The following are correct descriptions about a Price Ceiling, EXCEPT:   Question 8 options:   Is the regulated price imposed below the market price that would prevail in equilibrium.   A price ceiling will create an excess of supply.   A price ceiling will reduce producer's surplus if the regulated price prevails.   A price ceiling could lead to an increase in producer's surplus, if a black market emerges.

M10

A $1 tax per unit levied on consumers of good is equivalent to   Question 2 options:   A price floor that raises the price by $1 per unit   A price floor ceiling that raises the good's price by $1   All other answers are incorrect   A $1 per unit tax levied on producers of the good

Consider a market where demand and supply satisfy the following equations       Q­D = 12 – 2 P,       QS = 2P. The government is considering a minimum price policy to increase producer surplus. Explain by means of graphs how the introduction of a price floor can increase producer surplus. Find the (optimal) price floor that maximizes producer surplus.

In an attempt to support beef farmers, the Japanese government raised the minimum price for beef in 2008.  If the market equilibrium price was below the government’s minimum price, then the government’s minimum price is an example of a     Binding price floor.     Non-binding price floor.     Binding price ceiling.     Non-binding price ceiling.   Classify the below scenarios as efficient, inefficient, or impossible: The Japanese government sets a minimum price for beef, resulting in a deviation from the market equilibrium.   Canada and Japan specialize in the production of goods according to their comparative advantages and then trade. Canada’s overall production fell in 2020 due to widespread unemployment caused by the pandemic.  ] The price of certain fresh fruits and vegetables in both Canada and Japan rose in March of last year as the pandemic made international trade in fresh fruits and vegetables difficult (assume no price controls).

Economics A competitive market with demandQ = 560 - 5P and supply P = 10 + Q is in equilibrium. If government imposes a price ceiling of 100, what quantity will be traded on the market? 60 70 80 85 100

A shortage results when a   binding price ceiling is imposed on a market.   binding price ceiling is removed from a market.   nonbinding price ceiling is imposed on a market.   nonbinding price ceiling is removed from a market.

Consider a market where demand and supply satisfy the following equations       Q­D = 12 – 2 P,       QS = 2P. The government is considering a minimum price policy to increase producer surplus. Explain by means of graphs how the introduction of a price floor can increase producer surplus; And Find the (optimal) price floor that maximizes producer surplus.

Consider a market where demand and supply satisfy the following equations QD = 12 – 2 P, QS = 2P. a) Find the current equilibrium price and quantity. b) What is the total producer surplus if the market is in equilibrium?   The government is considering a minimum price policy to increase producer surplus. c) Explain by means of graphs how the introduction of a price floor can increase producer surplus. d) Find the (optimal) price floor that maximizes producer surplus. **if possible, please answer my questions in typing as it's hard for me to read works in hand-written, thanks

Market demand is P=125-(3/8)QMarket supply is P=5+(1/8)Q. This time the government imposes a price floor of $45. That is, the price must be either at or above $45.a. Calculate the new equilibrium price and quantity.b. Calculate the new CS (Consumer Surplus) and PS (Producer Surplus). Who gains? Who loses?What is the deadweight loss?