Let Q = 140-2p and Qs =-20 + 2p represent the demand and supply equations for rental accommodation,respectively. If a price ceiling of $20 is imposed, then a hidden market may develop. Through this hidden market renterssublet their lease, from law-abiding landlords, to others. What price would these hidden marketers need to sublet theirapartments at to completely eliminate excess demand?OA. $45OB. $40OC. $60O D. $55O E. $50-CPrice ($)70-60-50-40-30-20-10-0+02040 60 80 100QuantitySD120 140Q Consider the figure at the right, which represents the production possibilities boundary for pizzas and guns.The combination(s) of pizzas and guns atO A. points A and C are less efficient than point B.O B.points A and C are just attainable but inefficient.OC.points A and C are unattainable.O D.point B is attainable but inefficient.O E. point B is efficient but unattainableQuantity of PizzaBQuantity of GunsсQ

Let Q = 140-2p and Q = -20+2p represent the demand and supply equations for rental accommodation, respectively. If a price ceiling of $20 is imposed, then a hidden market may develop. Through this hidden market renters sublet their lease, from law-abiding landlords, to others. What price would these hidden marketers need to sublet their apartments at to completely eliminate excess demand? O A. $45 OB. $40 OC. $60 O D. $55 O E. $50 Price ($) 70- 60- 50+ 40- 30- 20- 10+ 0 20 40 60 80 100 120 Quantity S ID 140 Q Q G

Let Q = 140-2p and Q = -20+2p represent the demand and supply equations for rental accommodation, respectively. If a price ceiling of $20 is imposed, then a hidden market may develop. Through this hidden market renters sublet their lease, from law-abiding landlords, to others. What price would these hidden marketers need to sublet their apartments at to completely eliminate excess demand? O A. $45 OB. $40 OC. $60 O D. $55 O E. $50 Price ($) 70- 60- 50+ 40- 30- 20- 10+ 0 20 40 60 80 100 120 Quantity S ID 140 Q Q G

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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