common stock has a beta of 130 if the

iceberg corporations common stock has a beta of 1.30. if the risk-free rate is 5 percent and the expected return on the

  Law of diminishing marginal product results

Describe how the Law of Diminishing Marginal Product results in u-shaped average cost curves, both Average Total Cost and Average Variable Costs

  Why is this a sensible proxy variable for poverty

The variable lnchprg is the percentage of students eligible for the federally funded school lunch program. Why is this a sensible proxy variable for poverty?

  What is the multiplier

What is the multiplier?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd