It is claimed that price floors and price ceilings both reduce the actual quantity exchanged in a market. Use a diagram or diagrams to support this conclusion, and explain the common sense behind it.

A small province is planning to levy a hotel room tax of $20 per night on hotel owners to recover some of the costs of government services associated with nonresidents. The average price of a standard hotel room in this province before the implementation of the tax is $150 per night. Market analysts predict that the average price of a hotel room will increase to $155 per night after the tax.   a) Use the supply and demand model to illustrate and explain how the proposed tax on hotel operators will impact the market for hotels. Clearly show in your diagram and explain in words the impact on price and quantity of hotel rooms as well as the revenue raised and any deadweight loss caused by the tax.  b) Discuss how tax incidence is shared between buyers and sellers. What share of this tax is paid for by buyers, and what share is paid for by sellers?  c) What do your findings in part b tell you about the price elasticity of demand for hotel rooms compared to the price elasticity of supply?…

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For theater tickets, the demand curve for students is QS=100−4PQS=100−4P and for the general public is QGP=200−4PQGP=200−4P.  Graph demand for students, the general public, and the market. (Hint: Don’t forget the kink.) What is the equation(s) for market demand?

The table below sets out the demand and supply schedules for grouper fingers. Price Quantity Demanded (Per Week) Quantity Supplied (Per Week) (S per plate) 1,500 1,500 1,400 1,700 8. 1,300 1,800 9. 1,200 1,900 10 1,100 2,000 (а) Construct a graph of this market. Devel (b) Indicate the equilibrium price and quantity on the graph.

Assume Diagram 1 below represents a market for tomatoes. Answer the questions below based on the graph.  What market change does the graph depict?  Suggest two possible reasons for the main change shown in the graph.  How does the change you identified in a) above affect the equilibrium market price?

I need a unique solution within two hours, without copying the answer from websites.

With the theory of demand and supply, carefully explain the impact of an increase in price of steel (iron) on the market equilibrium quantity and price of automobiles in the USA.

Gasoline for cars is produced in a market. There are equations for the Supply and Inverse Demand of car gasoline that model its Supply and Demand graph. These equations are (for supply), P = 20 + Qs, and (for Inverse Demand), P = 80 - Qd. Due to gasoline shortages, some sellers may be able to get access to more gasoline and produce it better than others. As a result, the federal government placed a quantity restriction of 15 units on the sellers.  (Part I) Draw the market equilibrium with the government intervention (Q** and P**) of the quantity restriction. Please label the graph for slopes, the equilibrium point, etc. (Part II) What is the market equilibrium without the intervention of the government? (Part III) The government decided that the previous quantity restriction was not sufficient. So, it increased the restriction from 15 units to 20 units. Consequently, what is the new market equilibrium point with this new intervention? It is not necessary to label this point on the…

The city of Rye has a large number of video arcades. The demand by patrons in thousands per week is Qd=200 - 2P and the supply is Qs= 2P where P is the price in cents charged to play a game. what is the Equilibrium number (quantity) of games played? What is the equilibrium price? draw a diagram showing the equilibrium in the marke